Hot Topics Flashcards
What is the building safety act 2022?
Published 25th July 2022 - into effect from 2024 - Provides residents and homeowners more rights, powers and protection so homes across the country are safer
- Applies to all buildings, however are more stringent for high risk buildings
What are the key areas of the building safety act 2022?
- The safety and standards of all buildings
- Assuring the safety of higher-risk buildings, both in construction and occupation
- Improving the competence of the people responsible for overseeing, managing and delivering works to higher-risk buildings
- Ensuring clearer standards and guidance
- Putting residents at the heart of a new system of building safety
- Applies to new or existing buildings over 18m high or 7 storeys
What are the pros and cons of hybrid working?
Pros
- Happy & engaged employees
- Improved company culture
- More efficient workplaces
- Lower operational costs
- Improved work/life balance
- Greater flexibility
Cons
- Harder to collaborate with remote employees
- Not suitable for all industries
- Difficulty keeping up with hybrid schedules
What is the impact of inflation?
- Increase in price of materials, plant hire, fees
- Work becomes more expensive
- Contractors may have to reduce profit margin - Increase in financing costs may impact developers/clients from doing works
- Reducing amount of work available
What is the impact of World Effects (Ukraine) on construction?
- Impact on price of materials
- Russia is a key suppliers of steel, iron, wood and copper
- Sanctions are having an impact on price of energy
What are the effects of Brexit on labour market/construction?
- Skills shortage - UK relies on a large amount of foreign labour
- Construction materials shortage - more expensive
- Timber
- Copper
- Concrete
- Cement
What are the impact of rising fuel prices?
- Cost of producing materials
- Cost of storing material/company overheads
- Cost of delivering materials
What is the effect of a potential recession on construction?
- Customers putting works on hold
- Contractors going into liquidation etc
- Contractors/firms start to lay off employees
- Contractors reducing profit margin to secure works
What is the impact of the cost of living crisis on the construction industry?
- Rising cost of materials
- Bigger demand for more eco-friendly/sustainable homes
- Target for Net Zero 2050
RICS Annual review 2021–2022
Key report takeaways:
It has been a good year for standards adoption with a total of 71 adoptions achieved globally. Adoptions range from major projects (ICMS) to strong government engagement that facilitates the recognition of RICS members. Our work continued to address key themes, supporting building safety, trust in valuations and a sustainable built environment.
We continue to research, design and deliver lifelong learning and development that provides diverse and accessible pathways into the profession. In November 2021, the Standards and Regulation Board (SRB) formally established the Qualifications and Assessments Committee (QAC), responsible for the delivery of assessments, direct-entry routes, accreditation of degrees, and consistent assessment standards.
RICS is championing sustainable practices across the built and natural environment and empowering professionals to better measure environmental impacts and embed sustainability considerations into their work. We launched our inaugural Sustainability Report. This was compiled from over 4,000 member responses to specific sustainability-related questions.
In the last financial year, we have also established The Member Engagement, Experience and Value (MEEV) working group as a member–staff partnership initiative that will be crucial in rebuilding the kind of RICS that our stakeholders demand.In total, we rolled out 119 events, engaging with 11,640 members.
