“Today’s projects are ever more complex and larger in scale. Our analysis shows that large projects across asset classes typically take 20 percent longer to finish than scheduled and are up to 80 percent over budget. There are deep issues that can only be overcome with new ways of thinking and working.”
-Mukund Sridhar, partner, McKinsey & Company, 2016 Construction Technology Summit
Sridhar, as well as other industry analysts, cites studies reported by the Boston Consulting Group that show digital technologies have reduced cost and schedule overruns by 10 to 15 percent or more, as the level of project complexity rises. Where do these efficiency gains come from? Here’s a quick list of some of the most often identified technology-driven efficiencies.
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