Fifty-nine percent of New England firms are planning to initiate a construction, renovation or a relocation project during next 18 months, according to a recent survey sponsored by Newton-based Diversified Project Management and conducted by Waltham-based integrated marketing firm The Mishra Group.

The survey of local real estate executives also found that the No. 1 problem faced by corporate real estate executives in successful completion of their projects was design, followed by construction challenges and information technology issues.

"What is encouraging in the survey is that so many companies are planning to initiate a construction, renovation or relocation project during the next 18 months," said Bob Keeley, president of Diversified Project Management. "This seems to be a good sign for the design and construction industry and may be an indicator that organizations are feeling more confident, while taking advantage of favorable construction pricing. It was also interesting to see how many firms planned to outsource their project management needs and may be indicative of the trend of organizations continuing to operate lean and bringing in specialized expertise only when needed."