Related Links: Newforma ENR: What’s the biggest problem facing the construction industry and how can we solve it?Ian Howell, (CEO of Newforma Inc.): The construction industry is forecasted to grow to 11% of global GDP: a $12-trillion industry by 2020. McKinsey Global Cities research suggests that by 2050 we will need twice as many buildings as today.But today, project delivery is all too often a broken process. Using conventional project delivery methods you can get pretty disastrous results. BBC Headquarters in London, New York East Side Access and Chicago Millennium park projects are examples that were hundreds of millions of
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.