ICC2020 | The Case to Keep Building
Matthew Mackey FRICS
Cost Legend @ Arcadis | Founder of Property Leaders Brisbane
The continuing development of COVID-19 has resulted in uncertain times and despite mounting evidence that this might be the ‘new normal’ for the foreseeable future, we are all holding onto hoping that it is only a temporary blip. That the beaches, pubs and clubs will be open in a few weeks’ time and that investor-driven industries like construction will be able to ‘see-through’ the short-term turbulence to bounce-back later in the year.
Like many of you, I have read about the various models that could be employed in response to the virus – all with the aim of ‘flattening the curve’. Some seem to be far more draconian, but no less necessary, than others. Some set out in stark detail the necessity for measures like school closures and self-quarantine, together with the very positive impact they are expected to have – reducing death rates and pressure on intensive-care units.
The other key insight that is becoming increasingly clear, is that the virus won’t go away quickly. Infection rates have fallen in China because of extreme suppression measures which have included the isolation of whole city populations. When business as usual returns, it is possible that COVID-19 will return as well.
When the fight against the virus is described as a war, it’s likely to be an accurate description. A war is long haul, punctuated by a series of battles. Wars take years. One of the scenarios that has modelled is a one-to-two-year period of disruption, characterised by on-off periods of lock-down and business as usual, as the impact of COVID-19 waxes and wanes.
But how do you manage a business or an economy when market conditions are so volatile and uncertain?
Continue reading on the full article here, where I further explain:
- The first priority in keeping our people healthy and safe with lessons learn from what happened in Italy and globally
- The business continuity as we can recall in the immediate aftermath of the 2008 financial crisis.
- Planning for long-term recovery.
- Challenges and opportunities in construction.
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5 年Thanks for sharing, Matthew.
Addressing Cost Escalation in Construction - Through Supply Chain Optimisation.
5 年Great article Matt, thank you for taking the time to write it. All levels of government have a huge role to play in the recovery of every sector. We have seen some great initiatives so far to keep business afloat. Can you see the Chinese now they are almost back up and running wanting to buy our natural resources again? Could that be the first economic boost or boom we need? I see BHP in Queensland are hiring 1000 new staff are they preempting a boom?