The year 2023 brought many surprises, some drama and uncertainty. It also brought us 282 project applications for the ABC National Excellence in Construction® Awards.
As we move into 2024, what might we learn from the applicants to last year’s EIC Awards? ABC recently compiled our first Project Performance Report capturing key insights from these industry-leading projects, all of which were completed safely, efficiently and effectively, and met their clients’ expectations.
Here are some headlines from the report:
Our 2023 EIC applicant projects represented $11.4 billion in work performed in 18 different market segments, including, infrastructure, manufacturing, office, religious and industrial, and more than 31 million work hours and 15,500 full-time equivalents.
The projects achieved a collective Total Recordable Incident Rate of 0.86.
93% of general-contractor contracts are distributed between lump sum, construction manager and design-build. Specialty contracts are 74% lump sum.
77% of all contracts are procured with some qualification-based selection in addition to price.
Solely negotiated and value-based procurement methods led to a reduction in planned construction durations vs. actual durations by an average of 3%.
Preconstruction services were used across all product market segments and on 73% to 88% of all projects depending on the market segment.
A diverse suite of construction technologies was used across projects, regardless of size or budget.
ABC members love to compete, create value and deploy innovative construction methods as they build the best projects in America with the best talent in the construction industry. At ABC Convention in March, we will present the 2024 ABC National Excellence in Construction® Awards and will capture more insights for another performance report. I’m sure they’ll be just as impressive—maybe even more so—than last year’s.
