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Three Critical Steps to Reviving Stalled Projects Innumerable real estate projects become “distressed” or “suspended” for a multitude of reasons. A “distressed” situation can be defined as a construction project that has exceeded (or is projected to exceed) its project budget and\or its project schedule by more than 25 percent. A “suspended” project is one …
The construction industry notoriously lags in productivity improvements and technology adoption. Its sluggish pace results in trillions of dollars in lost value – approximately $1.6 trillion a year. One underlying cause of this lagging performance is the way the industry develops complex physical assets, a process that has essentially remained unchanged in the face …
The construction industry is grappling with issues pertaining to productivity and meeting project deadlines that have magnified since the 2008-2009 economic recession. Between 2007 and 2011, around two million construction workers were let go in the United States alone and the industry has not been able to fill this vacuum during the boom period …