In Colombia, hidden costs in construction projects can reach up to 18% of the budget due to avoidable project management failures

TL;DR

Up to 18% of construction budgets in Colombia can be lost due to avoidable reprocessing and inefficiencies, according to university estimates.
Globally, rework costs range from 5% to 10% of total construction costs, with Colombian projects experiencing higher impacts due to operational inefficiencies.
Approximately 70% of reprocessing stems from the design phase, and 48% is linked to communication and coordination failures among project teams.
Late changes in project stages significantly increase costs and create a chain of rework, affecting project efficiency and financial viability.
Adopting tools for early interference detection, decision validation, and shared information bases, like BIM, can significantly reduce errors and improve project coordination.
Reducing reprocessing is crucial for the construction sector to regain efficiency amidst economic slowdown and cost pressures.

Continuer la lecture de l'article original