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 →
ESG factors in investment decision-making has become a “hot potato” topic because it’s largely misunderstood, broadly defined, and the guardrails for companies to report on metrics have not yet been standardized. That said, it’s not too early for design firms to engage meaningfully, given their role in all things climate and many things social. To... Continue Reading →
Flood maps used by the Federal Emergency Management Agency (FEMA) are out-of-date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change. One study came to the same conclusion: a 2020 evaluation of flood risk by the non-profit group First Street Foundation, which analyzed every property in the... Continue Reading →
Our last post focused on the first step in digital practice: creating a BIM Exhibit. Once the contracting parties attach that exhibit to the design and construction contract forms, they have to expand the agreement on model sharing and reliance issues through a project-specific BIM Execution Plan (“plan”). The AIA Contract Documents program created G203-2022,... Continue Reading →
