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New research suggests UK taxpayers could foot a £19 billion bill because of outdated construction technology

New research has unveiled that
almost half (44.3%) of businesses in the construction industry have limited or
no insight into company or project performance.

The impact of this is
significant, as analysis
from Mace, a global construction consultancy, found almost 80% of
large construction projects experience cost or program overruns and that if
project delivery does not improve, the UK taxpayer could left to pick up a tab
of around £19 billion in 10 years’ time.

The research conducted by
Bentley Systems, the design, construction, and infrastructure software
provider, of more than 720 construction professionals across the world also
found less than half (43.5%) of workers said they have no digital capabilities
for collaboration or that their information is either paper-based or siloed.

With Interserve, one of the
largest government contractors in the UK, entering administration recently and
the collapse of Carillion in 2018 triggering the largest ever trading liquidation
in the UK, the construction industry cannot afford to ignore new technology any
longer.

You can download the full
report as well as a write up from Mark Coates, Industry Director for Project
Delivery at Bentley, here:
https://spaces.hightail.com/receive/c95iRiUHeo

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