Harnessing the potential of technology to improve the performance of major projects
The scale, ambition and complexity of today's engineering and construction projects are nothing short of breathtaking.
The industry is constantly widening its vision and raising its game. Buildings are getting taller, our search for natural resources is taking us deeper, bridges are spanning longer, and the pace of change is such that technology projects are virtually obsolete as soon as they're completed. Operating at the forefront of some of the world's greatest challenges, construction is becoming greener and more sustainable, while continuing to improve social conditions and tackle human and natural disasters.
Technology plays an integral part in helping the industry realize these goals by enabling enhanced design, planning and construction. When applied effectively, technology can significantly boost a sector that for many years failed to improve productivity. Yet, despite substantial investments in innovation, the construction industry is struggling to reap the full benefits of advanced data and analytics, drones, automation and robotics.
As companies strive to improve governance, risk management, project controls, and talent, the fundamentals of sound engineering, construction and project management processes remain the same. In this year's survey - the 10th edition - we continue to look at how to improve project delivery, but with the added perspective of a technology lens, to determine who's ahead of the game, who's behind the curve, and how all firms can harness the true potential of technology.
For the very first time, we've jointly surveyed both project owners and engineering and construction companies on a number of current issues to understand whether their views are aligned or whether there are marked differences. We also feature interviews with two leading industry professionals, both with experience in large, global projects, who give their views on the benefits - and the limitations - of technology in enhancing project performance.
Technology inevitably brings disruption in its wake, at a speed that is likely to increase exponentially in the coming years. Owners and engineering and construction firms are charged with building the next generation's infrastructure. The quicker they can embrace the exciting potential of technology, the greater will be their collective contribution to business and to society.
We would like to thank all survey participants who gave their valuable time and insights to our latest annual Global Construction Survey.
© 2018 KPMG, an Irish partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.