Top 5 Productivity Stats Industrial Construction Can’t Ignore

Industrial construction is a slow-moving industry to truly adopt digital processes and transform into using more modern project management methods. This list comprises of the top 5 reasons agile project management is important as a methodology for productivity on projects. Industrial construction cannot ignore it if the industry wants to truly move forward with innovation.

1. Only 31% of organizations are likely to deliver projects on time
So what: This is a staggering statistic on productivity. Organizations are failing to complete even half of their projects on time which end up being costly.
2. Only 29% of organizations are likely to deliver projects on budget
So what: If you’re one of the 29% that can deliver on budget, congrats. But if you’re not, then how do you think you can compete with the ones that can deliver?
3. Only 33% of organizations deliver projects that are likely to meet original goals or business objectives
So what: If you can’t hit your original goals or objectives on a project, you will likely lose out on a bid next time or risk getting fired from that project all together.
4. 57% of projects fail due to breakdown in communication
So what: If you’re not communicating or collaborating on a project you run the risk of constant rework, delays and cost increases.
5. 39% of projects fail due to lack of planning, resources and activities
So what: Blindly beginning a project without the proper tools in place for processes and procedures is like walking off a cliff. You risk rework, lack of communication and incorrect information.

This information is applicable to all industries seeking productivity improvements but especially relevant to industrial construction. Agile project management methods were created to address all of these project fails. It’s meant to provide teams the ability to work together, communicate and efficiently complete projects on time, budget and according to goals.

O3 takes this approach with our modern, SaaS platform designed to support work packages or all types, scale across a project and support all stakeholders. It’s modern and agile with new releases every two weeks that incorporate our client feedback on what they’d like to see improved in the software. This is a massive benefit when working on complicated or specific projects that truly need technology to effectively manage.

Sources: 2017 KPMG Survey on Project Management

Source: team Gantt – “Seven Shocking Project Management Statistics and Lessons we should learn”