78 Percent of Civil Contractors Expect Project Backlog to Increase or Remain the Same as Infrastructure Funding Kicks in, New Study by AGC and Procore Finds
26 Settembre 2023 - 5:05PM
Business Wire
Labor Shortages & Productivity Challenges
Threaten to Undermine Success in Building New Infrastructure
Projects, Firms Eager to Embrace Technologies to Help
According to a report released today by Procore Technologies,
Inc. (NYSE: PCOR) and the Associated General Contractors of America
(AGC), 78% of civil and infrastructure construction firms expect
their project backlog to increase or remain the same over the next
year as new federal infrastructure funding ramps up. The report,
Top Civil & Infrastructure Trends: Today's Industry Challenges
and Opportunities, found that many firms are worried that labor
shortages and productivity challenges could undermine their success
with these projects.
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Civil and infrastructure builders report
an average increase of 25% in their backlogs – projects they are
contracted to complete but have not yet started – since the
COVID-19 pandemic. And 78% of firms expect that backlog to grow or
remain level during the next twelve months. (Graphic: Business
Wire)
“With increased backlogs prompted by once-in-a-generation
government investment in the U.S. and Canada, civil and
infrastructure organizations are on the precipice of historic
projects across North America,” said Sandra Benson, vice president
of industry strategy at Procore. “To achieve these massive
undertakings, while also navigating the ongoing labor shortage,
companies will have to find innovative solutions, improve
self-performance, and leverage clean data to build better.”
The new report, which is based on a survey of nearly 500 general
and specialty contractors, explores how civil and infrastructure
organizations in the U.S. and Canada are building today, the
challenges they face, and the opportunities that lie ahead. The
construction association and Procore conducted the survey to
measure the potential impacts of hundreds of billions in new
federal infrastructure investments on the construction
industry.
Civil and infrastructure builders report an average increase of
25% in their backlogs – projects they are contracted to complete
but have not yet started – since the COVID-19 pandemic. And 78% of
firms expect that backlog to grow or remain level during the next
twelve months.
However, roughly one-third of civil and infrastructure projects
fail to meet their specified budget, schedule, and quality goals,
leaving important opportunities for improvement in project
outcomes, according to the survey. The survey pinpointed several
key factors influencing these project outcomes. Notably, 60% of the
most influential success factors identified by civil and
infrastructure builders were linked to workforce considerations.
Material and labor costs (41%), worker skills and training (40%),
and project management (39%) emerged as the top three factors
impacting project success, followed by supply chain management
(38%) and workflow efficiency (35%).
“Civil and infrastructure construction is poised to play a
greater role in the advancement of the U.S. economy than at any
time in the past several decades,” said Stephen E. Sandherr, CEO,
AGC. “This report is essential to understanding the current state
of civil and infrastructure companies, their challenges. and their
potential is essential to making sure the opportunities ahead are
captured to the fullest.”
Many civil construction firms report they are investing in
software and technology to help overcome some of their key
challenges. Fifty-two percent of firms report they are adopting
technology solutions that improve financial visibility and cost
control on projects. Half of firms are utilizing solutions to
better schedule and track labor, equipment and materials on
projects. And half report they are using planning and estimating
software to ensure greater accuracy in their project pricing.
Firms are also changing the way they get involved in projects to
ensure they are successful. Forty-eight percent of firms report
they get involved at the capital design or conceptual planning
phases of projects and two-thirds (66%) are involved in some stage
of the design.
To learn more about how civil and infrastructure organizations
are building today, download the report here. Join our webinar on
November 2, 2023, at 2:00pm EST.
About Procore
Procore Technologies, Inc. (NYSE: PCOR) creates software for
people who build the world. With a focus on providing timely and
accurate data for all, Procore transforms the construction industry
one project at a time - from hospitals and skyscrapers to airports
and stadiums. Beyond its connected, innovative technology, Procore
empowers the industry and its communities through Procore.org. For
more information, visit www.procore.com.
About Associated General Contractors of America
The Associated General Contractors of America is the leading
association for the construction industry. The association
represents more than 27,000 firms, including over 6,500 general
contractors and over 9,000 specialty-contracting firms. Its mission
is to ensure the continued success of the construction
industry.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230926376305/en/
Procore Media Contact Raelle Alfaro press@procore.com
AGC Media Contact Brian Turmail 703-459-0238,
brian.turmail@agc.org
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