Did you know that construction is considered the largest industry in the world?
According to the McKinsey Global Institute it is, with about $10 trillion spent on construction-related goods and services each year. Construction spending accounts for 13% of the world’s GDP.
Ironically, the sector's annual productivity has only increased 1% over the past 20 years. McKinsey estimates $1.6 trillion of additional value could be created through the same level of productivity growth that other industries have witnessed.
Just as man has evolved over the millennium, construction must, too. The past decade has seen some adoption of construction technology, but the rate must grow.
Man had to embrace his inner agility to progress from the Paleolithic Era to the Space Age. Construction must fully embrace the opportunities afforded by today’s science and technology.
Success is not just about laying bricks and pouring concrete; it's about agility. The ability to adapt swiftly to unforeseen circumstances and seize unexpected chances can make or break a project.
When the pandemic hit, construction managers found themselves in a perfect storm. Labor shortages, materials cost increases and a sudden need to prioritize employee safety created a challenging triad. Enter the unsung heroes: The nimble companies that seamlessly embraced change.
At the heart of the success for many was the construction project management information system (PMIS). This sophisticated tool not only facilitated safe collaboration but also provided a platform for swift communication. With a single, integrated system in place, these agile entities mitigated risks and ensured the seamless delivery of projects. The key? A PMIS that allowed them to adjust reporting requirements on the fly, tracking conditions they hadn't even considered before.
The Agile Advantage
These agile companies showcased the transformative power of a well-implemented PMIS. The ability to pivot, adapt and innovate is the mark of true agility. As the construction industry evolves, so do its challenges. The agile construction project management approach isn't just a one-time solution; it's a philosophy that equips teams to face whatever the future holds.
Tailored for owners, program managers, general contractors and subcontractors, Kahua's best-in-class software is the key to unlocking the full potential of agility in construction. Navigate the unexpected with finesse.
The mass labor exodus, skillset gaps, cost increases, sustainability requirements and digitalization are necessitating a response from the industry. Join us on Feb. 13 as we collaborate with Deloitte and ENR (Engineering News Record) to present the webinar, Navigating Construction’s Evolution, that will highlight how to address these concerns.
Save your seat today!