International competitiveness of U.S. construction firms

The U.S. share of construction projects overseas has been decreasing over the past decade.The reasons most cited for the declining U.S. market share are the world economy, financing, government intervention, and competition. Some suggestions for improving competitiveness are: moving away from cost-plus-fixed-fee bids to fixed-price bids on projects; using computers to save on design and engineering costs; taking on smaller projects; and reviewing internal strategies for areas that can be improved.There are many reasons why U.S. construction companies are facing problems in the international market, but there may be simple methods for future improvement.Management techniques, as well as cultural integration with the project locale are important to the success of the project.With strategic project management, the construction industry can attempt to hold its share of the global market, and expand it in the future.
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