By Barry B. LePatner
Read Online or Download Broken Buildings, Busted Budgets: How to Fix America's Trillion-Dollar Construction Industry PDF
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Additional info for Broken Buildings, Busted Budgets: How to Fix America's Trillion-Dollar Construction Industry
Fast-track projects seek to compress the overall project OVERBUDGET AND OVERDUE schedule by beginning construction signiﬁcantly before the design is fully complete. Because of the overlap of the design and construction phases, a CM is always retained early in the project. Instead of issuing a single bid package all at once upon completion (or near completion) of the design as in design-bid-build, the CM issues awards to subcontractors and commences construction on multiple bid packages over several months.
The Journal portrayed the recent price increases as the effects of increased demand. Demand may be high, for sure, but the root cause of such double-digit increases runs much deeper and cannot be ascribed to the neat workings of supply and demand. 1 The subject is of global importance in every sense. In this chapter we will detail the construction industry’s contribution to the economies of the United States and the rest of the world, and survey the strengths and weaknesses of the construction industries of other countries, some poor and some rich.
Further gains could be made by increasing supervision of workers, paying them by the task rather than hourly, and by increasing labor specialization. Today, it is not uncommon for the same Indian worker to both plaster and lay brick in the same room, on the same day. Adam Smith would weep, then point to the small “extent of the market” as the main culprit. 29 The market also remains small because India’s lack of a relatively cheap, transparent legal system impedes competition. The scarcity of competition, in turn, keeps costs high.