Global Construction Outlook 2024
Improving outcomes/
summing up
So, while it remains challenging, opportunities remain for construction.
Understanding the local landscape is vital in navigating the changing environment.
We recommend the following to maximise the potential of projects:
Undertaking regular cost checks and practising value management
In light of market fluctuations, it is essential to regularly review budgets to ensure they accurately reflect the current circumstances.
Effective value management remains crucial for optimising available resources and adapting to market developments, such as technological advancements or evolving end-user requirements.
Understanding the local market and project risk profile
Mitigating a project's risks can enhance its attractiveness to the supply chain. Still, it is crucial to ensure that the allocation of risks is fair to prevent the application of additional premiums.
Even though there are fewer supply chain issues, such as extended delivery times, it is advisable to proactively engage with the supply chain and contemplate advanced ordering. This approach helps secure resources and enhance programme certainty.
Utilising digital tools, data and AI to enhance decision-making
From employing generative design to minimise wastage, implementing robotics to enhance efficiency and safety on site, to leveraging data analytics for improved decision-making and learning from past projects — substantial opportunities are gaining momentum and improving outcomes.
Summing up
The construction industry grapples with persistent uncertainty, ranging from the repercussions of global economic conditions to the pursuit of sustainability goals. Challenges also arise in the areas of skills, labour and productivity. Investment and the adoption of new technologies are critical, as well as ensuring the best use of resources.
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Research team contacts
James Garner
SENIOR DIRECTOR, GLOBAL HEAD OF DATA AND INTELLIGENCE
Nicola Sharkey
PROJECT DIRECTOR, HEAD OF INTELLIGENCE, UK
Ned Chehalfi
RESEARCH MANAGER, INTELLIGENCE
Sam West
RESEARCH MANAGER, INTELLIGENCE
Edna Benavides
ASSOCIATE DIRECTOR, INTELLIGENCE MANAGER FOR EUROPE
Jayashree Srinivasaragavan
COST MANAGER, INDIA
Res Orgut
ASSOCIATE DIRECTOR, USA
Sherif Sweillam
DIRECTOR, HEAD OF BUSINESS OPERATIONS, EGYPT
Research team contacts
Nicola Sharkey
PROJECT DIRECTOR, HEAD OF INTELLIGENCE, UK
James Garner
SENIOR DIRECTOR, GLOBAL HEAD OF DATA AND INTELLIGENCE
Ned Chehalfi
RESEARCH MANAGER, INTELLIGENCE
Sam West
RESEARCH MANAGER, INTELLIGENCE
Edna Benavides
ASSOCIATE DIRECTOR, INTELLIGENCE MANAGER FOR EUROPE
Jayashree Srinivasaragavan
COST MANAGER, INDIA
Res Orgut
ASSOCIATE DIRECTOR, USA
Sherif Sweillam
DIRECTOR, HEAD OF BUSINESS OPERATIONS, EGYPT
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