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Download PDF Version THE TOP PROFESSIONAL SERVICES FIRMS Overview p. 30 // CM/PM-for-Fee Revenue p. 30 // The Top 20 Firms in Combined Design and CM/PM Professional Services Revenue p. 31 // The Top 20 Firms in Combined Industry Revenue p. 31 // The Top 50 Program Management Firms p. 32 The Top 100 CM-for-Fee/Program Management Firms p. 33 BAYVIEW Project Management NUMBER 51 Advisors Inc. is construction manager for One Steuart Lane, a 20-Story luxury condominium tower in San Francisco currently under construction. CM FIRM RENDERING BY BINYAN STUDIOS, COURTESY OF PROJECT MANAGEMENT ADVISORS INC. OF PROJECT MANAGEMENT COURTESY STUDIOS, RENDERING BY BINYAN Planning for Post-Crisis Future Professional services firms have been affected by COVID-19, but clients are now relying on them to advise on what comes next. By Gary J. Tulacz enr.com June 22/29, 2019 ENR 29 0622_TopPSF_Intro_F.indd 29 6/16/20 3:49 PM COLLIERS INTL. GROUP INC. is program manager for Partners THE TOP PROFESSIONAL SERVICES FIRMS #11 HealthCare’s plan to open four outpatient surgery centers in Mass. Domestic CM-PM Fees Rise 2019 2017 2018 $18.88 $18.20 $ BILLIONS DOMESTIC REVENUE INTERNATIONAL REVENUE 2015 2016 $17.74 $16.62 $16.63 2011 2013 2014 $15.22 $14.62 $14.83 2012 $14.34 2016 2015 $6.78 2018 2019 2012 2014 $6.04 2013 2017 $5.58 $5.55 $4.87 $5.08 $4.79 $4.40 2011 $3.38 SOURCE: ENR As the nation struggles to cope with the disruptions growing trend of owners who are looking for expertise caused by the COVID-19 pandemic, construction beyond that which their core internal resources can fi rms of all types have been thrown off balance. Firms provide,” he says. delivering professional services to the industry have Professional services fi rms have become particu- been just as affected. But there is one major difference larly active in the high-tech arena. McCarron says with this group when compared to designers and con- large development programs are common among tractors. Clients increasingly are calling on profes- “COVID-19 is owners in that sector as internal restructurings have sional services fi rms with the pressing question : “What the ultimate resulted in more and more disparate information man- do we do now?” megaproject. A agement and reporting practices, both among internal third-party PM Owners had already been steadily increasing the specialist, if and outsourced teams. use of professional services fi rms to help plan and prepared, can On the private side, where fi rms are experiencing deliver projects in the most effi cient and cost-effective assist you in more fi nancial pressure, some fi rms are fi nding that way possible. The growing interest can be seen in the contingency owners are turning more toward professional services results of this year’s ENR Top 100 Construction planning and fi rms “to advance capital projects as the third-party evaluating Management-for-Fee and Top 50 Program Manage- alternatives for model provides them more fl exibility around internal ment Firms list. Revenue for the CM-PM group was projects to resources required as their capital spending varies,” up 2.7%, to $24.43 billion in 2019 from $23.78 billion continue or says Jonathan Winikur, executive managing director in 2018. Domestic revenue from their work was pause.” at Colliers International. stronger, rising 3.8%, to $18.88 billion; but CM-PM Shawn Mahoney, Despite the surge in interest in professional ser- revenue from projects and programs abroad fell 0.6%, CEO of OAC vices, some fi rms are fi nding increasing pressure on to $5.54 billion in 2019. Services, Inc. their fees. “Certain agencies are placing more empha- Over the past few years, CM-PM fi rms have seen sis on cost as an evaluation criteria for selecting profes- their roles evolving. General project management is sional services,” says Paul Bews, division director for giving way to more complex planning, fi nancing and Ghirardelli Associates. For example, the Los Angeles cost estimating as owners’ programs grow larger and County Metropolitan Transportation Authority has a more involved. “The role of the agency CM or PM has policy to assign 20% of proposal evaluation criteria to an increasing focus on project planning, team coordi- price. He says agencies are looking for greater cost nation and facilitation during project development and certainty by negotiating fi xed-price costs for profes- the design phase,” says Steven Whitehead, president sional services, rather than paying by the billable hour. of Vanir Construction Management. Part of this trend results from owners reducing in- Coronavirus Hits ternal project staff during times of economic uncer- Like all industry fi rms, professional services fi rms have tainty, says Roger McCarron, CEO of Project Man- felt the impact of COVID-19. But, in states where agement Advisors Inc. “But there has also been a construction was deemed essential and not subject to 30 Ⅲ ENR Ⅲ June 22/29, 2020 enr.com 0622_Top_PSF_Overview.indd 30 6/16/20 2:16 PM GARDINER & THEOBALD is the program manager on the 90-acre #14 Buffalo Centennial Park, a waterfront OVERVIEW redevelopment plan in Buffalo, N.Y. closures, most work proceeded as “business as usual,” says Andrea Rutledge, CEO of the Construction Man- The Top 20 Firms in Combined agement Association of America, McLean, Va. Some Design and CM-PM projects have actually been accelerated, particularly in transportation, as traffic flows have declined. “In nor- Professional Services Revenue mal times, the last thing you need is a road closure on 2019 REVENUE IN $ MIL. I-66 around the Beltway in Washington, D.C., but now RANK DESIGN CM/PM-FOR- TOTAL 2020 FIRM REVENUE FEE REVENUE REVENUE it is not a problem,” she says. 1 JACOBS, Dallas, Texas $9,676.8 $3,061.0 $12,737.8 Rutledge says that CMAA members have been 2 AECOM, Los Angeles, Calif. $7,967.5 $4,118.1 $12,085.6 pleasantly surprised at how generous industry firms 3 BECHTEL, Reston, Va. $1,037.0 $3,227.0 $4,264.0 have been to share best practices in safely dealing with 4 PARSONS, Centreville, Va. $1,510.3 $2,396.5 $3,906.8 the pandemic. She also is happy with how transparent 5 KBR INC., Houston, Texas $3,331.0 $- $3,331.0 industry firms and owners have been in dealing with 6 TETRA TECH INC., Pasadena, Calif. $3,179.0 $40.0 $3,219.0 the impact of the virus. 7 JLL, Chicago, Ill. $- $3,085.2 $3,085.2 Most firms have been hit by COVID-19. “There 8 WOOD, Houston, Texas $2,680.6 $293.9 $2,974.5 have been delays to outright cancellations of about 9 HDR, Omaha, Neb. $2,325.6 $270.5 $2,596.1 10% of our backlog, but we anticipate there may be 10 WSP USA, New York, N.Y. $1,984.3 $243.3 $2,227.6 further delays and cuts when clients have a better idea 11 STANTEC INC, Irvine, Calif. $1,881.0 $145.2 $2,026.2 of the loss of revenue to fund their capital programs,” 12 BURNS & MCDONNELL, Kansas City, Mo. $1,795.9 $112.9 $1,908.8 says Blake Peck, CEO of McDonough Bolyard Peck. 13 ARCADIS NORTH AMERICA/CALLISON RTKL, Highlands Ranch, Colo. $1,492.0 $302.0 $1,794.0 Many private sector clients are pausing to see what 14 CBRE, Los Angeles, Calif. $- $1,747.7 $1,747.7 happens as a result of the crisis. For example, “venture 15 BLACK & VEATCH, Overland Park, Kan. $1,510.6 $102.9 $1,613.5 capital spending has started to slow as market impacts 16 GENSLER, Los Angeles, Calif. $1,523.1 $- $1,523.1 are uncertain,” says Shawn Mahoney, CEO of OAC 17 SNC-LAVALIN INC., Tampa, Fla. $1,143.9 $378.9 $1,522.8 Services Inc. This will affect private sector projects as 18 HNTB COS., Kansas City, Mo. $1,414.9 $- $1,414.9 new startups will run out of money before they deter- 19 INTERTEK-PSI, Arlington Heights, Ill. $1,395.6 $- $1,395.6 mine the size of large facility build-outs, he says. 20 KIMLEY-HORN, Raleigh, N.C. $1,120.6 $- $1,120.6 Further, owners who were on the “edge” financially are being displaced or are reorganizing to find what the new normal will mean for their markets. “They are The Top 20 Firms in seeking out experienced third-party professional ser- Combined Industry Revenue vices of all kinds to assist in navigating through the 2019 REVENUE IN $ MIL. rough and uncertain conditions we find ourselves in,” RANK CONTRACTING DESIGN CM/PM-FOR- TOTAL 2020 FIRM REVENUE REVENUE FEE REVENUE REVENUE says Yehudi Gaffen, CEO of Gafcon Inc. 1 AECOM, Los Angeles, Calif. $9,880.5 $7,967.5 $4,118.1 $22,625.0 Mahoney notes that many owners that have been 2 BECHTEL, Reston, Va. $15,891.0 $1,037.0 $3,227.0 $20,624.0 hit hard by the coronavirus have furloughed and laid 3 THE TURNER CORP., New York, N.Y. $14,664.1 $- $130.5 $14,837.7 off their in-house design and construction resources. 4 JACOBS, Dallas, Texas $- $9,676.8 $3,061.0 $12,990.0 “As those markets re-emerge, they will likely need to 5 KIEWIT CORP., Omaha, Neb. $9,390.5 $791.3 $- $10,181.8 engage third-party professional services,” he says. 6 THE WHITING-TURNER CONTRACTING CO., $9,828.0 $- $- $9,828.0 7 MCDERMOTT INTERNATIONAL, Houston, Texas $8,433.0 $- $- $8,433.0 Dealing With the ‘New Abnormal’ 8 STO BUILDING GROUP INC., New York, N.Y.
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