Project disruptions,including delays,cancellations and funding challenges,are having a significant impact on construction business owners,according to a new survey from FMI,a provider of management consulting,investment banking and research for the engineering and construction industry.
The group recently conducted its Construction Users Roundtable(CURT),and found that 83 percent of those surveyed report project delays,41 percent are seeing project cancellations and 93 percent report the need to use self-funding for projects.
The survey aimed to identifying future issues that may impact capital programs and the degree of preparedness to address those issues;the level of staffing changes during the past four years and anticipated staffing trends going forward;the degree of project disruptions affecting capital programs;and the continued evolution of project delivery systems and procurement methods.
According to the survey,traditional design/bid/build remains the most common method in use.However,among larger-sized products,the use of other project processes often increases,according to the survey.
