Through the 2012 Owner Study, consultant FMI and the Construction Users Roundtable set out to understand how large capital program owners are coping with the current environment, as well as what challenges they believe the future environment holds and how prepared they feel to face these challenges. In general, survey and interview questions fell into these broad areas:
-
Identification of future issues impacting capital programs and the degree of preparedness toward addressing those issues.?
-
Level of staffing changes during the past four years and anticipated staffing trends going forward.
- Degree of project disruptions affecting capital programs resulting from delays, cancellations and funding challenges.
- Continued evolution of project delivery systems and procurement methods.
Based on survey responses, it is clear that many capital program owners have already begun the process of identifying future challenges and mitigating the impact of those issues on their capital programs. Other owners, however, anticipate many of these challenges to have a significant effect on their capital programs and are not confident in their responses to date. The ability of these owners to maintain the objectives of their capital programs in the face of these challenges will depend on the actions they take to identify and address these issues. How capital program owners respond to both the current and future environment will significantly influence their ability to plan, design, procure and manage capital projects effectively. As their ability to engage in these activities changes, so too will the expectations of owners for their planning, design and construction partners.
Survey responses reflect the fact that economic recovery has yet to begin for many, especially in the engineering and construction industry. At its peak in 2006, the construction industry represented more than $1 trillion of economic activity, roughly 9% of nominal GDP. The industry has contracted every year since then. The burst of the housing bubble, the credit crisis and the ensuing recession reduced the industry to roughly 70% of its 2006 size in 2012, and to only 5% of nominal GDP. The dark cloud, however, is clearing. according to FMI forecasts, construction put-in-place voluimes in 2012 are expected to end the year 5% higher than in 2011.
For a free download: http://www.fminet.com/fmi-curt-survey-of-owners-2012.html
Related Stories
| Sep 11, 2013
Inaugural BUILDINGChicago/Greening the Heartland Expo & Conference draws attendees from 27 states
More than 500 attendees from 27 states attended the inaugural BUILDINGChicago/Greening the Heartland Conference, held September 9-11, at the Holiday Inn Chicago Mart Plaza.
| Sep 10, 2013
The new medical office building: 7 things to know about today’s outpatient clinic
Regulatory pressures, economic constraints, and emerging technologies are transforming healthcare. Learn how Building Teams are responding with efficient, appealing, boundary-blurring outpatient buildings.
| Sep 10, 2013
BUILDINGChicago eShow Daily – Day 2 coverage
The BD+C editorial team brings you this real-time coverage of day 2 of the BUILDINGChicago/Greening the Heartland conference and expo taking place this week at the Holiday Inn Chicago Mart Plaza.
| Sep 10, 2013
Melbourne, Australia’s ambitious retrofit program earns climate leadership award
The 1200 Buildings program in Melbourne, Australia was designed to encourage the retrofitting of 1,200 commercial buildings, or about 70% of the city’s commercial buildings stock.
| Sep 9, 2013
Top 25 continuing education courses on BDCuniversity
An overview of the 25 most popular continuing education courses on BDCuniversity.com.
| Sep 6, 2013
Public Architecture's Day Labor Station: Just the type of 'great idea' we're looking for in the $5,000 Vision U40 competition
Thinking about competing in BD+C's Vision U40 program at next month's U40 Leadership Summit? Here's a good example of the kind of "great idea" we're looking for.
| Sep 6, 2013
U40 Summit featured speaker: Arthur Gensler on how to build a world-class AEC practice
Gensler, founder of the world’s largest architecture firm, will talk about the role of the architect in society, the impact of great design, and the practicalities of starting and running a practice, and will offer advice for today’s young design and construction professionals.
| Sep 6, 2013
Nonresidential Construction Index holds steady in Q3
FMI's 2013 Third Quarter Nonresidential Construction Index report shows a NRCI score of 60.3, a .2-point improvement over Q2.
| Sep 5, 2013
Do you have the next big breakthrough for the AEC industry?
Next month's Under 40 Leadership Summit in San Francisco is your place to shine. Our third annual networking and leadership event for young AEC professionals will feature an XPrize-type competition, called Vision U40, that will reward attendees who develop the most innovative solutions to today's pressing issues.
| Sep 4, 2013
Identifying your leadership gaps
U.S. businesses spend more than $170 billion annually on leadership-based curriculum, according to the American Society of Training and Development. Is all that training producing better leaders or just more people who hold positions of leadership?
