Even with President Biden’s $1.2 trillion infrastructure bill, big projects are at significant risk of delays that result in higher costs. To combat schedule and cost overruns, innovative thinking and new technologies must be implemented that overcome setbacks, such as design and engineering challenges, permit issues and lack of resources.
All kinds of infrastructure projects — both greenfield and brownfield — cost what they do for some very specific reasons. According to Ryan Gow, a Toronto-based director at Fiera Infrastructure, “The cost of developing, constructing and in some instances maintaining infrastructure projects depends on a number of factors, including the scale, complexity, location, and, importantly, risk transfer between contracting parties.”
During the 2020s, material and labor costs have risen markedly. This has happened while the infrastructure industry increasingly uses technology to enable smarter and more environmentally sensitive initi