The construction industry is witnessing a surge in megaprojects, those exceeding $1 billion in value, particularly in the advanced manufacturing, life sciences, and advanced technology sectors. Driven by legislative and technological advancements, these projects bring unique challenges and require a heightened focus on planning to ensure success.
DPR Construction, a renowned construction firm, has released its latest Market Conditions Report, emphasizing the crucial need for proactive planning to address the increased risks inherent in megaprojects. Philip Bartkowski, DPR’s preconstruction corporate service leader, highlights the complexity and scale of these endeavors: “The complexity, pace, risk, and demand of megaprojects require a higher level of attention to planning best practices. What might seem like a small issue on a smaller job can quickly scale to business-impacting cost and schedule ramifications on a megaproject. Disciplined planning that recognizes the greater risks to all project partners can lower risks and set large projects on track for success.”
The report identifies key areas where owners of megaprojects must focus their planning efforts:
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Design and Procurement Integration:
A seamless integration of design and procurement is essential to ensure materials and key equipment are procured efficiently and effectively, while simultaneously meeting the specific requirements of the project. This integration is crucial to mitigate delays and budget overruns that can significantly impact the project’s success.*
Robust Virtual Design & Construction (VDC):
VDC plays a vital role in identifying and resolving potential issues early in the planning stages, before they arise on the construction site. This proactive approach allows for virtual simulations and analysis, ultimately contributing to a safer and higher-quality build. Rework on a large-scale project can be extremely costly, so VDC helps minimize these risks and maximize efficiency.*
Financial Risk Management:
Megaprojects demand a strong financial foundation. Careful planning and alignment on cash flow expectations are paramount to ensure all project partners have the necessary resources to keep the project moving forward at the intended pace.*
Building the Right Team:
Megaprojects require dedicated and experienced teams, often of substantial size. Identifying the right leaders who can effectively represent the owner’s interests, align with the design team, and ensure the project’s smooth progress is crucial for successful outcomes.DPR’s report also addresses emerging supply chain pressures and provides valuable insights for owners to navigate these challenges. The company emphasizes its commitment to delivering predictable outcomes through its innovative approach that combines virtual design & construction, prefabrication, a team of self-performing crafts, and data-driven learning and improvement. DPR’s continued dedication to excellence is evident in its consistent ranking among the top building contractors and its workforce of approximately 11,000 professionals across its global network.
