The construction industry took a significant hit as a result of the COVID-19 pandemic. Many projects slowed or completely stalled, and supply chain shortages further contributed to extended timelines. The last few years have posed difficult for construction firms, even as the pace of the pandemic slowed.
Following the pandemic, the industry is still struggling with ongoing shortages and extended lead times, as well as a volatile labor market and inflation. High prices, high employee demands, and even greater pressure from society to get things done have not made the return to normal easy.
While facing more operational challenges now than ever before, it is all the more imperative for firms to sweat the details and heavily analyze project risks upfront, so as to avoid unexpected problems arising in the process. Dealing with potential problems upfront or mitigating risk can significantly improve project timelines in today’s world.
Though there continues to be unforeseen issues that the industry cannot predict, there are some areas within our control that we must jump on in order to avoid any further complications. The pre-construction phase and planning process play a significant role in the overall success of a project. Calling on industry experts for their input and doing due diligence upfront can make a world difference.
