You could be forgiven for thinking that construction is an industry in crisis: a number of high-profile projects have failed to be delivered either on time or at anything resembling the supposed budget. One trade publication’s recent headline suggested that the Wembley fiasco had left construction “in the gutter” .
So, what is the problem? The construction industry operates at very tight margins: most major contractors would view a 3% profit figure as good going. When you add in the fact that contracts tend to be let on competitive tenders (with price often being the deciding factor) and acknowledge that even well-run construction projects can be complicated and inherently risky, it is not difficult to see how problems might occur.
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