AGC Partners with Industry Stakeholders on Managing Uncertainty and Expectations Report

For contractors, the challenges that emerge due to the uncertainty and imperfection inherent in a complex construction project become evident during the construction phase. More than any other stakeholder, contractors need to be able to effectively manage uncertainty. The “Managing Uncertainty and Expectations in Building Design and Construction SmartMarket Report” was produced by McGraw Hill Construction in partnership with the AIA Large Firm Roundtable; additional partners include the Associated General Contractors of America, the American Institute of Architects, Autodesk, the Design-Build Institute of America, Graphisoft, and the Lean Construction Institute. The research on managing project uncertainty and expectations reveals that contractors, owners and architects all recognize that complex construction projects involve uncertainty. It explores the root causes of the uncertainty faced by contractors, the use of contingencies by owners to address unforeseen issues and strategies for all players to mitigate risk. The study encompasses input from nearly 3,000 U.S. owners, architects and contractors, as well as commentary from an advisory panel of seven leading owners representing different building types. To download the full report, click here.