How to transform the construction industry’s most common disputes isn’t all in the hands of one decision maker. The white paper, “Shaping the Future of Construction: A Breakthrough in Mindset and Technology” from the World Economic Forum divides up the responsibility to three levels: company, sector (industry), and government. The following condenses portions of ways to spearhead transformation, split up by who’s accountable.
Company-Level Opportunities for Improvement (that are feasible for all)
Enhanced Material, Tech, and Automation
– Utilizing standardized, prefab materials
– Embracing automation in equipment, communication, and billing
– Paying consideration to post-construction functionality of buildings
Operational Process Improvement
– Early-developed, well-equipped project planning
– Equitable contracting models with a fair balance of risk across parties
– High value placed on safety
– Project metrics observed in detail to form lessons learned (time, cost, quality)
– Appropriate project management software rigorously monitoring subcontractor activity
Strategic/Organizational Model Focuses
– Strong business plan positioned around competitive marketplace
– Relationship/partnership management
– Proper insurance measures
– Growth strategy and sales pipeline plan in place
Workforce Attention
– Employee retention plan
– Training measures and solid investment in nurturing talent
– Proper incentives for performance
Sector-Level Opportunities
Collaboration
– Industry partnership in project standards (best-practice sharing, benchmarking)
– Increased data exchange, mutually accessible learning and education opportunities
Joint-Marketing
– Positive promotion of industry as beneficial career path
Government-Level Opportunities
Permitting Processes
– Organization in permitting requirements and filing standards
– Funding/support of trade workers and their development through government programs
Legal Considerations
– Transparency in construction laws and their implementation
– Anti-corruption standards observation
As you can take away, many factors are within companies’ control, and considerable advancements are definitely within reach.
Sources referenced:
http://www3.weforum.org/docs/WEF_Shaping_the_Future_of_Construction_full_report__.pdf