ENR Names Otak To Top 100 Construction Management/Program Management for Fee List
Otak has been named a Top 100 Construction Management/Program Management for Fee company by the Engineering News-Record. Otak ranked 85th this year, a jump from last year when the company was unranked.
ENR ranks companies based on total 2019 revenue in $ millions for both domestic and international project/program management services performed as a professional service for a fee.
Otak has seen, as referenced in an article by ENR, that the use of professional services firms to plan and deliver projects is increasing. Complex planning, financing, and cost estimating is becoming the norm and necessitates more efficient and cost-effective delivery. The use of professional service firms is seen by owners as the best solution. Firms like Otak can provide additional expertise that may not be found among owners’ available resources.
The rise in use of professional service firms is reflected in this year’s ENR Top 100 Construction Management-for-Fee and Top 50 Program Management Firms list. Revenue for the CM-PM group in 2019 was up 2.7%, to $24.43 billion in 2019 from $23.78 billion in 2018. Domestic revenue from their work was stronger, rising 3.8%, to $18.88 billion. The gains were, however, not seen in foreign projects and programs that fell 0.6%, to $5.54 billion in 2019.
Looking ahead to next year, there is uncertainty due to the impacts from COVID-19, however, Otak’s work has remained steady as we have benefitted from our strong reputation and from being located in states that deemed construction essential. We anticipate being listed among the Top 100 again in 2020.