Sustainability of Constructed Assets
The Engineering and Construction industry greatly affects the economy, the ecosystem, and the public as a whole. It affects the daily lives of individuals, as quality of life is greatly affected by the developed ecosystem surrounding them. The construction industry serves almost all other industries, as all economic value creation occurs within or by way of buildings or other constructed assets.
However, various global megatrends are shaping the future of construction such as climate change and urban migration. Such trends offer proposals and opportunities, which require an immediate response from the industry as a whole. The industry has a responsibility to transform. Its transformation will have effects on the wider public, by lowering construction rates; on the ecosystem, by improving the application of resources or by making constructed assets more eco-friendly over time; and on the economy, by boosting economic and global infrastructure development.
The industry has great potential, although, for improving productivity and efficiency, thanks to digitalisation, innovative technologies, and new construction techniques. Consider the rapid emergence of augmented reality, drones, 3D scanning, and printing, Building Information Modelling, autonomous equipment, and advanced building materials which have all attained industry maturity. By supporting and adopting these innovations, the sector will boost productivity, streamline their project management and procedures, and enhance quality and safety. To capture all this potential will; require a devoted and concerted effort by the industry across many aspects, from technology, operations, and strategy to personnel and regulation. The future of sustainable constructed assets requires the devotion and encouragement of many active participants in our industry – individuals who believe in a modern Engineering and Construction industry that will benefit the entire public.
Our efforts at the Kayndrex Foundation has focused on how the Engineering and Construction industry can benefit from new technologies and operation procedures to move the industry forward. The Foundation is collaborative in nature, aimed at supporting the Engineering and Construction sector as it attains its transformation.
The industry is also very much affected by politics and regulation and thus needs to optimise its interactions with the public sector. The sector should cooperate in their efforts, to ensure constructive communication with public bodies, to monitor political developments accurately, and to implement an effective advocacy strategy. Also, the government should create a fertile environment for the transformation of the Engineering and Construction sector.
Many of the issues and opportunities are common across the construction industry, but generally the industry remains very diverse. Firms have varied circumstances and starting points, according to their region, the sector they are active in and their size. Firms have to choose the innovations and action areas that best suit their own ambitions and their clients’ needs. Given that they do choose wisely – and support the choices actively and astutely – they should secure their own future, and secure a flourishing and exciting future for the entire industry that they represent.