Barry Woollam on Cost Escalation & Capital Works Feasibility | Connected The Podcast Ep. 3

"You can't build a 2030 project using 2020 assumptions." In the third episode of our 'State of the Nation' series, Emma Bedford, General Manager of Client Relations at Connected Workplaces, sits down with Barry Woollam from Genis Advisory. With over 20 years of experience as a quantity surveyor specializing in complex health and life sciences facilities, Barry breaks down the financial realities of today's construction market. For the last three years, the industry has been consumed by noise surrounding inflation, labor shortages, and supply chain volatility. This conversation cuts through that noise. Designed specifically for C-suite leaders, property directors, and capital planning executives, this episode provides a realistic look at how to structure robust business cases and share risk collaboratively. In this episode, we cover: Cost Escalation Realities: Why acute services building costs jumped from $6,000/sqm to over $12,500/sqm post-COVID, and how global instability is causing hyper-escalation spikes. Procurement Evolution: The critical shift away from adversarial, hard-dollar lump-sum contracts toward Early Contractor Involvement (ECI). Labor Market Capability: Why the industry isn't just facing a headcount issue, but a critical capability and fatigue challenge across competing sectors. AI & Automation: How Tier-1 contractors are actually using technology for forecasting, modular coordination, and safety—rather than just hype. Sustainability as BAU: The transition of ESG from a 10–15% upfront cost premium to a "business as usual" whole-of-life OpEx benefit. Protecting ROI: Why relying on outdated pre-COVID assumptions is the biggest threat to capital works feasibilities today. 🎙️ Timestamps: 00:00 - Opening 00:58 - Introduction & Meet Barry Woollam 02:20 - The Role of a Quantity Surveyor in Capital Works 03:41 - Tracking Construction Cost Escalation & 2027 Predictions 06:36 - Global Instability & Hyper-Escalation Spikes 07:43 - Moving Away From Adversarial Lump-Sum Contracts 09:36 - The Post-COVID Market Shift & Contractor Conservatism 12:14 - Labor Shortages: Headcount vs. Capability Fatigue 16:11 - The Reality of AI & Tech in Construction 19:18 - Costing Hyperscale Data Centers & Emerging Tech 21:51 - Bridging the Gap: Consultants, Contractors & ECI 27:34 - Sustainability: From Cost Premium to Business as Usual 30:42 - The Biggest Risk to ROI: Outdated Assumptions 32:21 - Top Three Questions Boards Must Ask Before Committing 34:34 - Optimism for Australia's Infrastructure Pipeline 36:13 - Closing Remarks About Connected Workplaces: We bring smarter thinking, technical expertise, and real-world experience together to simplify complexity and deliver with certainty. We specialize in high-performance fit-outs and mission-critical construction environments. 🌐 Explore our strategic insights: https://www.connectedworkplaces.com/ 💼 Follow Connected Workplaces on LinkedIn: https://linkedin.com/company/connected-wor... 🔔 Don't forget to Subscribe for new episodes detailing the strategic outlook of the industry.