With another year of the coronavirus pandemic nearing its end, owners have mostly moved past reactionary plans for completing stalled projects and are now actively planning new ones. Looking ahead, how will fundamental changes to market sectors lead owners to potentially reconfigure business models?
An uncertain market outlook is giving many owners a case of “analysis paralysis” when it comes to planning for the future, explains Stephen Mulva, director of the Construction Industry Institute. Reported labor shortages and supply-chain disruptions caused by COVID-19 are still top-of-mind concerns in the decision-making process, he says, including “quality problems” with the raw materials that are actually available.