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Ongoing Construction Project

Did you know

In the UK construction industry, a significant portion of projects experience delays, with trends indicating an increase in the frequency and impact of these delays over time. A 2022 survey revealed that 91% of respondents had been involved in a delayed project in recent years, a 6% increase from 2016. In 2016, less than 30% of construction projects were estimated to face delays; by 2022, 28% of respondents believed that over 50% of projects experienced delays. These delays are not just in terms of time but also in financial terms, with the delay-related cost increase being particularly notable: in 2022, 47.56% of respondents estimated delays added more than 20% to project costs, up from 27.7% in 2016. Furthermore, 5% reported their last delayed project cost over 50% more due to delays, compared to 3% in 2016.

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Planning and resources

In 2022, poor planning (31.4%) and resource availability (20%) were the top reasons for delays

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Rising Material Costs and Shortages

Material Cost Increases: 98% of builders encountered increased material costs in Q1 2022.

Labor and Material Shortages: Delays due to material shortages (73%) and labor shortages (55%).

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Inflation and Energy Price Effects

Inflation Challenges: Rising costs significantly impacting project timelines and budgets.

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