Our long history and experience is that, in general, the failure rate for construction projects has remained high. Why haven't advances in project-management science, computer technology and communications been more effectively brought to bear in our business? What about the advertised beneficial impacts of 3D computer-aideddesign, computerized critical-path method schedules and building information modeling? Are today's engineers not as good as those who built yesterday's megaprojects—the Panama Canal, the Empire State Building or the Hoover Dam?Owners, architects, engineers and contractors have been challenged to deliver capital projects on time and on budget because of their complexity and because of the
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.