IFS Reveals Construction Project Performance Hampered by Lack of Standardized Processes

  • Posted on

New research from IFS reveals productivity issues not only impact the bottom line, but hold construction and engineering businesses back from true digital transformation. The study, surveying 825 global construction and engineering leaders, shows almost half (41%) of all construction and engineering projects overrun on both budgets and target completion dates. With most (54%) projects also failing to meet anticipated margins. Too many non-integrated business solutions When asked how many software systems they use to manage their business and projects, respondents on average use nine separate software systems, hinting that unnecessarily complicated tech stacks are a critical fault in project … Read more

Filed under: eNews, Industry NewsTagged with: , , ,

Improving Project Efficiency in the New Year

  • Posted on

Increase productivity, lower costs + reduce waste High inflation and labor shortages is a major challenge for many industries, and no more so than in the construction & engineering sector, where productivity has historically always been low. Should you increase revenue? Difficult, especially in a competitive bidding environment. So, can you reduce costs? Kenny Ingram, vice president of construction and engineering, IFS, argues that C&E firms can improve project efficiency by increasing productivity, lowering costs and reducing waste. And it’s not all just about tackling labor issues – that’s just one interrelated issue, as he explains. The construction industry has … Read more

Filed under: Economic News, eNewsTagged with: , , , ,

Bridging Generation Gap in Construction Workforces

  • Posted on

How next-gen tech unites old, new generations of workers The construction industry is on the road to a major labor crisis. ABC figures show the U.S. construction workforce shortage topped half a million going into 2023. The sudden rise in labor-intensive infrastructure megaprojects means there is now a heightened demand for workers. But older, highly experienced workers leaving the industry, and a lack of younger skilled workers entering the industry, is creating a deep and growing imbalance in construction workforces. Kenny Ingram, vice president of construction and engineering, IFS, explains how construction businesses can remain competitive in the job market, … Read more

Filed under: eNews, Industry NewsTagged with: , , , ,