Professional services firms in the construction industry were once thought of as entities hired by owners to keep an eye on contractors during the construction process. However, as construction has become more complex, funding sources have become more elusive and project delivery has become more diverse, owners now are relying on professional services firms to provide a much wider array of services.
The market for professional services remains strong, as can be seen in the results of the ENR Top 100 Construction Management-for-Fee and Program Management Firms list. While revenue for the CM-PM group overall was down 5.4%, to $22.14 billion in 2017, from $23.41 billion in 2016, domestic revenue from CM-PM work rose a healthy 6.7%, to $17.74 billion. However, CM-PM revenue from projects and programs abroad fell sharply by 35.1%, to $4.40 billion in 2017.