MIT 1 463J - Globalization of E&C Industry (38 pages)

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Globalization of E&C Industry



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Globalization of E&C Industry

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Pages:
38
School:
Massachusetts Institute of Technology
Course:
1 463j - The Impact of Globalization on the Built Environment

Unformatted text preview:

1 463 Globalization of E C Industry Fred Moavenzadeh Session 2 Fall 2009 The engineering construction industry is currently in a transition state Forces from both the demand and the supply sides have made it necessary to re examine strategies for growth and competitiveness Fall 2009 Constructed Facilities Setting Demand Setting Constraints Establishing Limits to intrusion Need for protection Natural System Technological System Social System Establishing Policies Regulations Norms and Standards Enabling Supply Provision Providing Know how Management Organization Fall 2009 The Role and Importance of Construction in Economic Development Construction Sector Contribution to Gross Domestic Product GDP Construction Role in Gross Fixed Capital Formation Construction Sector Contribution to Employment Construction Industrialization and Economic Growth Backward Linkages Forward Linkages Other Contributions Fall 2009 Construction Construction is known as the engine of growth By any standards it is a giant Some have recently called it a sleeping giant All indications are that it is reawakening Fall 2009 Two Sets of Issues of Concern to the Engineering Construction Industry I How is demand for its output generated and affected by modern societies II How is the industry s supply system shaped to cope with changing demand Fall 2009 Era of constant growth comes crashing down Change annual 12 8 4 0 4 8 8 9 8 9 4 1993 1994 1995 1996 1997 12 12 10 6 5 2 1998 1999 2000 2001 2002 5 13 3 2007 2008 2009 2003 2004 2005 2006 7 8 12 12 Figure by MIT OpenCourseWare Fall 2009 Total Value of Construction Put In Place 1400 1200 1000 800 1023 49 1132 15 1194 94 1168 55 1070 25 873 09 921 4 958 04 600 400 200 0 2002 2003 2004 2005 2006 2007 Source US Department of Commerce Annual Value of Construction Put in Place in Current Dollars 2008 2009 Fall 2009 Private Construction in 2004 Total 999 76 Billion Residential 14 7 Lodging 25 82 Office Commercial 13 02 6 6 Health Care 8 57 Educational 8 08 12 88



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