Only 4 out of every 10 UK construction projects deliver on time
November 27, 2016
In the latest survey on the UK Construction industry, it is reported that only 4 out of every 10 construction projects included in the survey came in on time.
It is easy to see why, at the outset of a project, everyone wants to get moving. The contract is signed and the clock is ticking. Proper project scheduling can often receive little more than the lip service required to satisfy the contract, but this can prove to be a costly oversight.
Research group Glenigan surveyed over a 1,000 key people on projects completed in 2015 and despite the limited number of projects being completed on time, they revealed a broadly positive picture for UK construction with most key indicators on the rise.
64% of projects came in on budget, beating 2014’s 56% figure and topping the previous survey high of 59% in 2011. Client satisfaction rose by 4 percentage points to 85% of clients now rating their overall satisfaction with the finished product as 8 out of 10 or higher.
However how would budgeting and client satisfaction scores benefit if we could stop so many projects from over-running?
Far from being a box-ticking exercise, project scheduling is vital to hitting deadlines and avoiding potential prolongation costs. It needs to start at the tender stage and be given the time and attention it deserves.
Progress needs to be regularly recorded, reviewed on site against the master approved construction schedule, and corrective action taken as soon as possible if required.
Our vision at Strata is not simply to deliver projects on time but to ensure that they contribute healthy profit margins for our clients.
https://www.glenigan.com/sites/default/files/UK_Industry_Performance_Report_2015_883.pdf
