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The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

ASC 842 keeps the same two-model lease classification but requires most off-balance-sheet leases, regardless of classification type, to be recorded on the balance sheet. Going forward there will be a long-term asset offset by a current liability and a long-term liability.

Leases 177
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Lendlease recladding costs soar to £151m

Construction Enquirer

He said the liability primarily related to buildings developed by house builder Crosby, acquired by Lendlease in 2005. At the half-year, Lendlease put its liability at around £100m but by June 2023 this has jumped by an extra £51m. Lendlease still does not have documentation for a number of buildings.

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Why It’s Time for Contractors to Adopt Collaborative BIM

Viewpoint Construction Technology

Building Information Modeling (BIM) isn’t a new concept in construction. Accessible, version-controlled documents —BIM software solutions simplify data management and expand accessibility of documents to the entire team. It also reduces liability by enabling more accurate planning and management.

BIM 223
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Advancing Healthcare: Medical Office Buildings at the Forefront of Access and Safety

BD+C

The healthcare facilities landscape is shifting to resemble mixed-use and retail environments more than the traditional hospital model. This not only aids in a facility operator’s ability to demonstrate compliance concerning confidentiality and privacy protections but also significantly reduces liability.

Office 91
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The secret practice of ‘behind the scenes BIM Modelling’.

DebunkTheBIM

There is much more modelling going on in the construction space than is given credit for. Junior designers/documenters resolve building problems using digital 3D tools in secret and then output information in dumb-formats without principals knowing. Two reasons are given for this behaviour: Contractual framework and Liabilities.

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BIM is dead, please do not resuscitate!

DebunkTheBIM

The new generation of 20 somethings (and younger) in training or about to enter the AEC, are taught that documenting building is about creating drawings. Or even if such programs exist and students are let loose to model, render and animate to their heart content, once they enter the industry, they get quickly shown the ‘real’ ropes.

BIM 68
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USGBC Making Significant Change to LEED 2009

Green Building Law Update

The referenced energy standard and modeling requirements in LEED 2009 will not change; buildings falling under the proposed change can use the same methodologies and referenced standards, but will need to earn additional points in order to achieve certification. You can read the specific changes in the Rating system document.