July 24th, 2012 |
A wise man said: “If you cannot measure it, you cannot improve it.” He also said: “When you are face to face with a difficulty, you are up against a discovery.”
So let’s take a peek at the measurements recently reported by FMI and discover what can be done when facing the challenges ahead of us in the coming months.
FMI released the second quarter 2012 Construction Outlook Report (details here). “FMI’s forecast calls for 3 percent growth for construction put in place (CPIP) by the end of 2012, and another 7 percent in 2013, for a total of $882.4 billion. This is $92.6 billion more than the lows of 2011.”
However, FMI acknowledges that slow growth may yet be challenging because it requires improved management.
So with growth on the horizon, what are you doing to improve your construction management methods? Do you have the right tools to use and understand your data? Can you bid quickly and with precision? Do you know your true project costs? Are the answers you need at your fingertips anytime?
Download this free eBook to understand the role that construction software plays in helping you overcome obstacles to profitability.
June 20th, 2011 |
According to AGC (The Associated General Contractors of America), “Emerging changes in construction activity indicate 2011 may be the year of the specialty contractor more than the general. While overall construction spending remains flat, several niches look promising.”
The article by AGC Chief Economist Ken Simonson goes on to explain:
- The revival of manufacturing employment, shipments, orders and inventories should encourage more contractors to develop specializations to serve manufacturing.
- The tapping of huge natural gas reserves is good news for specialty contractors that can build, expand and overhaul petrochemical plants.
- Companies with expertise in building and equipping data centers are in growing demand, as more firms turn to “cloud” computing.
- Alternative energy and power markets will continue to offer opportunities and there should also be continuing demand for energy conservation retrofits to existing residential and nonresidential buildings.
To read the article in full, please visit http://news.agc.org/2011/06/15/which-niches-will-offer-riches-in-2011-and-beyond/
Are you tapping into new markets and services to ride the economy wave? How have emerging changes impacted the type of work you do? Look to Maxwell Systems for quality construction software systems.
March 21st, 2011 |
The Associated General Contractors of America (AGC) released a plan recently detailing measures to stimulate demand for construction in the private and public sectors. AGC explains the plan is necessary to reverse construction employment declines that have taken place in 317 out of 337 metro areas since January 2007, according to new data.
In a press release issued by AGC, Stephen E. Sandherr, the association’s chief executive officer, states: “Our goal is to rebuild a devastated construction market that has left millions jobless, littered cities with incomplete projects and sapped much needed revenue, commerce and customers out of our economy. Considering the scope and impact of construction job losses, the last thing any of us can afford is a repeat of the past four years.”
The plan, called “Building a Stronger Future, A New Blueprint for Economic Growth,” outlines measures to help boost private sector demand for construction, help tackle a growing infrastructure maintenance backlog and reduce needless red tape and regulations.
For additional information or to download the plan, visit http://news.agc.org/2011/03/15/agc-releases-plan-to-revive-construction-industry/.
What do you think it will take to revive the construction industry and rebound employment? Look to Maxwell Systems for quality construction software systems.
January 19th, 2011 |
Construction Business Owner magazine recently reported that “2011 presents a glimmer of hope as construction activity will most likely begin a gradual climb … contractors willing to read and research to stay ahead of the curve will have the advantage.”
The article, available here, about the State of the Construction Industry 2011 also shares opinions of industry experts, including George Hedley, business coach and founder of Hard Hat Presentations, who points out that contractors have grown their businesses by adding ongoing service and maintenance work to their offerings. “Contractors who are unwilling to enter these difficult service and value-added arenas will continue to scramble finding private work that is profitable,” he says.
On the subject of how to survive and prosper in the year ahead of us, it seems experts agree that contractors will either adapt or be left behind. Adapting could include reaching into new geographies or niches – but, as the article advises, being successful will demand construction businesses formulate a strategic plan and understand how to execute it.
What are your expectations for 2011? Are you investing in ways to capitalize on opportunities as they return? What are you researching to stay informed? Have you expanded your service offerings?