FMI’s Post

The FMI 2024 Labor Productivity Study Part 2: Prefabrication reveals that contractors expect their prefabrication labor hours to double in the next five years. This bold vision demands significant commitment and investment. Learn more from Tyler Paré in the link below!

On average contractors expect their prefabrication labor hours to double in the next five years, according to part 2 of FMI's Labor Productivity Study. 🔗 https://bit.ly/3A4zUqs But it’s not enough to simply grow. You need to expand prefabrication based on a sound strategy and clear operational playbook to ensure you get the most out of your efforts. In a recent blog, we examined a couple high-level scenarios to think through how to understand the opportunities for prefabrication. Learn more here: https://bit.ly/3A4zUXu #Prefabrication #ConstructionLaborProductivity

When talking about field labor productivity and producing more output with less input, the concepts of off-site construction and prefabrication are invariably part of the conversation. In our research, we sought to understand how labor-intensive firms are incorporating these industrialized construction concepts into their business models to address internal and external challenges impacting labor productivity. Download Part 2 of FMI's Labor Productivity Study to learn more about the current state of prefabrication and how to successfully integrate it: https://lnkd.in/gPa_JCsC #LaborProductivity #Prefabrication #ConstructionTrends #FutureOfConstruction

We've been tracking offsite construction for decades. While some companies successfully integrate prefabrication into their operations, many struggle. Our latest research highlights key trends and challenges contractors face and provides strategic approaches for a successful transition. Discover how to make offsite construction work for your business!

Shout out to FMI's Michael Keller for sending this link my way. Click through for the full report: https://lnkd.in/gTqWydz5 "Labor productivity is the central economic engine that drives profitability for labor-intensive, self-performing contractors. FMI’s 2023 Labor Productivity Study found that contractors experienced approximately $30 billion to $40 billion in lost profits due to labor inefficiencies in 2022. When talking about field labor productivity and producing more output with less input, the concepts of off-site construction and prefabrication are invariably part of the conversation. In our research, we sought to understand how labor-intensive firms are incorporating these industrialized construction concepts into their business models to address internal and external challenges impacting labor productivity. Key findings include: 78% of those surveyed saw schedule savings using prefabrication. 66% found cost savings with prefabrication. 16% of craft labor hours are currently spent in prefabrication and that is expected to increase to 34% in five years...." . . . #prefabrication #offsiteconstruction #construction #LaborProductivity #buildingmaterials

Check out this inforgraphic for stats and facts on how prefab can benefit your contracting business. #prefab #mep https://bit.ly/3UAXLX2

Get ready for a surge in prefabrication activity by contractors. FMI, the consulting and investment banking firm, recently polled contractors about how much time they were spending, in craft labor hours, on prefabrication for construction projects. More than 250 contractors participated in the survey, and the average response to that question was 18%. More revealing, however, was the participants’ anticipation that craft hours dedicated to prefab would essentially double, to 34%, within the next five years. Benefits include reduced construction schedules and improved worker safety.

Get ready for a surge in contractors' prefabrication activity. FMI, the consulting and investment banking firm, recently polled contractors about how much time they spent in craft labor hours on prefabrication for construction projects. More than 250 contractors participated in the survey, and the average response to that question was 18%. More revealing, however, was the participants' anticipation that craft hours dedicated to prefab would essentially double to 34% within the next five years.

In today's construction market, the utilization of prefabricated cold-formed steel building components is not just a trend, but a transformative approach. These components are promoting quicker build times, reducing on-site waste, and ensuring consistent quality. Moreover, their sustainable nature aligns with the global push for eco-friendly solutions. If you're in construction, now's the time to harness the benefits of cold-formed steel. Build smarter and greener together with MAC Prefab! 🔧🏢 #coldformedsteel #cfs #ConstructionInnovation #SustainableBuilding #FutureOfConstruction Matt Cormier

#ConstructionTrends: The rise of modular construction involves prefabricating buildings off-site in factories and then assembling them on-site. This method offers efficiency, improved labor productivity, safety, and cost-effectiveness, which is driving its increasing demand and market growth within the industry. 🛠️🏗️