|KPMG’s Global Construction Survey highlights key industry issues|
The ninth edition of KPMG’ Global Construction Survey has just been released. The 2015 Global Construction Project Owner’s Survey--Climbing the maturity curve is based on face-to-face interviews with 109 senior leaders whose organizations are involved in capital construction projects around the globe.
In this year’s Global Construction Survey, we focus on the challenges facing owners as they seek to balance the power that comes from controlling their budgets, the responsibility they have towards their boards and CEOs, and the commercial and reputational costs of execution.
The most important points gleaned from the survey are:
- Planning and prioritizing appear to be rigorous
- Talent shortage remains a problem
- Owners express confidence in their project controls to better manage risk and governance
- Project management information systems (PMIS) are not yet ubiquitous
- Owners continue to experience project failures
- There is a mixed approach to contingency planning
- The push towards contractor collaboration may need more impetus
- Contracts continue to emphasize the divide between contractors and owners
The results of the survey reflect the excellent progress that owners have made in project planning, risk management, governance, and execution. But the interviews also highlight a few areas were improvements are warranted. Specifically, owners are encouraged to consider new approaches to talent management, better integrate information systems, develop more realistic targets, as well as contingency plans, and build a more extended team. Focusing on these issues should help improve results.