EGYPS - 2020

The COVID-19 pandemic and its attendant effect on markets and commercial activity is presenting a range of challenges to the engineering and construction (E&C) industry — challenges that could deepen depending on the severity and length of the crisis in the US and globally. Uncertainty surrounding the duration and severity of this crisis make it hard to anticipate how a recovery could unfold for the industry. 

Some construction projects have been delayed, and some canceled, as a result of the impacts of COVID-19 on the companies and governments that commissioned them.

Steps to consider

• Work closely with municipal, state and federal governments to coordinate plans for worker and consumer safety, while keeping mission-critical projects running.
• To help assess labor costs, consider workforce contingency planning scenarios, including during a period of diminished demand and activity.
• Review capital and corporate cost budgets to help identify not only marginal investments, but also discretionary items that can be cut.