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Broken Buildings, Busted Budgets: How to Fix America's Trillion-Dollar Construction Industry
Broken Buildings Busted Budgets How to Fix America's TrillionDollar Construction Industry Author:Barry B. LePatner Boston’s Big Dig broke ground in the mid-1980s, and ten years later broke records as the most expensive highway project in U.S. history, running nearly $10 billion over budget. But it’s only the most visible example of an increasingly common trend. Across the nation, construction projects large and small—from hospitals to schoo... more »ls to simple home improvements—are spiraling out of control with delays and cost overruns.
Clearly, the construction industry is in urgent need of reform. In Broken Buildings, Busted Budgets, prominent construction attorney Barry B. LePatner builds a powerful case for change in America’s sole remaining “mom and pop” industry—an industry that consumes $1.23 trillion and wastes at least $120 billion each year. With three decades of experience representing clients that include eminent architects and engineers, as well as corporations, institutions, and developers, LePatner has seen firsthand how this risk-averse industry is plagued by bad management, ineffective supervision, and insufficient investment in technology. In an engaging and direct style, he here pinpoints the issues that underlie the industry’s woes while providing practical tips for anyone in the business of building, including advice on the precise language owners should use during contract negotiations.
As a recent Brookings Institution report highlights, the United States will spend $25 trillion on construction by 2030. A full $3 trillion of that will be wasted if the system continues unchecked, and we will all pay the price. Now, armed with Broken Buildings, Busted Budgets, everyone involved in the purchase of a building—from homeowners seeking to remodel to civic developers embarking on large-scale projects—has the information they need to change this antiquated industry, one project at a time.« less