In this inflationary environment, being in denial will not prevent us from losing money. Only planning for runaway cost inflation and reevaluating contract terms will help prevent losses in 2022.
The cause of the most recent inflatins spike are more complex than any in the past; wise construction professionals should factor considerable cist inflation into their bids for 2022 and 2023
Avoid taking on “expensive” jobs that will eventually look “cheap” on your company financials, byt considering size and duration when selecting projects for 2022 and beyond.
In this post-pandemic construction market, still plagued by persistent labor shortages, rampant inflation, and supply chain interruptions, the mid-sized or smaller contractor needs to design a 2022 business strategy that focuses on profits rather than sales.