Building in Change: Project Construction in Asset-Intensive Industries
Minimize the impact of change, improve visibility, and enhance collaboration.
Even with the best processes and technology in place, change is often an unavoidable part of the construction process. However, how your company responds to change can mean the difference between delays and cost overruns, and projects being completed on schedule and on budget.
A new report by The Economist Intelligence Unit, sponsored by Oracle, explores change in construction projects. Key findings of the report include:
- 91% of project owners see their relationship with contractors as important or extremely important to the process of change
- Owners often lack adequate skills to minimize the impact of change – 51% of respondents rated themselves as effective at delivering their projects to scope, budget and schedule when confronted with change. Only 43% rated themselves as effective at anticipating potential change.
- Collaborative relationships make costs more predictable, according to 67% of respondents
- In a departure from the traditional framework, partnerships now continue throughout a project's lifecycle.
To read the full report and learn best practices from other asset-intensive companies, click on the "Download Now" button.