How Do We Execute Our Construction Projects?

1483 WordsFeb 3, 20156 Pages
Let us first take a look through to some other major business and technology trends we are facing today that will impact how we execute our construction projects. It is no secret that we are living in a highly competitive environment, thanks to the global financial crisis there are fewer available projects with more contractors vying for them. Owners and governments increasingly demand that you deliver their complex projects faster and at a lower cost. You need to provide more accurate cost estimates and material quantities to ensure that you stay on budget and because project timelines are shrinking you have to manage projects with as few time and cost intensive RF eyes and change orders as possible. In addition owners and governments are increasingly savvy and expect you to have new qualifications before awarding the work. The construction industry is realigning in a fundamental way that is construction firms like yours are driving integrated practices in more effective production cycles by taking more control of the supply chain. The industry is under pressure to reduce waste both to protect the environment and to increase profitability. Over the past several years it has been documented that the construction industry produces 30% waste. That means 1 out of 3 dollars spent on project is wasted. When you consider construction is a 7 trillion dollar global industry that’s a tremendous amount of wasted money. There are several ways construction firms are trying to reduce
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