Nerves of Steel Needed as Firms Face Volatile Prices, Broken Contracts and Price-Gouging

Businessman with hands over face

Inflation and supply-chain issues create numerous conflicts and complications.

December 6, 2021
Richard Korman, Jonathan Barnes, & Greg Aragon - Engineering News-Record

When Elmhurst Group, a Pittsburgh-area developer, started collecting bids for a new mixed-use building last November, the price of the steel frame, roof and cladding panels for the $14-million project came in $382,000 higher than expected—a big enough disappointment to give Elmhurst pause. Overall material costs for the project were running more than $650,000 above what was originally calculated.

Reprinted courtesy of Richard Korman, Engineering News-Record, Jonathan Barnes, Engineering News-Record and Greg Aragon, Engineering News-Record

Mr. Korman may be contacted at kormanr@enr.com

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