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Low productivity has been a constant in the construction industry, raising costs and adding risk and waste across project life cycles. Better collaboration is essential to improving productivity in multi-disciplinary teams with shared risks and rewards across the value chain, and involves a willingness to think and act beyond the context of individual projects. The first step is breaking down the siloes that exist between stakeholder groups and building long-term relationships that allow identification of opportunities for improvement.
The situation can be further improved by greater adoption of value-based procurement and innovative industry technologies—such as virtual design and construction or building information modeling—as well as by minimizing the impact of government regulations on individual contractors.
BIM and productivity
April 23 – April 26
April 27 – April 29
The Economist Intelligence Unit explores the causes of the productivity gap in the global construction industry and the tools and strategies to overcome it.