The Russian invasion of Ukraine and economic sanctions imposed by countries around the world in response have disrupted supplies of fuel, steel, and other materials necessary for construction. This has resulted in price...more
The annual inflation rate in the United States rose 7% in 2021, its highest rate since 1982. The construction industry has not been immune from this general trend, with steel prices rising 200% and lumber prices soaring as...more
Earlier this year, the soaring cost of lumber and other construction materials made headlines throughout mainstream media as contractors and owners grappled with the consequences of market volatility. While the construction...more
...Given that the original epicenter of the coronavirus was the important worldwide manufacturing hub of Wuhan, China, the automotive industry was swiftly and seriously impacted in ways that continue one year later. The...more
Steel and other construction material tariffs necessitate careful evaluation and allocation of project cost and schedule risks. For example, when steel costs increased suddenly based solely on presidential executive orders,...more