Pandemics and Construction Productivity: Quantifying the Imact on the U.S Economy
A pandemic can have far reaching impacts on the U.S. economy. Companies in once successful industries across the United States have felt the immediate impact of the current pandemic in the most devastating ways.
Early measurements of the impact of this pandemic suggest that construction productivity has been impacted by nearly 20%. A rule of thumb for self-performing contractors is that a 10% impact on productivity results in a 100% impact on profitability. As such, contractors need to consider seriously the impact of this study on their profitability and seek equitable adjustments that adequately compensate them for the impact.
This study is divided into three distinct sections:
- Part I – Pandemic Mitigation Tracking – specifically quantifies hours associated with preventative measures such as training, health screenings, cleaning and disinfecting, job site access and administration instituted to minimize exposure.
- Part II – Productivity Benchmarking – specifically quantifies the reduction in direct work productivity related to social distancing rules, staggered shifts, reduced crew sizes, increased personal protective equipment requirements and related job site regulations.
- Part III – Business and Project Impacts – specifically quantifies ancillary impacts experienced by most
Pandemics and Construction Productivity Report – Initial Findings
COVID-19 has had substantial impacts on many segments of construction and contractors have limited tools to measure the effects this is having on their businesses. This webinar shares the findings of a 5 week intensive ELECTRI research study that shows productivity impacts measuring pre and post pandemic results due to new safety requirements. This webinar also introduces tools to identify and quantify impacts on productivity that will serve as a starting point for negotiations.
Learn more here.
