Construction Safety Programs Are Yielding Business Benefits for Firms, According to New McGraw Hill Construction Report

Press Release

Construction Safety Programs Are Yielding Business Benefits for Firms, According to New McGraw Hill Construction Report

NEW YORK –June 20, 2013— Contractors are reporting business benefits from instituting strong safety programs, according to a new report by McGraw Hill Construction on safety management in the construction industry, available at http://analyticsstore.construction.com/market-trends/smartmarket-reports/safety-management-in-the-construction-industry-smartmarket-report-2013.html?sourcekey=SMRPRES.

In particular, construction companies report the following benefits due to the implementation of safety management practices: 

·         51% report increases in project ROI; with a fifth of those reporting increases of greater than 5%

·         43% report faster project schedules, with half reporting schedule improvements of a week or more

·         39% report a decrease in project budget from a safety program, with a quarter reporting decreases of 5% or more. Only 15% reported that safety programs cost firms more—debunking the myth that safety has to negatively affect a firm’s bottom line.

·         82% report an improved reputation

·         71% report lower injury rates

·         66% report they have a greater ability to contract new work

·         66% report better project quality 

“Safety programs are not only creating safer places for their workers, but they are also improving firms’ bottom lines,” said Michele A. Russo, director of research communications, McGraw Hill Construction. “Overall, construction companies—large and small—are reporting positive financial impacts from safety programs—and the size of those benefits increase as the depth of the program increases. In an industry that operates on low margins, this is a powerful finding.”

The study also found that 92% of large contractors (firms with over 500 employees) and 48% of smaller firms have instituted fully inclusive and widely observed safety programs, meaning that larger firms are capitalizing more on these business benefits as compared to smaller contractors and subcontractors.

 “McGraw Hill’s report confirms the importance of safety within our industry, and highlights the tangible gains that can be seen across any business,” said Jim Dorris, vice president, health, safety, environment & sustainability, United Rentals, Inc. “United Rentals has found that investing in resources aimed at sustainable safety excellence not only creates a safer work environment, it also increases productivity, reduces costs, enhances the company's reputation, and grows the business.” 

 Firms are reporting that onsite safety training and education programs are currently most widely adopted (reported by 95% of firms) and considered most valued to jobsite workers (82% find it valuable). Online training programs are still an emerging trend, though the increase in mobile tools onsite will likely influence that.

 "Every day in America, an average of 13 workers die on the job from safety-related incidents. An industry-wide culture of safety is essential to eliminating that figure, and this research study proves the many benefits, for our companies and our workers, of creating that culture,” said Brian Tonry, executive vice president and general manager, ClickSafety. "As more and more companies understand and realize the return on investment of safety programs, we will see more widespread adoption of sustainable initiatives throughout the industry, moving us closer to our collective zero-injury goal."      

 Key industry trends—such as the increased use of mobile tools on construction sites, building information modeling (BIM) and prefabrication/modular construction practices—are also helping to improve safety outcomes for firms, indicating the improved safety expectations that will be placed on construction companies moving forward. Notably, the 43% of the industry report BIM having a positive impact on project safety and 49% report the same positive impact from prefabrication/modular construction. Mobile tools, such as Smartphones, iPads and iPhones also are reporting safety as reported by 82%, 81% and 78% of contractors, respectively.

 “The survey results confirm what our research has led us to believe: safety is a sound investment. The firms implementing sound safety practices are boasting leaner project costs overall, faster production, reduced injuries, and better project quality,” said Pete Stafford, executive director, CPWR. 

 The study’s premier partners include CPWR—The Center for Construction Research and Training, ClickSafety, United Rentals, and the National Institute of Building Sciences, its association partner.

 On Wednesday, June 26, McGraw Hill Construction will be presenting key findings at the American Society of Safety Engineers Safety 2013 Expo at the Las Vegas Convention Center at ClickSafety’s Booth #1437 at 9:15 am and 2:00 pm.

 To download a copy of the Safety Management in the Construction Industry SmartMarket Report, visit http://analyticsstore.construction.com/market-trends/smartmarket-reports/safety-management-in-the-construction-industry-smartmarket-report-2013.html?sourcekey=SMRPRES.

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About McGraw Hill Construction:
McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare® and Dodge SpecShare®. Construction data is available for North American and global markets.  To learn more, visit http://www.construction.com.

About McGraw Hill Financial:
McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, McGraw Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.

Media Contact:
Kathy Malangone, Senior Director, Marketing Communications, McGraw Hill Construction, +1 212-904-4376, kathy.malangone@mhfi.com

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BIM Adoption Expands from 17% in 2007 to over 70% in 2012, According to New McGraw-Hill Construction Report

Press Release

BIM Adoption Expands from 17% in 2007 to over 70% in 2012, According to New McGraw-Hill Construction Report

NEW YORK – January 31, 2013 – According to its latest SmartMarket Report, "The Business Value of BIM in North America: Multi-Year Trend Analysis and User Ratings (2007–2012)," produced by McGraw-Hill Construction, BIM adoption expanded from 17% in 2007 to 71% in 2012, demonstrating impressive growth despite the recent economic pressures.
"Though it may seem counterintuitive to increase spending during a recession, the research indicates that the industry is continuing to invest in a more efficient and productive future by embracing technologies and processes of BIM," said Stephen Jones, senior director at McGraw-Hill Construction and research director of the report.
"The results of the survey validate many key trends we are seeing in North America — notably, the strong growth of BIM in construction and adoption amongst owners, architects and engineers," said Phil Bernstein, vice president, strategic industry relations at Autodesk. "The results also point to the increased business benefits that all users derived from using BIM, such as better profits, more accurate documentation, less rework, reduced project duration, fewer claims and the ability to offer new services."
The report states that owners are becoming an important driving force to this increased adoption.  Patrick MacLeamy, CEO of HOK and chairman of buildingSMART International, predicted, "Over the next ten years, building owners will demand ever-increasing usage of BIM as a precondition, ushering in a new era of accuracy, quality and sophistication for the building industry."

As a way to quantify users’ level of commitment to BIM, McGraw-Hill Construction developed a BIM Engagement Index, calculated from each BIM user’s skill level, years of BIM experience, and percentage their projects that use BIM. McGraw-Hill Construction found that:

13% of BIM users demonstrate a very high BIM engagement level (e-level), requiring expert skill level, five or more years of experience, and implementation of BIM on more than 60% of their projects. 67% of the very high e-level users report a very positive ROI on BIM (25% or higher) versus only 20% of low e-level BIM users, two-thirds of whom are at negative of break-even ROI. 52% of very high e-level users experience increased profits from their use of BIM compared to the 36% average for all users.

BIM, an innovative approach to design and construction for pioneering early adopters just a few years ago, is now taking its place firmly in the mainstream of the North American construction industry.

"McGraw-Hill's SmartMarket Report series on the Business Value of BIM has provided the industry with relevant research and metrics on BIM adoption and return on investment," said Mike Ozatalar, vice president and manager of Engineering, Parsons. "Parsons is proud to be a sponsor of this report and continues to provide contributions in the engineering and construction industry in BIM and integrated design and delivery solutions."

For more key findings from the SmartMarket Report "The Business Value of BIM in North America: Multi-Year Trend Analysis and User Ratings (2007–2012)," visit http://bit.ly/ViCIzO.

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About McGraw-Hill Construction: McGraw-Hill Construction’s data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record— create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics. To learn more, visit www.construction.com.
About The McGraw-Hill Companies:  The McGraw-Hill Companies (NYSE: MHP), a financial intelligence and education company, signed an agreement to sell its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management, LLC in November 2012. Following the sale closing, expected in early 2013, the Company will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a powerhouse in benchmarks, content and analytics for the global capital and commodity markets. The Company's leading brands will include: Standard & Poor's, S&P Capital IQ, S&P Dow Jones Indices, Platts, Crisil, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Company will have approximately 17,000 employees in more than 30 countries.  Additional information is available at www.mcgraw-hill.com.
Media Contact: Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.com

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Quality and Value Driving Growth in the Green Building Market—According to New McGraw-Hill Construction SmartMarket Report on Green Homes and Remodeling

Press Release

Quality and Value Driving Growth in the Green Building Market—According to New McGraw-Hill Construction SmartMarket Report on Green Homes and Remodeling
Energy efficiency efforts become standard in new construction and remodeling projects, while remodelers place high value on waste management and sustainable materials.

May 1, 2012 - New York, NY

McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), today released its latest SmartMarket Report: New and Remodeled Green Homes: Transforming the Residential Market at the National Association of Home Builders' (NAHB) National Green Building Conference and Expo. The report includes McGraw-Hill Construction's estimate that the green homes share of the construction market was 17% in 2011, equating to $17 billion, and expected to rise 29%-38%  by 2016, potentially a $87–114 billion opportunity, based on the five-year forecast for overall residential construction.

The report reveals that two of the key factors driving this market growth are the fact that green homes are seen as having higher quality and that they save consumers money.

"In the current residential market, there is an enormous need to differentiate your homes for consumers," says Harvey Bernstein, Vice President of Industry Insights and Alliances at McGraw-Hill Construction. "When builders are able to offer homes that not only are green, but also offer the combination of higher quality and better value, they have a major competitive edge over those building traditional homes."

This report, produced by McGraw-Hill Construction in conjunction with the NAHB and Waste Management, is designed to provide key insights into product and market opportunities in the single-family home building and remodeling industries. It is backed by proprietary research surveys and the power of the McGraw-Hill Construction Dodge database.

"NAHB builder and remodeler members were surveyed on their green building practices, which allowed us to shine a light on the state of the green market in this new report," said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. "The results highlight the tremendous growth in green building, and the potential market opportunities that lie ahead. As more projects seek green certification, NAHB and the NAHB Research Center stand ready to meet the demands of this exciting and ever-changing market."

Factors driving the growth in the green home building and remodeling market include:

Higher quality for both new home builders and remodelers. For those doing a high volume of green homes (at least 60% of the homes they build), its importance is magnified, with 90% who regard higher quality as an important trigger for building green, compared to 72% of builders overall.Customers are strongly value-driven—around two-thirds of builders and remodeler respondents state that customers request green homes or remodeling projects in order to lower their energy use or save money, more than twice any other factor.Higher first costs for building green are noted by a much lower percentage of builders as an obstacle now than they were reported in 2008.

The study also reveals the key practices and technologies taking over in the residential marketplace as a result of the shift toward green:

More than 80% report that energy efficiency is making today's homes greener compared to two years ago. Use of energy-efficient features is pervasive in the market—the top practice by nearly all surveyed builders and remodelers, regardless of their level of green building activity.Indoor air quality is growing in importance and focus for home builders. 60% of home builders believe that efforts to improve indoor air quality make homes greener than they were two years ago, and 95% of high volume home builders report including features that impact air quality.More than half consider durable materials one of the most important features in their homes today. In particular, remodelers emphasize this key aspect of their projects. Durability and better materials are key reasons why green homes and remodeling projects are considered of higher quality.

"These findings confirm the shift we've seen in the market," says Jim Halter, Vice President, Construction Solutions for Waste Management. "Builders and remodelers are placing more emphasis on energy efficiency, increases in sustainability focused waste management practices and more products made from post-consumer materials. These important factors are pushing our industry forward."

The key findings from the study were presented by McGraw-Hill Construction on May 1 at a plenary session at NAHB's National Green Building Conference and Expo in Nashville, Tennessee, followed by a panel of industry experts discussing its impact on the market. For a copy of the report, visit http://analyticsstore.construction.com/index.php/new-and-remodeled-green-homes-transforming-the-residential-marketplace-2012.html .

About McGraw-Hill Construction:
McGraw-Hill Construction's data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record—create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics. To learn more, visit www.construction.com.

About The McGraw-Hill Companies:
McGraw-Hill (NYSE: MHP) announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a provider of content and analytics to global financial markets, and McGraw-Hill Education, an education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services, and J.D. Power and Associates. With sales of $6.2 billion in 2010, the Corporation has approximately 21,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

About The National Association of Home Builders:
The National Association of Home Builders (NAHB) is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year.

About Waste Management, Inc.:
Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The company's customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management visit www.wm.com or www.thinkgreen.com.

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Media Contacts:

Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.com

Liz Thompson, Media Relations Manager
National Association of Home Builders, 202-266-8495, ethompson@nahb.org

Robert Kidwell, Communications Specialist
Waste Management, 713-512-6318, rkidwell@wm.com

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Stalled Construction Projects and Financing Report

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