While environmental, social, and governance (ESG) performance is increasingly becoming a focus in the design and construction industry, there remains quite a bit of confusion over the goals behind ESG and their impact on design firms. Some of the questions that seem to be percolating around ESG are: Is it about concern over profits? Is... Continue Reading →
Environmental, social, and governance (ESG) considerations are increasingly important to design firms for a variety of reasons. In this post, we will explore why ESG matters to design firms and how they can integrate these considerations into their projects and business practices. First, it's important to understand what ESG means. Environmental considerations relate to a... Continue Reading →
As 2022 winds down and we look back, the biggest story (other than the war in Ukraine) was the passage of the most historic climate law in US history, the Inflation Reduction Act (Act). The new law aims to transform the US economy to align with the global urgency of taking action to mitigate the... Continue Reading →
Earlier this year, the US passed the Inflation Reduction Act of 2022, with $369 billion in funding intended to cut climate pollution in half by 2030 (from 2005 levels). The private sector is also embracing capital-allocation strategies that take environmental, social, and governance (ESG) issues into account with their business practices. Over the next few... Continue Reading →
It’s that time of year when gifts among friends are common. If those friends are in private firms or public agencies, however, those gifts can cost both parties their careers. Even the appearance of impropriety can create a public relations nightmare. As federal money flows through state and local agencies, there is an increased danger... Continue Reading →
As part of its Report Card for America’s Infrastructure project, the American Society of Civil Engineers (ASCE) recently released a map of projects funded by the Infrastructure Investment and Jobs Act. ASCE created the resource in collaboration with economic development non-profit Accelerator for America to showcase the impact of the five-year federal investment. Firms can use... Continue Reading →
At Victor, our professional liability underwriters and risk managers are often asked how risk and professional liability changes for design firms using advanced digital technologies (such as generative design, DfMA (Design for Manufacturing & Assembly), VR/AR, BIM, Digital Twins, etc.). The simplest answer is that humans manage all technologies and the liability question and associated... Continue Reading →
The American Council of Engineering Companies (ACEC) Research Institute, in partnership with the University of Colorado, has released, “Design-Build State of Practice: Recommendations for Agencies and Industry on Effective Project Delivery,” a landmark study that examines design-build project delivery features and challenges that affect the success of the project. More importantly, the report highlights recommendations... Continue Reading →
Insurance is a bottom-line business. It’s a simple concept: collect a premium now for what you can predict is the future need for coverage of the transferred risks. In practice, however, it is a complex and somewhat speculative wager on factors that are beyond the insurer’s control. In today’s environment, when material prices are unpredictable,... Continue Reading →
Hurricane Ian hit the west Florida coastline with winds in excess of 120 miles per hour. The hurricane flooded cities and devastated homes across Florida and coastal South Carolina. According to Enki Research, Hurricane Ian’s projected economic damage could be as high as $75 billion, and may end up among the five costliest to hit... Continue Reading →
