Global Construction Survey 2016: Australian perspective

Global Construction Survey 2016: Australian perspective

To get real benefit from new innovations, engineering and construction companies and major project owners need a strong technology vision and must consider how they can better integrate technology into their processes and culture.

National Sector Leader, Real Estate & Construction

KPMG Australia

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Building a technology advantage

In the tenth edition of KPMG’s Global Construction Survey, for the first time, we have jointly surveyed both owners and engineering and construction companies. The survey focuses on how the industry is harnessing the potential of technology to improve the performance of major projects. It features the views of over 218 senior executives from both private and public organisations, whose annual capital expenditure ranges from a few million US dollars to well over five billion US dollars.

In this edition of the survey, we continue to focus on how companies can improve on their project delivery, but with the added perspective of a technology lens to determine who is ahead of the game.

Australian perspective

Twelve percent of the survey respondents were from Australia. The results demonstrate that Australian owners and contractors compare favourably with the world’s best in terms of adoption of technology and their project delivery processes.

Key insights

  • A sector ripe for disruption – With many survey participants believing risks, investment and backlog levels are on the increase and, with the continued downward pressure on margins, there is a case for disruptive technology to enhance productivity and standardisation of risk management practices.
  • Integrated, real time project reporting: myth or reality? – The results this year show there is a continued case for investment in ‘real-time’ project reporting. 72 percent of Australian participants without this capability are expecting to invest in the near team. This investment will further increase ability to use advanced data analytics for project related estimation and performance monitoring.
  • A futuristic industry is tantalisingly within reach – Australian respondents are leading the charge with adopting innovative technologies including drones, remote monitoring and BIM but could use robotics more compared to global counterparts.
  • Technology does not replace talent – Robust project management experience and skills are essential for project performance. Accordingly, investing in retention and core project management training is essential.
  • Where will growth come from? – Australian contractors see growth in health, education, roads and water whereas M&A is not on the radar.

Lessons learned

The lessons from this year’s survey: to get real benefit from new innovations construction companies and owners need a strong technology vision and must consider how they can better integrate technology into their processes and culture. This is entirely consistent with KPMG’s 2016 Global CEO Outlook strategic focus areas of innovation, disruption, technology and developing talent.

Global Construction Survey 2016

The scale, ambition and complexity of today’s engineering and construction projects are nothing short of breathtaking.

 
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Real Estate & Construction

Real Estate & Construction

As significant contributors to the Australian economy, the real estate and construction industries represent about 18 percent of GDP.

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