Adjust to new realities, give employees a cause to fight for and focus on opportunities: Executives of three design and construction firms offered those strategies as ways for the industry to cope with the current financial crisis. The executives joined other leaders from industry, government and Wall Street at an ENR/McGraw-Hill Construction conference in New York City last month to analyze economic developments and optimize solutions. Ira Levy, president of AECOM’s DMJM Harris unit in New York City, acknowledged that his firm’s revenue will shrink, but he said profitability could still survive. He noted, “A better question to ask is,
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.