5
June
by Jeffrey C Kadlowec, Registered Architect Greater project complexity and increasing client demands are leading to more project failures due to higher costs, labor shortages, and a lack of proper management in an industry known for poor performance. Megaprojects provide significant impact to economic development yet 98% of these project result in time and cost overruns with 30% average cost increase of 80% original value and 77% at least 40% behind schedule [Gartoumi 2024]. Success is dependent upon the best utilization of materials, minimizing waste, creating value, and meeting quality standards while reducing costs, assuring timely delivery and achieving client.
