Joint Construction Projects - Conclusion
Over the past six weeks we’ve published a series of articles on joint construction projects as the building industry here in the UK faces a future in which large infrastructure projects will require a level of collaboration in order to be accomplished. According to the World Bank, the average project size globally in 2014 came in at more than $400 million, a mind blowing sum, and the type of project that is just too large for a single company to undertaken. We’ve seen an increase in recent years in the number of joint ventures and public-private partnership (PPP) projects – with the collaborative working relationships often formed by the need to secure the necessary talent, share the risks and innovate with confidence. So far we’ve covered the following aspects of joint construction and the challenges involved:
· The importance of collaboration in the future
· Sharing ownership and control
· Sharing processes and accountability
· Ensuring BIM Level 2 compliance
· Guaranteeing access and security of data
· Preparing for project handover
We’ve given you the basic information you’ll need as a small to medium construction company owner to take part in joint projects in the future. With the global economy still struggling to recover from the crash of 2008, large infrastructure projects will require the collaboration of two or more partners. We’re also in quite a unique position here in the UK with the level of uncertainty surrounding the future when Britain leaves the European Union – we’re pretty much travelling in uncharted waters when it comes to business. The usual macro-level uncertainties like global growth, oil prices and regional stability are still a factor for us but nobody seems to have a clear idea of what the future will bring post-Brexit.
This means that, as an industry, we are facing a future in which we will need to be more flexible and pivot quickly. Any building companies that face risks head on will improve their chances of surviving whatever the future holds, in fact, companies with that ability are likely to thrive. Companies that need to pivot in tandem (as collaborators on joint projects) will need appropriate levels of control in order to achieve success on their joint project.
We’ve already pointed out the importance of sharing access and security of the data involved in these large project and how cloud collaboration platforms hold the key to the levels of manoeuvrability and scalability. A cloud collaboration platform can eliminate any power struggles, leaving everybody involved to concentrate on the important aspects of the project being undertaken. Cloud collaboration platforms will enable each partner involved in the project with everything they need, including access to promising and innovative new technologies and new tools. The information will always be available, 24/7 and can be accessed from anywhere, across a number of devices.
Building flexibility into the model will leave all partners involved with more options which is an effective method of risk management with the following advantages:
· Rapid project set up and permanent, secure storage of all project data in the cloud
· All members of the project team will be connected on a single, project-wide collaboration platform, minimising both risks and confusion
· A reduction in the requirement for several document controllers – this can be overseen by one person
· Project wide reporting tools that will enable project holders to be kept up to date at all times, delivering an extra level of trust and confidence.