The UK construction industry is predicted to be worth £476.6 billion by 2027, and the global industry is to grow to $4.2 trillion (a few trillion pounds) over the next 15 years.
However, there are some fundamental issues that we think give the industry a bad reputation. 91.5% of projects go over schedule, budget, or both. And less than 1% of projects completed on time completely meet the expectations of the project.
Something had to change, and there are a few ways the construction industry is saving money (and time) without risking quality.
Read on to find out more.
Fixing Supply Chain Issues and Choosing Quality Providers
The construction industry has massive supply chain issues.
The industry is almost crippled by supply chain delays and a lack of quality providers. Or, should we say, a lack of initiative to choose quality providers from timber merchants to steel? It can and does have a knock-on effect on the budget and timescale of projects.
Some construction companies have decided to use technology for supply chain management, which helps track and manage construction materials. Blockchain technology is also becoming popular.
These allow them to know what is available and when it will be delivered to address any issues. Still, we can’t deny that technology has been in supply chains for years and the issues are still there. It’s the developing technology that could make a difference.
Sustainable Building Practices
Sustainability is a massive topic in construction and some people think it’s saving time.
As a result, many construction companies are starting to adopt green building techniques and materials, which would often reduce operational and maintenance expenditures. For example, if the construction is performed using recycled supplies or energy-saving systems, the potential need for expensive maintenance or upgrades well into the future reduces.
These energy-efficient products and features reduce the energy expenses for the operation of the building. For construction companies, suggesting these sustainable design features to their clients would be beneficial also – more of the general population is talking about sustainability.
Investing in What Matters
This one might sound obvious, but investing in what matters is making a difference. And we’ll go back to technology for this one.
As an illustration, drones are now used instead of inspecting progress on the site so as to conduct site surveys, which eliminates manual inspection and mistakes. It’s so much more technically accurate and efficient.
There’s also 3D modelling software allowing teams to visualise the project fully before breaking ground, minimising rework and material waste.
More than that, simply investing in skilled labourers and not the cheap ones is making a difference. Trained employees (and not someone who’s just got their CSCS card) are less prone to errors, producing more high-quality and efficient finishes.
Big firms also set up requisite training programs that provide employees with modern strategies and safety measures, reducing the costs incurred due to mistakes in the workplace and increasing efficiency.
If you know anything about the construction industry, you’ll know something needs to change. Projects have to become more efficient in both time and resource use, and more than anything, better quality in the end result.
