AM-13-49 Mitigating Risks of Chronic Skilled Construction Labor Shortage facing Major US Capital Projects

Description:

This paper will summarize the latest findings of multiple authorities evidencing the tightening market conditions and market outlook as well as lessons learned from earlier US booms as well as from today’s Western Australia and Alberta Oil Sands regions. The paper will articulate practical approaches for addressing these EPC market developments, including the introduction of early contractor involvement (ECI) and modularization. Both ECI and modularization are proven strategies which, when effectively planned and implemented, minimize risk and maximize the probability of large capital project success while simultaneously mitigating the effects of the predicted labor shortage.