On average, federal construction projects cost about 20% more than the private sector. And half of all federal projects exceed their estimated costs and schedules. Of the 125,000+ buildings owned or leased by the government, many are over 60 years old and more than 45,000 are underutilized, costing the government $1.5 billion in maintenance each year. Despite massive financial investments, the U.S. ranks only 13th in infrastructure quality when compared to other countries. But smart planning, sustainable construction, and proactive maintenance strategies can resolve these issues.
Join us for a conversation exploring how to curb federal construction costs. During this event, you will learn:
- What factors drive the high costs of public sector construction, and where funding shortfalls and appropriation bottlenecks usually occur
- How strategies such as single-bid contracts can accelerate funding for new construction and critical repairs
- How agencies can accurately calculate cost estimates and avoid budget overruns
- Why digitizing property management systems can speed the identification of — and response to — maintenance issues
- Why a long-term perspective on infrastructure life cycles can be more cost-effective than a short-term fix