During social and economic disruptions such as the ongoing Covid-19 pandemic, companies turn inwards to find ways to revolutionize their systems for workplace resilience. Companies in the engineering and construction (E&C) sector that make use of this lull time to reinvent themselves will emerge stronger and go one-up on their competitive advantage. Â Rewind to the […]
You would never ask your personal trainer to create a workout plan based on the notes from your nutritionist. Why? Each profession is unique, and asking a professional to perform a task specific to a related profession is undesirable. The same argument holds for the construction sector too, especially when it comes to technology. Today’s […]
After being plagued by inefficiencies and complex managerial overheads for years, the construction industry is showing encouraging signs of tackling such challenges by adopting digital ways. It is expected that the market for digitization in the construction sector will be worth over $29 billion by 2027. One of the key areas in this sector where digital technology […]
Studies indicate that about 42% of companies underestimate the role of robust project management despite it being a precursor to the success of projects. The disregard for addressing the business’s challenge might hinder the enterprise’s growth consistency. After all, effective project management in construction can accrue various benefits, such as: Enhanced business growth Improved efficiency Better teamwork […]
Payroll and benefits administration is often one of the most challenging departments in any business. While a larger workforce represents a huge challenge in payroll management itself, the issue becomes complex when there is further diversification of wage codes or categorization of workforce billability. But it’s in the construction industry where the true scale of […]
Effective project management helps ensure that all the tasks in any project, irrespective is size and scale, progress smoothly. Project management makes project delivery speedier and helps create the circumstances in which better decisions are made. A study reveals that organizations lose out on at least 12% of their resources due to poor project management […]
The global construction industry is booming, with billions invested in new projects. Yet, it’s plagued by a critical problem: massive delays and stagnant productivity. A 2020 McKinsey report highlighted that while the sector accounts for 13% of global GDP, its productivity has grown by a mere 1% over the last two decades. For project managers, […]
What’s New in Project Management in Construction? Just as the construction industry is recovering from the pandemic’s aftermath, the increasing material costs, crushing deadlines, and labor shortages have started posing new challenges. According to ENR’s research, 100 construction management firms were at risk last year as they struggled to keep the project moving and stick to schedule […]
According to a recent study, 85% of project owners in the construction industry are digitizing their internal processes, and 70% are already instructing their contractors and sub-contractors to use digital flows, documentation, and collaboration practices. It is a huge step because the construction industry has not particularly been an early adopter of digital technology. The industry has, […]
Project Labor Agreements are the Law in Most Infrastructure Projects – What Does That Mean for You
While announcing a slew of measures to improve the economic outlook of the country, President Biden announced in February of 2022 that all federal projects over $35 million in value need to follow Project Labor Agreements (PLA). But even before this announcement for federal projects, the construction industry witnessed a massive push by the administration to execute […]
