At long last, the recovery has reached the construction industry, and as contractors race to capitalise on the rises in demand, it is important to reflect on the business lessons learnt during the downturn.
Having worked with many of the major contractors throughout the challenging market of recent years, here we offer some observations on the key insights that will bolster performance and resilience for construction companies going forward – the ‘Building blocks for growth’:
This is a cyclical sector – with more focus on reading the economic conditions and pipeline, could contractors have predicted and responded to the downturn more effectively? Did they have the right controls, people, data and processes in place to manage as well as could be expected?
Coming out of the recession will pose its own challenges too, particularly around managing supply chain risk and as companies stretch to deliver order books won at competitive rates in the context of rising prices.
As always, we would be very interested to hear your views. Feel free to share your feedback and reflections with your usual Deloitte contact or contact us at firstname.lastname@example.org
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