Kaushik Chakraborty’s Post

Last week, Construction Dive published an article on three infrastructure trends for 2024, featuring interviews with HKA Partners Caryn Fuller and Jennifer Flickinger. The article discusses how the civil sector will encounter a shifting regulatory landscape, burgeoning digitalization, and evolving procurement norms in the new year. Caryn Fuller commented on the rapidly expanding complexity and capacity of the digital platforms being utilized for infrastructure projects, while Jennifer Flickinger discussed the risks associated with new procurement and delivery methods being introduced as new Build America, Buy America Act (BABA) and Buy Clean requirements come into effect. “Some of the challenges that we have are [whether or not we are] actually using these programs properly. It’s [important to make] sure that all people who are using these platforms are properly trained and know what platform they’re using.” Caryn Fuller, Partner “The biggest risk from a supply chain standpoint is truly understanding where products are made. The further you get away from anything that happens in your own company and your own business, the harder it is to make sure that you’re 100% compliant.” Jennifer Flickinger, Partner Read the full article here: https://socsi.in/pab0h

Procore Technologies explore some key findings in civil and infrastructure construction. Within the article, which delves into insights from a survey by Procore, AGC, and Illuminas on civil and infrastructure construction in the U.S. and Canada, you can access and download the Report. On Early Contractor Involvement the report notes "Public and private owners alike have recognized the value of early builder involvement in civil and infrastructure projects. In a setting where unfavorable project outcomes can have significant impact for a broad array of stakeholders, the potential for early builder involvement to help minimize risk on a project is an important opportunity." Read more 🔗https://hubs.ly/Q02dYz6h0 #ConstructionInsights #Infrastructure #growth #collaboration #projectdelivery

“This surge in spending underscores the industry’s recognition of the benefits of #design-#build, particularly the seamless #collaboration between owners, designers, and builders to deliver successful projects.” Check out further insights from Ferguson’s very own David Hill, member of the Design-Build Institute of America (DBIA) National Board of Directors, on the unique #water and #wastewater segment, how #procurement differs, what the #contract should include, executing #designbuild projects, and meeting complex #infrastructure challenges: #TogetherWeBuildBetter #Waterworks https://lnkd.in/eSw9pQh9

As the construction industry nears capacity, it is often not a question of if a project will be delayed, but […] https://lnkd.in/gjnahAum #sustainability #constructiontechnology #constructionindustry #civilengineering #Platformers

Dear All, #Infra Project planning helps identify potential #risks and #issues at an early stage which Helps you communicate your vision and objectives to your team ensure projects are completed on time, within #budget, and to the required standard. Without adequate planning, infrastructure can become outdated or insufficient to meet the needs of growing populations. Planning also ensures that #infrastructure is developed to support social equity, economic growth, and environmental sustainability With #CQRA you can plan the #Collaboratively the #Quality, #Safety and #QS for your project which will help you to improve your #delivery of project with strong commitment #Infrastructure #QualityAudit #CollaborativeQAQC #Outsourcing #QAQC #Road #Bridges #Plant #Civil #Technologyadaption #Valueaddition #CQRA

Explore the factors driving construction growth, which is expected to increase from $291.98 billion in 2023 to $312.87 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. Whether you are a construction industry stakeholder or an investor looking for market insights, this report will help you navigate the ever-changing landscape of the site preparation contractor market. More headlines on this story:

Construction News: The government has published a list of 660 construction projects, many of which may even happen. #constructionnews #construction #businessnews

Twin Challenges for Construction in 2024: Technology and Policy Reform | For Construction Pros https://hubs.li/Q02x3ZbT0

Commercial Construction Spending on the Rise in 2024 U.S. commercial construction spending is set to increase by 5.5% in 2024 as material costs stabilize and contractors slash prices to secure new projects. Key drivers include federal infrastructure funding and growth in data centers and sustainability projects. Learn more about the trends shaping the industry’s rebound. #construction #constructionnews

Hochtief CEO on de-risking projects and plans for new construction university German #infrastructure #construction giant HOCHTIEF didn’t sign any new lump sum contracts in 2023 as it continues to de-risk its #projects. That’s according to Juan Santamaria Cases, CEO of the company, which counts US-based contractors Turner Construction and Flatiron and Australia’s Cimic Group among its subsidiaries. The news came as Hochtief unveiled its financial results for 2023 last week, posting a 10% increase in sales to €27.8 billion for the year and a 27% surge in new orders off the back of high-tech infrastructure projects like #datacentres and #energy transition projects. The company also claimed that 85% of its order book is now made up of “lower-risk” contracts. Asked by Construction Briefing how he defines “lower risk” and how Hochtief has managed to persuade clients to adopt contract models that push less risk onto the contractor, Santamaría said that high risk projects meant any contracts where Hochtief commits to doing the design and build for a lump sum. “In 2023, we haven’t won any such projects. Even if we have incorporated some design and builds into our backlog, we’re not taking an inflation risk that could be beyond our control. There could be some of that type of contract that we’re finishing right now but as we complete them, they will disappear from our backlog,” he said. Hochtief has instead gone after lower-risk models such as alliance-style deals where the contractor works on the design with the client, agrees a target price but shares the risk with the client on over-runs, with a capped exposure to that risk. The company also favours construction management deals, working with the client on the design, agreeing a price for the project, and then moving forward to managing the project for a fee but without taking the risk for the construction itself. Asked by Construction Briefing how Hochtief has succeeded on persuading clients to agree on adopting a different attitude to the risk profile of contracts, Santamaría said that two things have changed in the market: First of all, clients have realised following the 2008 financial crisis that it is not in their best interest to see contractors take too much of the risk burden because if they collapse underneath it, it ultimately means more cost to the client. And secondly, the increasingly complex nature of high-tech infrastructure projects of the type Hochtief is pursuing require a more collaborative approach in any case.