The path towards digital transformation—while no means an easy journey—is critical to the success of the E&C industry.
Digital transformation will garner immense value and productivity gains, including: reduced cost overruns, improved quality and safety, better asset information for operations and maintenance, and on-time delivery.
Digital transformation will fundamentally change the game in the E&C industry, according to The Boston Consulting Group.
Last week we discussed how Aconex formed the Global Industry Council (GIC) to motivate industry laggards to boost their game. This week we’ll highlight how your organization can start to digitally transform.
The global engineering and construction (E&C) industry is overflowing with revenue potential. In fact, E&C is charted to become a $17.5 trillion business by the year 2030.
Alternative delivery methods are on the rise for large infrastructure megaprojects because they’ve proven effective in moving schedules forward and spreading risk among multiple entities.
In Canada, a standard approach to delivering public-private partnerships has led to some of the most predictably successful projects in the world. According to a 2013 report by the Conference Board of Canada, 35 out of 42 projects reviewed by the board were completed on time or early and 40 out of 42 projects, or 95 percent, were no more than six months late.
Congratulations! Your multimillion-dollar infrastructure project is about to break ground. You’ve sold the vision to shareholders and stakeholders, not to mention your family and friends. Although budgets were tight, you were able to take an innovative approach to financing by putting together a private-public partnership. Since then, you’ve been forging new paths in cooperation and collaboration between multiple entities.
Now, the fun begins.
One of the topics that comes up when I meet with customers at the beginning of each year is what our construction industry will look like in 2016.
We’ve all read reports saying that our industry is not only back on track for growth but also poised for rapid expansion. We are asking each other: “Does this ring true for you?”
Consider this post a reality check. I’ll distill the reports from our customers who are delivering projects around the world and compare their insights with the views and forecasts of experts. While there’s clearly a lot to celebrate, it pays to sound a note of caution.