The construction industry is ripe for disruption. Large projects across asset classes typically take 20 percent longer to finish than scheduled and are up to 80 percent over budget. Construction productivity has actually declined in some markets since the 1990s; financial returns for contractors are often relatively low—and volatile. While the construction sector has been slow to adopt process and technology. The growing demand for environmentally sensitive construction means traditional practices must change. In this report, McKinsey considers five ways the industry can transform itself over the next five years.
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