ACIF Forecasts in Practice
What do the ACIF Forecasts mean in the context of architectural practice? John Held reflects briefly on how they are used at Russell and Yelland.
The ACA is a member of the Australian Construction Industry Forum, which regularly publishes industry forecasts for each state and for each sector of the industry. How useful are these forecasts? They don’t talk about specific jobs; they might not always be completely accurate; and they have to predict the decisions of both governments and the private sector, which is not an easy task.
Nonetheless the forecasts have a place in our practice, particularly when we undertake strategic planning with our staff. For such planning we need to look both to past performance and to where we need to go in the future. In health and education, for example, the BER program and the construction of large health facilities have distorted the market: what will happen in the next few years? The forecasts help us to plan ahead, the allow us to look at both the overall market and the sectors we traditionally work in, and look at the other sectors to determine where our energies are best concentrated.
John Held is President of ACA–SA and a director of Adelaide-based practice Russell & Yelland. He is an ACA representative on ACIF. This article first appeared in ACA Communique December 2014.