With 85 percent of owners reporting over-budget construction projects, study sheds light on ways to avoid common industry shortcomings
NEW YORK – August 24, 2016 – A new study entitled “Optimizing the Owner Organization: The Impact of Policies and Practices on Performance” has recently been published by Dodge Data & Analytics as part of its SmartMarket Brief series. Working in partnership with e-Builder, Inc., a pioneer in fully integrated, cloud-based construction program management software, Dodge surveyed executives responsible for construction at over 170 commercial and institutional owners.
The survey determined the policies and practices executives deploy in their internal capital project organizations, and how they correlate to the most successful cost, schedule and quality performance. The goal of the newly published report is to provide a useful guide for all owners to improve construction project performance for the entire industry. The study findings revealed several widespread performance issues among building owners, including:
The study shows that inadequate project management, staff management and internal competencies are common and consistent problems among the owners that most frequently report schedule, budget and stakeholder engagement issues.
“These findings confirm the issues we’ve seen emerge in other studies,” says Stephen A. Jones, executive director of industry insights at Dodge Data & Analytics. “The construction industry has suffered chronically from challenges on core issues like schedule and budget. We believe these findings are critical to demonstrating ways in which owner organizations can effectively address these problems.”
By ranking owners according to their level of performance, the analysis flags a group of top-tier performers – those that complete 25 percent or more of their projects ahead of schedule and 50 percent or more of their projects under budget – and then examines what they do differently that might be helping them excel.The results are divided into two main areas: practices that directly impact people and policy, and those that involve improved processes and technology. The findings make a compelling case that both areas need to be tackled to improve project performance.
“The construction industry often seems like an untamable beast to owners, who may be aware that they are not operating as efficiently as possible but are not sure how to identify areas for improvement,” said Chris Bell, vice president & program management evangelist, e-Builder. “With this first-of-its-kind study, we have been able to pinpoint best practices applicable to all owners and hope this contributes to greater efficiency across the entire industry.”
Owners will have a chance to hear directly from the study’s executers on September 29th, during e-Builder Elevate in Fort Lauderdale, Florida, where Jones will discuss the findings and share additional insights. To download the full study “Optimizing the Owner Organization: The Impact of Policies and Practices on Performance SmartMarket Brief,” click here.
e-Builder is the leading provider of integrated, cloud-based construction program management software for top facility owners and the companies that act on their behalf. The company’s flagship product, e-Builder Enterprise, improves capital project execution, resulting in increased productivity and quality, reduced cost, and faster project delivery. Since 1995, e-Builder’s technology leadership and construction industry focus has provided thousands of global companies, government agencies, and healthcare and educational institutions managing billions of dollars in capital programs with solutions to improve the plan, build, and operate lifecycle. The company is privately held and headquartered in Plantation, Florida. For more information, visit www.e-Builder.net.
Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting & analytics services and workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, seize growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry.
As of April 15th, Dodge Data & Analytics and The Blue Book -- the largest, most active network in the U.S. commercial construction industry -- combined their businesses in a merger. The Blue Book Network delivers three unparalleled databases of companies, projects, and people.
Dodge and The Blue Book offer 10+ billion data elements and 14+ million project and document searches. Together, they provide a unified approach for new business generation, business planning, research, and marketing services users can leverage to find the best partners to complete projects and to engage with customers and prospects to promote projects, products, and services. To learn more, visit: construction.com and thebluebook.com.
Eric Becker | 104 West Partners | firstname.lastname@example.org
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