The results of Grassi’s 2022 Construction and A&E Industry Survey are in, revealing the latest trends shaping the conditions and outlooks of general contractors (GCs), subcontractors and architecture and engineering (A&E) firms as they forge ahead through ongoing economic and pandemic challenges.
Download your complimentary copy of our authoritative benchmarking report and register for our next live video session for a full analysis of the survey findings by Grassi’s Construction and A&E advisors. We’ll help you measure your company’s progress, understand the greatest risks facing the industry today, and learn how your peers are adopting technology and other operational enhancements to drive growth and innovative change.
Highlights of the survey findings include:
- Overall, respondents expect revenues to increase this year. A&E firms were the most optimistic (66%), followed by GCs (61%) and subcontractors (50%).
- 90% of GCs are embracing technology and innovation to improve efficiency, compared to 61% of subcontractors and 75% of A&E firms.
- While revenue/profitability was cited as the most important KPI for the vast majority of respondents, GCs review profitability forecasts far more frequently than subcontractors and A&E firms.
- Nearly half of all respondents (49%) lack confidence that their internal controls are sufficient to prevent fraud in remote environments.
- In assessing risks, financial and supply chain risks are obviously top-of-mind, but A&E firms are also concerned about labor shortages (42%).
The survey also uncovered the most common strategies that GCs, subcontractors and A&E firms are embracing to address supply chain issues, labor challenges, digital threats and more.
Download your copy of the survey report today. Contact Carl Oliveri, Construction Practice Leader, or Robert Brewer, Architecture & Engineering Practice Leader, to learn more about applying these results to your business plans.