Posted on 4/28/2017 12:14 PM By Allison Huffman
High risk, low margin. This all too familiar description of the construction industry is at the heart of contractors’ laser focus on bottom line profitability and overcoming the variables that can (and often do) go awry.
The proof of that challenge is in the numbers. According to KPMG’s “Climbing the Curve, 2015 Global Construction Project Owner’s Survey,” just a quarter of construction projects in the last three years came within 10 percent of their original deadlines. And Turner and Townsend’s 2016 International Construction Market Survey found that the average global construction project margin fell from an already low 6.3 percent in 2015 to 6.1 percent.
No matter the size of the project or the timeline, there has always been a harsh reality: Expect the unexpected. But what if you could remove more of the surprises and reduce risk—all with increased profits?