Construction Forecasting: Planning the Road Ahead

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Phil Puccio

The ability to correctly predict future work and profitability will become even more important in the years to come.

Construction forecasting can be a difficult road to follow due to the myriad of variables companies face when planning, especially on large and complex projects.

Still, the prediction is one fundamental aspect of every successful business, especially now. In the course of the COVID-19 pandemic, the construction industry is still in troubled waters. The phrase “unprecedented times” may be more tired than a bricklayer on Friday afternoons, but it sums up the moment we live in. Without similar business experience to help us predict what will happen next, Forecasts are more important than ever.

Against this background, the construction forecast must include as many information input points as possible from both internal business and the external landscape. For example, a new reality in the building and construction industry is Lack of wood and building materials caused by the economic consequences of the pandemic. Without in-depth forecasting and financial planning that takes such delays into account, projects and entire companies run the risk of severe road bumps.

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Original Source: https://www.viewpoint.com/blog/construction-forecasting-planning-the-road-ahead
Category – Construction

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