As the California High Speed Rail Authority gains a new chief operating officer, a May report released by the state auditor warns of potential delays in the authority’s planned $45-billion project due to inadequate planning, oversight and contract management. The report warns that the authority hasn’t identified enough non-state matching funds, which are required to access the $9.9 billion OK’d in the voter-approved 2008 California bond that launched the project. The project has received $2.25 billion from the American Recovery and Reinvestment Act. Construction plans call for 2.5 times more state and federal funding to be spent by 2013 than
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.