As a construction technology veteran with over twenty years of experience, whenever I ask construction businesses how they manage cost, their typical response is: “We use spreadsheets.”
In fact, the KPMG 2015 Global Construction Project Owners survey states that “50% of construction companies have not yet introduced an integrated Project Management Information System (PMIS )”*. Old-school spreadsheets still prevail, and the construction industry still has a long way to go in adopting digital project management solutions.
The One Belt One Road (OBOR) initiative in China is an estimated $5 trillion infrastructure program spanning across Asia, the Middle East, Europe, and Africa.
Almost 70 countries and international organizations have signed up for the mega-infrastructure project, focused mainly on transport and energy including: roads, railways, bridges, ports, power plants and gas pipelines.
OBOR has created vast opportunities for construction companies focusing on infrastructure projects. With so many OBOR projects routinely launching, the question looms: how can companies best structure their project management and obtain finances to begin these projects?
Aconex is privileged to work with some of the most innovative owners, developers, contractors and EPCs in the world.
We launched the Aconex Connect Awards program in 2016 to recognize these forward-looking organizations for their industry best practices and accomplishments.
The 2017 Aconex Connect Awards honor 30 customers worldwide for innovation in delivering significant construction and infrastructure projects efficiently and successfully. Customers were nominated for the Aconex Connect Awards in three categories: Hero Award, Project Award, and Enterprise Award.
Selected global honorees include: Balfour Beatty, China State Construction, John Holland, Louis Berger/Egis Rail JV, NGE, Parsons, Rio Tinto, Riyadh Metro, and VINCI Construction Grands Projets.
Thinking about keeping your infrastructure program on track? The following scenarios might sound familiar – and trigger some anxiety:
- Your program just gained approval and funding, and the clock is ticking. You need to ramp up your program quickly, which means bidding and awarding contracts, getting the site ready, and coordinating the many people, processes, and systems, all in a matter of months.
Budget and schedule overruns have plagued infrastructure programs for decades.
McKinsey Capital Projects reports that distressed programs often lack adequate controls. These faltering programs do not have robust risk-management protocols – nor do they provide comprehensive reporting on budgets and timelines – ultimately hindering their ability to manage program delivery and control cost overruns.