The Engineering, Construction and Operations (EC&O) industry is booming and is projected to thrive well into the next decade. This growth presents some unprecedented challenges to Owners, Contractors and Operators; as size and complexity of projects increase so does the risk profile.
We outline the 5 key trends we see today in EC&O:
- Industry growth is cautiously optimistic – Post recession growth is forecast over the next 10 years with some sectors and regions dramatically outperforming others. Energy and Infrastructure are two key drivers of this growth.
- Cost increases are impacting margin – Resource demand has caused 25 straight months of increasing construction cost. A renewed emphasis is being placed on productivity, efficiency and effectiveness to maintain profit margins.
- Big is back but with Risk – Projects are increasing in size and scale. Managing complexity and risk is more important than ever for EC&O firms and Owners are demanding improved Project Controls Management Solutions be built directly into daily operations.
- Managing across the Construction Life Cycle – Management of information and activities from feasibility to design to build to operation is critical.
Technology is evolving – Advances are being made in Project Collaboration, BIM, Project Controls and Site Mobility. The speed of new technology advances are faster than adoption and that is about to change.
Navint assists EC&O clients with Enterprise Transformation initiatives, leveraging our exceptionally strong Program and Project Management capabilities to capitalize on the trends facing the industry today. With over 15 years of experience working in the EC&O field we are well positioned to help you as well.
Contact us to learn more about our EC&O Consulting services and see how we can help you capitalize on these trends.