Related Links: Up Front: Industry Buzz August 2013 Lack of timely project decision-making can amount to big costs later, says Robert Prieto, senior vice president of Fluor Corp., in a new analysis for PM World Journal. While project delays and the resulting cost impacts are generally linked to changed scope, rework or productivity loss, "the cost of a lack of timely decision-making is seldom reflected in project governance processes," says Prieto.He says that for a contractor, delays are even more "deleterious" when they are of longer duration and at a later stage in the project. "A $4-billion project, not uncommon in
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.