COMIT community day summer 2018 - main slides

Editor's Notes

• #35: COMIT Initiative. Opportunity to improve The construction sector is one of the largest in the world economy, with about $10 trillion spent on construction-related goods and services every year. It 10% of the UK GDP However, the industry’s productivity has trailed that of other sectors for decades, and there is a $1.6 trillion opportunity to close the gap. Construction-related spending accounts for 13% of the world’s GDP Globally, construction sector labour-productivity growth averaged 1 percent a year over the past two decades, compared with 2.8 percent for the total world economy and 3.6 percent for manufacturing.
• #36: COMIT Initiative. Opportunity to improve The construction sector is one of the largest in the world economy, with about $10 trillion spent on construction-related goods and services every year. It 10% of the UK GDP However, the industry’s productivity has trailed that of other sectors for decades, and there is a $1.6 trillion opportunity to close the gap. Construction-related spending accounts for 13% of the world’s GDP Globally, construction sector labour-productivity growth averaged 1 percent a year over the past two decades, compared with 2.8 percent for the total world economy and 3.6 percent for manufacturing. COMIT Initiative. Opportunity to improve Construction Productivity Survey confirms many reasons for this poor performance. The industry is extensively regulated, very dependent on public-sector demand, and highly cyclical. Informality and sometimes corruption distort the market. Construction is highly fragmented. Contracts have mismatches in risk allocations and rewards, and often inexperienced owners and buyers find it hard to navigate an opaque marketplace. The result is poor project management and execution, insufficient skills, inadequate design processes, and underinvestment in skills development, R&D, and innovation. barriers to higher productivity and ways of overcoming them have been known for some time, but the industry has been in deadlock. Most individual players lack both the incentives and the scale to change the system. However, there are forces lowering the barriers for change: rising requirements and demand in terms of volume, cost, and quality; larger-scale players and more transparent markets, and disruptive new entrants; more readily available new technologies, materials, and processes; and the increasing cost of labour with partial restrictions on migrant workers. Construction-sector participants should rethink their operating approaches to avoid being caught out in what could be the world’s next great productivity story
• #37: COMIT Initiative. Opportunity to improve Construction Productivity Survey confirms many reasons for this poor performance. The industry is extensively regulated, very dependent on public-sector demand, and highly cyclical. Informality and sometimes corruption distort the market. Construction is highly fragmented. Contracts have mismatches in risk allocations and rewards, and often inexperienced owners and buyers find it hard to navigate an opaque marketplace. The result is poor project management and execution, insufficient skills, inadequate design processes, and underinvestment in skills development, R&D, and innovation. barriers to higher productivity and ways of overcoming them have been known for some time, but the industry has been in deadlock. Most individual players lack both the incentives and the scale to change the system. However, there are forces lowering the barriers for change: rising requirements and demand in terms of volume, cost, and quality; larger-scale players and more transparent markets, and disruptive new entrants; more readily available new technologies, materials, and processes; and the increasing cost of labour with partial restrictions on migrant workers. Construction-sector participants should rethink their operating approaches to avoid being caught out in what could be the world’s next great productivity story
• #38: COMIT Initiative. Opportunity to improve Construction Productivity Survey confirms many reasons for this poor performance. The industry is extensively regulated, very dependent on public-sector demand, and highly cyclical. Informality and sometimes corruption distort the market. Construction is highly fragmented. Contracts have mismatches in risk allocations and rewards, and often inexperienced owners and buyers find it hard to navigate an opaque marketplace. The result is poor project management and execution, insufficient skills, inadequate design processes, and underinvestment in skills development, R&D, and innovation. barriers to higher productivity and ways of overcoming them have been known for some time, but the industry has been in deadlock. Most individual players lack both the incentives and the scale to change the system. However, there are forces lowering the barriers for change: rising requirements and demand in terms of volume, cost, and quality; larger-scale players and more transparent markets, and disruptive new entrants; more readily available new technologies, materials, and processes; and the increasing cost of labour with partial restrictions on migrant workers. Construction-sector participants should rethink their operating approaches to avoid being caught out in what could be the world’s next great productivity story
• #40: COMIT Initiative. Opportunity to improve Construction Productivity Survey confirms many reasons for this poor performance. The industry is extensively regulated, very dependent on public-sector demand, and highly cyclical. Informality and sometimes corruption distort the market. Construction is highly fragmented. Contracts have mismatches in risk allocations and rewards, and often inexperienced owners and buyers find it hard to navigate an opaque marketplace. The result is poor project management and execution, insufficient skills, inadequate design processes, and underinvestment in skills development, R&D, and innovation. barriers to higher productivity and ways of overcoming them have been known for some time, but the industry has been in deadlock. Most individual players lack both the incentives and the scale to change the system. However, there are forces lowering the barriers for change: rising requirements and demand in terms of volume, cost, and quality; larger-scale players and more transparent markets, and disruptive new entrants; more readily available new technologies, materials, and processes; and the increasing cost of labour with partial restrictions on migrant workers. Construction-sector participants should rethink their operating approaches to avoid being caught out in what could be the world’s next great productivity story
• #41: Action in these areas can boost sector productivity by 50–60% 5–10x productivity boost possible for some parts of the industry by moving to a manufacturing-style production system