An Open Mind Can Give Projects A Progressive Edge 4/3/2006
With over $1 trillion of construction put in place in the U.S. last year and over $4 trillion worldwide, one would think that project delivery techniques would keep pace with technology, education and construction methods. Sadly, that usually is not the case and improper, inadequate or almost nonexistent project delivery methods waste many billions of dollars a year.
Unless something goes radically wrong on a project, the amount of money wasted may never be known. An owner may know when it has the lowest bid, but that is only lowest among firms that choose to participate. Is there another firm out there that would have considered building the project had the delivery method, contractual terms and risk been different? Would costs have been lower?