Material Price Escalation: What This Means to Owners
In the wake of the COVID-19 pandemic, the cost of construction labor and material prices have been soaring at record-breaking levels. Construction markets remain competitive as contractors struggle to overcome the challenges of the current market conditions and owners attempt to deal with the added risks from the economic threats. This session will provide an overview of the current market trends, changes to expect in project delivery and contracting methods, and how owners can be prepared to proactively address these issues head-on. After attending this presentation, attendees should be able to: (1) Identify current trends in the industry concerning construction starts, sector performance, labor availability, and supply chain impacts; (2) recognize today’s current market conditions and how they may impact your project; and (3) evaluate the industry’s response and identify measures you can take to be prepared to proactively address current conditions.
Speakers: Brian Goodreau & Greg Holness