Changing Business Models & Improving Productivity in the Built Environment (Panel)
The McKinsey Global Institute (MGI’s) Reinventing construction: A route to higher productivity report, released in February 2017, found that the construction industry has an intractable productivity problem.
It's been well reported that both the retail and manufacturing sectors have reinvented themselves, whereas the construction industry seems 'stuck in a time warp'. Global labor-productivity growth in construction has averaged just 1 percent a year over the past twenty years, compared to 2.8 percent for the total world economy and 3.6 percent in manufacturing.
It's almost cliche and as an industry we're better at talking about the problems than we are about the incredible successes we have. But where are we really?
This session will look at the changing business model of construction and what is being done to improve productivity in the sector. We'll look not just at the technology but this new era of adoption and thinking means for the way we design, procure, build, and operate our built assets.