BELL's Building Division Manager Eric Pyle is featured in the November edition of Construction Executive Magazine with his response to the question:
The impact of COVID-19 on our economy will be the biggest challenge for the construction industry in 2021 and beyond. Some forecasts show that Q1 of 2021 will be slow for new construction, which presents a risk for the industry.
To mitigate this risk, contractors will need to prepare for the potential of subcontractor default due to aggressive bidding, overcommitment to projects and the lack of qualified workforces. This will increase the demands on management staff, including construction managers and owners, to address issues early.
Supply chain, including availability of materials and the global manufacturing market, will continue to be affected. It is likely that designers will be forced to source domestic products to keep projects on schedule.
Despite these challenges, I believe the amount of construction backlog across the country will mitigate the overall impact of the pandemic, and the industry will continue to thrive.