No one could have predicted the speed and reach of COVID-19 in the last few months, or the overall impact to the construction industry. There have been drastic changes in operations and implementation along with disruptions to the industry’s supply chain. Safety on the job site has become more important than ever, especially as contractors focus on preventing the spread of COVID-19.

Financial standing plays a major role in construction projects, and coming out of COVID-19 will be no different. Because of the pandemic’s far-reaching impact, there may be unforeseen delays in project funding due to the dip in Q1 market conditions and Q2 earnings reports. In North Texas, for example, more than $2 billion in bond referendums were pushed from May 2020 to November 2020, and potentially even further. The biggest uncertainty is that the pandemic’s true depth is not understood, but the construction industry is made up of committed and hardworking thought leaders who will push through and work together to resolve these challenges.

Reprinted courtesy of Corbett Nichter, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.