An effective method to combat this obstacle is through project management . Using project management software helps contractors streamline the workflow , track progress in real-time , and monitor any potential delays . For instance , more than 48 % of all builders don ’ t know their fixed expenses per job per day 1 .
Contractors can also work with multiple suppliers , implement improved inventory control management systems , and invest in local sourcing to reduce supply chain problems .
Another contributing factor to delays is the shortage of skilled labor , which can make it difficult to retain employees – complicated by the fact that the industry itself requires a broad range of professionals from architects and engineers to construction workers and equipment operators 2 .
According to recent labor statistics , lack of training and education opportunities , combined with an aging workforce , are driving the skilled labor shortage – at a time when estimates indicate that the industry needs to hire more than 2 million workers by 2025 in order to meet demand . Contributing to the shortage of qualified construction industry workers are the effects of the pandemic , shifts in American cultural values , and workforce demographics 3 .
addressing challenges in today ’ s construction industry
SUMMER 2024 CONTRACTOR TOOLS - 19