Trends & analysis: Project delays, cancellations remain high
Project delays and cancellations continue to be much higher than normal, according to FMI Corp.’s Nonresidential Construction Index (NRCI) Report, Second Quarter 2010. Participants in the Raleigh, N.C., management consulting firm’s NRCI study reported a “normal” rate of project delays to be 5 percent of annual projects. For the second quarter of 2010, those same construction industry executives reported project delay rates of 18 percent. The good news: The second quarter marked the first time panelists indicated a drop in project delays since third quarter 2008. Download a PDF of the entire article, below.