The construction industry is ripe for disruption. Large projects across asset classes typically take 20 percent longer to finish than scheduled and are up to 80 percent over budget. Construction productivity has actually declined in some markets since the 1990s; financial returns for contractors are often relatively low—and volatile.
There are ways to fix this, but it won't be easy to break old habits. Many of the issues raised in this article were discussed at the recent Concrete 2029 roadmapping meeting.
To read the McKinsey article, click here.