One of the most common mistakes made by Owners is failing to provide a budget for the design team to achieve. Too often we find that an Owner has provided the designers a concept or idea of what the project is to achieve, seeking some...
In March, the US Government announced their intention to level new tariffs on steel and aluminum imports. Tariffs on steel were to be 25% and aluminum was to be 10%. The United States Department of Commerce indicates that the U.S. is the world’s largest importer...
Over the last 10 years, we have found the track record of Alan Beaulieu, a national economist with the Institute for Trend Research (ITR) to be incredibly accurate (94.7%). For 25 years, he has provided insight to thousands of business owners and executives. His January...
The Ongoing Concern for Skilled Laborers in the Construction Industry is Getting Worse During the last seven years, the construction market has demonstrated healthy and steady growth. The recent natural disasters across the United States, Mexico and the Caribbean can only continue to impact the ever increasing gap...
A Property Improvement Plan or “PIP,” not to be confused with Gladys Knight & the Pips, is a detailed list of property improvements required at specific times in the hotel property life-cycle. The purpose of a PIP is to maintain brand standards and keep the hotel appearance...
The Federal Government inflation information clearly does not match current Construction industry pricing where everything is rising. Engineering News Record reported that the year over year growth in prices is 3.4% - significantly higher than the Federal Government inflation rate of 1% (the government continually...
Over the last 40 years, I have found construction cycles to be fairly consistent and a good method for forecasting the construction business trends. Coupled with leading indicators, they often will provide a clear vision of the future before it arrives. Prices Rising Recent increases in material...
The stock market’s wild ride has provided many to pause and consider what the future will hold. In the past, the stock market has been a “leading indicator” for development and construction. This indicator has often confirmed or predicted the economic trend six (6) months...
Leading indicators provide insight to future economic events; Three events occurred during July 2015 that offer insight to the future economic challenges we face. The impact is not immediate; however, these events will affect the US construction market in the next two years. The first indicator is that...
Owners, Developers, Contractors, and Designers are all experiencing the current economic expansion. With project volume up, most parties are enjoying a profitable 2014; however, now is often when management makes the critical mistake that has a long term effect on the company. The key pitfalls...
