Growing labor shortages are pushing real estate owners managing construction projects over budget
New research from IDC and commissioned by Procore shows that 75% of owners in the US and Canada are over planned budgets on projects, and 77% were late. On average, projects are about 70 days late when compared to original estimates.
The average project budget changed six times, while the schedule changed five times—causing an average of 15% increase in cost. Budgetary and cost changes also resulted in projects being delivered 69 days late on average.
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