This week’s Construction Financial Manager Review (CFM Review) features a selection of interesting articles from across the industry this week. Our goal is to make it easy for all construction financial professionals to stay informed about what matters to them, while having a little fun at the same time.
Enjoy your weekend!
Key articles from across the web on a variety of construction industry topics
There’s No Place Like Home
Report Finds 17 Deaths and Labor Abuses at Russia’s World Cup Stadiums via The New York Times
Historically, working in the construction industry has been one of the most dangerous ways to make a living. The industry got together to improve that however, and worker deaths are down from about 38 per day in the 1970s to 13 per day in 2015. Worker injuries are down significantly as well. Unfortunately, this improvement in safety has not yet reached Russian construction workers, because there have been quite a few deaths during the construction of World Cup stadiums, which are being frantically built as the country prepares to host the huge international sporting event in 2018.
Extra Reading: zlien CEO Scott Wolfe wonders why the construction industry can’t collaborate to fix payments the same way the industry collaborated to improve safety on jobsites, in an article he wrote for CFMA.org.
New Business Idea: Uber, But For Finding Roommates
US Needs 4.6 Million New Apartment Units by 2030 via ConstructionDive
Despite the fact that, “rent growth is slowing across some of the country’s hottest markets,” due to an oversupply of luxurious apartments with high-end rents, the country is still projected to need more than four and a half million new apartments – or 325,000 units, annually – to keep pace with demand. Affordable units are especially needed.
Colorado? More Like CONDO-rado!
CO Court Ruling on Defects Case Could Help Jump-Start Condo Construction via ConstructionDive
Condos once made up 20% of the Denver residential construction market. Thanks to restrictive construction defects provisions enacted by the state over the past decade or so, condo construction has been “all but halted,” falling to just 2%-3% of the residential total. Wow. This developer-friendly ruling by the Colorado Supreme Court might be just the thing the industry needs to jump-start condo construction in Colorful Colorado once again.
Payment, Credit, and Lien Rights
More construction industry content, but more about specific issues around payment, credit, and lien law updates
Things Not to Do in Construction Law
Ten Things Not to Do When Facing a Claim via Construction Executive Risk Management
zlien was born out of the world of construction law. Our CEO Scott Wolfe, Jr., and CLO (Chief Legal Officer) Nate Budde are both lawyers as well as prolific writers on the subjects of construction payments, credit, and lien rights management. This CE Risk Management article is a quick read with some common-sensical, yet still important advice about things that you should probably not do if you’re sued.
Prevailing Wage Prevails (For Now)
Trump’s Infrastructure Package to Include Wage Protections via thehill.com
Still too early to tell if the ambitious infrastructure plans put forth by the Trump administration will be able to bring home the bacon, but as things stand now, the wage requirements mandated by the Davis-Bacon Act have been included.
zlien is a technology company after all!
News and other tidbits about the fast-growing construction technology space
The Construction Industry’s Best Podcast
The CONTECH TRIO Podcast via JBKnowledge
Consisting of Rob McKinney, James Benham (the “JB” of JBKnowledge), and Josh Bone, the CONTECH TRIO has a 72 episode strong podcast where they share decades of construction technology experience, research, and innovation. zlien gives the podcast an enthusiastic two thumbs up rating – you should check it out!
What’s Faster, Leaner, and Big All Over?
Leverage Valuable Data to Build Better, Faster via Construction Executive Tech Trends
Contrary to what you may have heard, “Big Data” isn’t just a data set from Texas. This article in CE Tech Trends discusses the intersection of big data and the construction industry.
Here’s how we define big data at zlien:
Extremely large data sets, generated at a high velocity simultaneously across multiple platforms, containing both structured and unstructured information, that may be analyzed through advanced computer processing to reveal patterns, trends, and other insights to enable enhanced decision making and business optimization.