Construction management is the overseeing and coordinating of all tasks and activities involved in construction projects from start to finish. It covers all essential elements of the construction process, including its schedule, cost, quality, function, and safety.
According to the Global Construction 2030 report, the global construction industry is set to grow by 85% to $15.5 trillion by 2030. The report predicts that three countries – China, US and India – will lead the way and account for 57% of all global growth. Robust population growth, rapid urbanisation, expanding economies, and government-led infrastructure initiatives are the major factors that drive the construction demand in these countries.
The construction industry is not only constantly evolving but also getting increasingly complex. The complexities of modern construction come with exciting possibilities and tough challenges for the industry. Globally, the industry is poised to undergo significant transformations driven by emerging technologies, sustainability initiatives and evolving demands. Adapting new technologies and methodologies and meeting industry demands are crucial for success of construction projects.
Trends
Advancements in technology have made it possible to capture real-time and accurate data in construction projects thereby enhancing the quality and speed of critical decisions.
Building Information Modelling (BIM), helps to visualize the project in 3D, reducing errors and enhancing communication and collaboration among various stakeholders.
Robotics and automation have made repetitive and hazardous tasks easy improving project efficiency and project safety. Drones are being increasingly used for project monitoring and surveying. Topographic maps with accuracy created using aerial imaging technology aid in project planning and resource allocation.
Artificial intelligence and machine learning technologies are revolutionizing construction by providing actionable insights and optimising processes at every stage of the project, from design to operations and asset management. Sensors and smart devices embedded in construction equipment and building materials help in optimizing equipment utilization, accurately predicting maintenance requirements and ensuring project safety. 3D printing which is finding wide application in the industry is bringing in speed and efficiency in the creation of complex structures and components.
With the focus on sustainability and green practices, the adoption of ecofriendly practices in construction from pre-construction to project closure and decommissioning has become imperative. Their prominence will become more pronounced in the coming years. The use of sustainable materials such as bamboo, recycled steel and concrete, and engineered wood is being encouraged in construction. Energy-efficient designs and green building certifications are becoming the norm. To reduce energy consumption, practices such as rainwater harvesting, installation of solar panels and energy-efficient HVAC systems are becoming an integral part of most projects. There is also a growing compulsion to reduce waste through improved project management and recycling efforts. Prefabrication and modular construction helps keep overall costs low, shortens the construction timeline, improves productivity and reduces waste.
Opportunities
Construction is, no doubt, a booming industry. The global construction industry is on the cusp of huge transformations as demand continues to grow and the demand shifts to smarter and sustainable construction.
In this increasingly complex industry, to turn a construction project into a successfully completed project, professionals with the creative and scientific capabilities of an engineer, and the managerial and leadership capabilities of a project manager play a key role. There is an increasing demand for professionals with such skills. The demand is so much that those professionals with the skills have a significant competitive edge, with greatly enhanced career possibilities, over those who do not.
A Masters in Construction and Project Management can help individuals acquire those skills that will empower them to be effective construction managers who can hold the construction project together and keep it running smoothly. The programme is typically designed to equip participants with the requisite knowledge and skills to manage a construction project through its entirety, from blueprint to final walkthrough, meeting the evolving needs of the industry. As a discipline that combines architecture, engineering, technology and business with research skills, a degree in construction management offers many career opportunities to graduates ranging from construction manager to construction inspector to general contractor to estimator to field engineer to sustainability consultant and more.
