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News/July 11, 2012

FMI Releases The Science of Efficiency and Productivity

RALEIGH, N.C. (July 11, 2012) ─ FMI Corporation, the largest provider of investment banking and management consulting to the engineering and construction industry, announces today the release of its latest whitepaper: “The Science of Efficiency and Productivity: Construction 2.0 in the New Normal.” Based on the 2012 Productivity Survey, Gregg Schoppman, principal with FMI, looks at the practical effects efficiency methodologies are having in the marketplace.

The whitepaper begins with the premise, “As long as there is one bidder willing to work for cost, or even less in some cases, the paradigm of low cost providers will win. A less popular phenomenon, but one that bears contemplation, is that some of these ‘buying’ contractors are in fact more efficient and productive than are their peers. ‘There is NO WAY the competition can do it for that,’ is a fairly bold proclamation heard throughout contractor bid war rooms daily. What if even 50% of the competition is able to not only to do it for that price but also make money in the process?”

Based on the experiences of senior executives at more than 100 contracting firms, Schoppman takes a look the benefits and pitfalls of the three most popular methodologies: Lean Construction, Building Information Modeling and Prefabrication/Modularization. He surmises, “While construction technologies will vary, there is no question that the construction industry will resemble that of a manufacturing firm rather than that of a traditional construction firm.”

Market conditions are necessitating the need to make productivity a strategic priority. Simply building a better mousetrap will not suffice. Contractors must take an exhaustive and introspective look at how they build. Lean, BIM and prefabrication are mere examples of productivity enhancements in 2012 and the coming years. The inalienable truth is to stay competitive contractors need to commit to efficiency, regardless of the buzzword.

To download a copy of “The Science of Efficiency and Productivity: Construction 2.0 in the New Normal.” click here. For reprint permission or to schedule an interview with the author, please contact Sarah Vizard Avallone at 919.785.9221 or savallone@fminet.com.

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