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Revizto: Top 5 Challenges Slowing Global Infrastructure Projects
['Oct']
For Construction Pros
Global infrastructure projects continue to face major setbacks, with political instability, fragile supply chains, and outdated delivery models among the leading obstacles, according to new research involving leaders from projects such as Heathrow, JFK and Network Rail.
The World Bank estimates nine in 10 projects face delays or cost overruns, while McKinsey calculates inefficiencies at $1.6 trillion annually, a third in the U.S. With global infrastructure demand projected to reach $94 trillion by 2040, experts say systemic change is critical.
Revizto insights find that disruptions in projects are likely to increase due to coordination issues, cost overruns, delays and disruptions.
To combat the problem, the research targets the main challenges facing infrastructure projects.
Fragile supply chains: Global shocks and climate risks expose vulnerabilities.