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Navigating the Uncertnty in 2024: Balancing Challenges with Opportunities
In the global construction sector, a multifaceted landscape awts us as we move into 2024. Challenges such as geopolitical instability, persistent inflation, acute skills and material shortages, coupled with tightening sustnability regulations are all contributing factors to increased construction costs worldwide.
In fact, last year saw an increase of 3.64 in construction costs globally, and forecasts predict that these costs will rise across our operating regions even more this coming year. The volatility associated with such cost fluctuations presents a significant challenge for the industry, but it's not without its silver linings. Over the past five years, global construction costs have escalated by 21, demonstrating that this tr is neither new nor isolated.
Alan Manuel, CEO of Currie Brown, emphasizes the need for strategic approaches to manage and mitigate these long-term trs. By embracing innovative working methodologies, prioritizing sustnability efforts, and leveraging digital transformation, our industry can unlock opportunities amidst uncertnty.
To assist you in navigating this complex terrn, we present a comprehensive guide highlighting tips on how to ensure projects are delivered within scope, on time, and on budget despite the challenges ahead. Furthermore, insights into regional construction markets across various countries offer a deeper understanding of local conditions.
Unlock your journey towards resilient project management by downloading our report today.
For those who prefer alternative language options, we also provide a German version accessible hereinsert link and a Chinese version avlable here insert link.
To stay ahead in this dynamic landscape, explore these resources to equip yourself with the knowledge you need for success.
This article is reproduced from: https://www.curriebrown.com/en/news-insights/insights/2024/global-construction-costs-report/
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Navigating Global Construction Cost Increases Strategic Approaches to Uncertainty Management Innovative Methods for Resilient Project Management Sustaining Projects Amidst Geopolitical Instability Leveraging Digital Transformation in Construction Regional Construction Market Insights 2024