The National Construction Contracts and Law Survey 2018 is a comprehensive survey that provides valuable insights into the construction industry in the United States. The survey is conducted annually by the American Bar Association Forum on Construction Law and reflects the opinions and experiences of construction law practitioners, owners, contractors, and other industry professionals.
The survey covers a broad range of topics related to construction contracts and law including contract types, risk allocation, dispute resolution, project delivery methods, and emerging trends. The results of the 2018 survey highlight some interesting trends and changes in the industry.
One of the most significant findings of the survey is the increasing use of alternative project delivery methods. According to the survey, many owners are now using design-build and integrated project delivery methods as they seek to streamline the construction process and reduce costs. This trend is likely to continue in the coming years as owners look for new and innovative ways to manage their construction projects.
The survey also found that traditional contract types such as fixed-price contracts and time and materials contracts remain the most popular. However, there is a growing interest in alternative contract types such as incentivized contracts and shared savings contracts. These types of contracts allow owners and contractors to share risks and rewards and can be an effective way to incentivize high-quality work and project success.
Another interesting finding of the survey is the increasing use of technology in the construction industry. Many contractors are now using Building Information Modeling (BIM) and other digital tools to improve project planning, reduce errors, and enhance collaboration. These technologies are helping to make the construction process more efficient and cost-effective.
The survey also highlights the importance of effective risk management in construction contracts. According to the survey, many owners are increasingly focused on risk allocation and are seeking to minimize their exposure to risk. This is leading to a growing use of contractual provisions such as indemnification and limitation of liability clauses.
In conclusion, the National Construction Contracts and Law Survey 2018 provides valuable insights into the construction industry in the United States. The survey highlights important trends and changes in the industry, such as the increasing use of alternative project delivery methods, the growing importance of technology, and the focus on effective risk management. As the industry continues to evolve, it will be important for construction law practitioners, owners, and contractors to stay up-to-date with these trends and adapt their practices accordingly.
