A recent KPMG survey of 150 engineering and construction industry executives globally found that just 36 percent of execs thought their organizations performed risk reviews of their projects efficiently. And 54 percent believed they had failed to identify issues that later on led to profit margin erosion.
Gregory Lyon, head of Bond Construction Services, Strategic Initiatives and Product Management at Travelers recently told the Engineering News-Record magazine.
In an industry with notoriously tight margins and the potential for catastrophic risk to person and property that can destroy quarterly earnings or even sink a firm, assessing a project to confirm it fits within an organization’s given risk profile is critical for profitability and sustainable growth.
McKinsey’s 2018 Global Infrastructure Initiative’s London 2018 Summit, “Major Project Delivery and Digital Transformation,” produced a an “Outcomes Report” in December 2018, which concluded (in pertinent part) that “[w]hile much attention is given to the cost overruns and schedule delays that occur in the delivery phase of major projects, a more strategic, outcomes-focused effort in the planning phase can pay dividends...
Contractors and owners can seize [the] opportunity [presented by digitizing and automating systems and processes] by doing the following: improv[ing] risk management through the digitization of processes. Project leadership could see near real-time progress across projects through automated tools and feeds, allowing earlier identification of issues and mitigation, even in pre-construction phases.”
Roebling is built to serve this need.
Our core AEC Labs team has worked together for over a decade, first in the New York City office of a large international law firm, and then in-house in the legal department of the world’s largest civil engineering company. Our contacts, expertise, and passion for our industry are unmatched. We can’t wait to work with you to transform the built environment.