With the curve of new coronavirus cases flattening in many nations, we are seeing a global ease of social restrictions brought on by the COVID-19 pandemic. Along with many constraints being lifted, construction projects are being restarted. Be it physically on the jobsite or remotely from a home office, everybody needs to adhere to these new requirements as we adjust to a new normal, especially those of us in the construction industry.
This new normal will see workers stepping foot on the jobsite in much fewer numbers than ever before. This modified version of normalcy will have varying impacts among companies and clients. Various market sectors and segments have seen differing impacts and as a result, construction teams must shift to different kinds of projects, new clients, and even new sectors. Furthermore, alternative business models are on the rise as supply chains, investments, and delivery methods evolve. Resilience and recovery should go hand in hand as, across the industry, technologies or strategies are implemented to allow people to support each other as the way we work changes during these tough times.
Despite what some may suggest, COVID-19’s impacts in construction will extend beyond today and tomorrow’s project restarts. But what does that entail for construction firms and the industry’s recovery? On June 16, 9 am PT / 12 pm ET / 5 pm BST, join industry thought leaders from Autodesk and FMI in a webinar, “Preparing for Tomorrow: The Post COVID-19 Recovery Outlook.”
A Multifaceted Approach to Construction Recovery
According to some reports, the construction industry’s recovery might only start to commence in a year from now. Even if construction begins to see the light at the end of the tunnel in late 2021, there are still pressing problems that linger and need to be addressed, such as the loss of even more workers and project changes to the public sector. While we addressed concerns such as innovation, supply chain impacts, and project restart plans in our May webinar, concrete plans detailing exact methods and timelines should be put in place.
For construction, there is no single path to recovery. In this upcoming webinar, we’ll present you with the most likely trajectories for the global construction industry. Panelists will identify the markets and segments that will lead or lag in the coming years. Furthermore, with research from past recessions and current economic benchmarks, panelists highlight strategic lessons learned and mistakes to avoid in these uncertain times. By learning from both the successes and mistakes from past crises, construction organizations can adapt their approach to navigate the uncertainty.
What you can expect:
- Understand construction sector impact: Since we will be living in a reinvented environment, we should seek to “re-adapt” to it, and in doing so, learn the cause and effect of the reason behind construction recovery.
- Prepare for resiliency and recovery: We shouldn’t just plan in months or years, but in decades and further. The best method for damage mitigation is to prepare for it, which is why panelists will discuss how the resiliency of your business is integral to surviving the pandemic and the waves long left in its wake.
- Plan for client expectations: It’s likely that clients will have changing demands, or even have multiple demands as projects evolve. With delays and supply line changes becoming inevitable, you will need to be prepared.
- Identify new opportunities for growth: Be on the lookout for more opportunities, whether that is new clients, new market sectors, or new business models.
- Avoid mistakes and improve decision making: With financial challenges coming in the forms of increased supply costs, labor shortages, delays, and other issues, construction companies are looking at everything possible to keep profits up and costs down. Learning to avoid costly mistakes due to delayed or incomplete decision making is crucial.
If you are interested in learning more about the points above, register today to attend the June 16 webinar co-hosted by Autodesk and FMI webinar.