FMI often hears stories about innovations and positive disruptions occurring in and around the engineering and construction industry. These new ideas are often associated with project-related processes, systems or technologies. And while some ideas and technologies stick, many others seem to fail.
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Even the most promising construction projects can get quickly sidelined by a few missteps, a couple of bad decisions, inadequate budgeting or any other number of challenges. In Part 2, we will assess how each stakeholder influences or triggers some of these causal factors and provide recommendations on how to avoid these items on future projects.
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Even the most promising design and construction projects can get quickly sidelined by a few missteps, a couple of bad decisions, misaligned expectations between the parties or any other number of challenges. In this three-part series, we’ll explore some of the key issues that contractors, architects/engineers and owners encounter on their projects and describe common causes of these problems.
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This year FMI started what we hope becomes an annual survey of large E&C firms to assess their appetite for acquisitions in the next year. Based on our survey, it appears that in addition to the number of sellers looking to transition ownership, many large firms view acquisitions as a key component to their current growth strategy.
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Almost every component of the NRCI Index moved in a positive direction in the first quarter. This result for the beginning of 2017 is welcome, as many have been expecting a slower economy. Slow growth or not, panelists indicate that finding enough talented people to do the work and somehow improving productivity are among their chief concerns this year.
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The construction industry is back on track since the Great Recession, and total construction employment has rebounded to almost 6.7 million workers (still a far cry from its peak of 8 million workers in 2006). “Construction spending in November 2016 hit a 10-year high, with one-month and year-over-year increases in all major segments,” says Ken Simonson, chief economist at Associated General […]
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FMI executives share their perspectives on how 2016 shaped up for the engineering and construction (E&C) industry and give valuable insights into what’s ahead for 2017. The report includes FMI's sector outlooks and advice for how to focus on creating sustainable growth strategies.
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In today’s economic climate, finding and retaining employees is becoming increasingly challenging for U.S. engineering and construction (E&C) firms. Continued demand has strained the labor pool, particularly for specialized jobs. As a result, companies have sought innovative and unique approaches to hiring and retaining top talent. Naturally, employee compensation has become a key focus area.
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The construction industry has bounced back from the Great Recession and is currently one of the best-performing sectors within the U.S. economy. Though contractors have strong backlogs and plenty of work, many are still struggling to find qualified workers.
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In this article, we provide insight into customer loyalty in the construction industry and outline three successful strategies for turning passively satisfied clients into long-term fans and promoters. Findings are based on decade-long research involving more than 5,000 industry stakeholders.
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