Project teams work around the clock on the National Stadium in Warsaw, Poland.
Growth will be spotty and sporadic, however, as investments shift,
government-funded stimulus projects
wrap up and privately financed projects continue to rise, says Anirban
Basu, chief economist at the Associated Builders and Contractors, Baltimore, Maryland, USA.
He predicts that the first wave of
major project management job opportunities will be on maintenance projects.
“For the last three years, these
industries have been deferring maintenance because of cash-flow issues, but
now companies feel more confident
and they have the capital to pay for
projects,” Mr. Basu says.
Job opportunities could be particularly substantial in the energy sector,
where refinery maintenance can take
years. But, he says, project managers
need to be well-versed in managing a complex
Toward the second half of 2011, Mr. Basu
predicts the momentum will translate into new
construction. “I don’t expect to see a breathtaking
number of new projects, but people are beginning
to plan projects that will break ground in late
2011, 2012 and 2013,” he says.
IMAGE COURTESY SKYSCRAPERCITY FORUMS
EMERGING MARKETS SOAR
As in the overall economic picture, the construction outlook looks much brighter in emerging
“These countries will see a much hotter con-
struction market in the years to come because
they have such a deficit of modern housing, infra-
structure and industrial capacity,” Mr. Simonson
explains. “They can afford to make these invest-
ments and they have the imperative to do so
to meet the demands of consumers who want
homes, roads and goods made in factories.”
China, for example, is the largest infrastructure
market in the world, making up nearly 40 percent
of global demand, according to The Global Infra-
structure Marketplace: The Next 20 Years, a report
released in January by CG/LA Infrastructure.
“The volume of projects in India and China is
massive,” Mr. Basu says. “It’s staggering how much
construction is taking place there right now.”
In India, that growth translated into the
creation of 1.13 million jobs last year, with real
estate and construction driving the momentum,
according to the 2010 Ma Foi Randstad Employ-
ment Trends Survey released last December by
an Indian human resources services provider.
The survey results underscore India’s rapid post-
recession recovery, which bodes well for hiring
and salary increases.