Raleigh, North Carolina (Sept. 12, 2019)—FMI Corporation, a provider of consulting and investment banking services to the Built Environment, has announced the release of its latest report, “Megaprojects: Changing the Conversation.” In this article, FMI presents their latest market forecast on megaprojects, shares insights from industry leaders on five key ingredients that drive successful megaprojects, and offers questions and recommendations around how to change the name of the game. The research for the report was conducted in collaboration with the Construction Industry Round Table.
Sabine Hoover, FMI’s content director and author of the article, stated, “Our initial research confirms that a small group of engineering and construction (E&C) players and owners are deploying a fresh approach to collaboration and teamwork on these large projects, taking on a “one-unit” mindset—unified by a shared sense of purpose and a fair business model—rather than working as separate entities against each other. While this seems simple to do, it’s surprisingly difficult to get right.”
Key highlights of the report include:
- Between 2013 and 2018, the annual value of United States megaproject starts increased from 3% to approximately 33% of all U.S. construction project starts.
- At least 320 megaprojects have been awarded in the U.S. since 2012—an investment valued at over $700 billion.
- Over 670 megaprojects are being planned, representing a future investment opportunity likely to reach $2 trillion.
- Over the next decade, annual construction put in place (CPiP) on megaprojects in the U.S. will increase nearly 600%—from about $50 billion to just over $350 billion.
To access the report, please visit fminet.com/reports/megaprojects-changing-the-conversation.