When planning a construction project, budgeting is key. Overruns can lead to frustrated clients and shut down a project. Accurate construction cost data is essential for planning and estimating. Old data won't account for notable changes in material, labor and equipment prices. Knowing the current and future cost of steel is necessary when planning projects. As a leader in construction data, software and expertise, Gordian examines long-term construction cost trends of the industry's vital materials. Last year, the company tracked steel costs in anticipation of announced tariffs. Using a material index in its RSMeans data construction cost database, Gordian established steel's long-term cost pattern of steady one percent growth.
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