Each Monday, we'll let you know what's coming in the week ahead, including important residential and commercial report releases, as well as our feature articles.
"The Dotted Line" contract series: Project closeout — Aug. 9
In January, we launched our year-long series, "The Dotted Line," exploring facets of construction contracts each month. From guaranteed maximum price, to design-build, to lump sum, we've looked into the intricacies of each type of agreement.
On Tuesday, Aug. 9, the next installment in our series will examine the project closeout process. Collecting final lien waivers from subcontractors and suppliers, resolving any outstanding change orders and keeping the punch list from growing into an unmanageable nightmare are just a few of the challenges that construction managers must overcome before being able to close the books on a project. However, with a little preplanning, the loose ends don't have to keep managers from navigating the process efficiently.
Cybersecurity in construction feature article — Aug. 11
The construction industry — notoriously late to the game whe it comes to changing and adopting new innovations — is finally opening up to new technologies, and that means it's made itself vulnerable to the same computer- and internet-related security concerns that other companies have faced for years.
In our feature article on Thursday, Aug. 11, we'll talk with cybersecurity experts about how construction companies can protect their connected systems, people and equipment from infiltration, costly damage and theft.
Construction material price report — Aug. 12
The monthly Producer Price Index report from the Bureau of Labor Statistics will be released on Friday, Aug. 12. That afternoon, the Associated Builders and Contractors will offer their take on the data, and we'll cover both reports in a combined story.
Last month, the BLS reported June construction material prices rose 1.1% between May and June but were still 2.5% below the June 2015 level. June marked the fourth consecutive month of increases in construction industry inputs in the Producer Price Index.
ABC Chief Economist Anirban Basu said that rising overall commodity prices have resulted in higher construction material costs, which in turn "translates into smaller profit margins" for construction companies. Will material prices continue their upward trajectory this month?
