Expanding budgets are commonplace in the construction industry, with as many as 9 out of 10 projects experiencing cost overrun.
Often the root cause of cost overruns can indicate systemic issues, that need to be rectified to prevent recurrence.
I have seen first hand errors made in the Design process, Construction errors requiring rework and even mistakes made in fabrication.
These risks can be mitigated by creating a culture of collaboration and traceability among your project team. Through successful implementation of digital technology your teams can be continuously connected, communication is accessible and clear, and construction professionals can more accurately capture real-time information.
When systemic changes are successfully implemented, the whole team will be empowered to identify potential cost overruns and mediate them early in the process.
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