A recent survey of 260 Australian construction companies found that 62% believed they could increase their profitability by introducing new technology. The same proportion of companies believed that they could become more efficient if they communicated better across their business including sub-contractors and worked more closely with them to ensure best practice.
A recent survey of 260 Australian construction companies highlighted that, other than COVID19, the challenges they face have changed very little in the last few years.
- More than two-thirds of companies still rely on paper or spreadsheet based records, even though they recognise the potential to reduce costs significantly with better data capture.
- Rework and project overruns still represent the major impediments to productivity, taking up 20% of productive time.
- Improving communication both internally and with sub-contractors also presents a significant opportunity to improve efficiency.
As businesses around the world start to plan for the economy to open for business, post Covid 19, it is clear that some things will be changed for ever. A recent article in the New York Times noted that executives at New York’s three largest commercial tenants, Barclays, JP Morgan Chase and Morgan Stanley, have decided that it is highly unlikely that all their workers will ever return to their buildings. So they would no longer need to be in the office full time and can instead work from home most of the week.
Many businesses around the World have been forced to change their processes as they implement steps to reduce the chance of infection with Covid19.
At IPM the travel ban forced our Technical Team to cancel upcoming consulting commitments in New Zealand and as Australian States shut down their borders, the same was true for Darwin in the Northern Territory.