The new COVID-19 pandemic heavily affected all economic sectors. It is hard to overestimate the aftereffects taking place in the whole business world, but the construction and renovation industries especially require investment support and carefully managed functioning mechanism. Which supporting measures are introduced for staying afloat?
The current situation in the construction and renovation industries is quite difficult. Like any other field of the economy, the property market is in a state of shock over this. The restrictions, imposed because of the pandemic, completely paralyzed the activities of most of the construction companies.
Furthermore, a considerable number of building organizations froze their work, leaving thousands of people without jobs. Thus, it is important to understand that the crisis is only in the initial stage.
One of the key elements that enable any working process to survive is constantly updated technical support, the introduction of new innovative solutions concerning equipment, management, information base, working staff and surrounding, etc.
Particular attention should be paid to already existing services that give lots of opportunities to keep up with the times. For example, the implementation of digital technologies provides constant communication between people. It also enables visualization and supervising control over the working progress.
Talking about the improvement of workspace, such services that are specialized in progressive solutions for furniture and equipment should be placed at the top of priority ranking. The most respected ones even have the construction tool on their website. This tool helps customers to build the desired piece of furniture with consideration of all individual wishes and needs.
What Serious Challenges Have the Construction and Renovation Industries Been Exposed To?
- The reduction in workload. In general, the construction of currently active building objects continues. But there are companies who decided not to launch new projects next year.
- An unavoidable decrease in working capital and financial support. The warranties and indemnities cannot be ensured properly in crisis conditions. The forecasting activity became partially invalid.
- The shortage of human resources. Human resources involved in the construction and renovation industries consist mostly of people with a migration background. Transport links between countries have been partially or fully discontinued.
- The shortage in the supply of building materials and equipment. Serious interruptions take place within projects that are assisted by foreign suppliers.
- Delays in terms of implementation. The specialists involved in projects cannot go to the place of work due to quarantine. Experts cannot perform architectural supervision and ensure that workers will exactly follow the ratified drafts.
- Complicated document circulation hampered by pandemic restrictions. It is highly time-taking to provide proper document management with the inspecting agencies.
- Limited communication between all participants in the construction process.
- Sanitary safety. A pandemic, in contrast to a purely economic issue, is characterized by a high level of risks and dangers associated with health.
It is emergently necessary to provide measures that ensure the construction of the companies’ resistance to stress caused by changes in the economy, technologies, and government policies.
What is Being Done to Support the Construction and Renovation Industries in Crisis Conditions?
Although the whole industry cannot be reorganized rapidly in such a way that all the named aspects will be taken into account, still, the innovation approach allows transforming the working process into a flexible one that is easily maintained in difficult conditions. What changes are taking place?
- Development and active use of digital technologies. There is a wide range of new software enhancing the processes of project planning, design engineering, scheduling, and forecasting. They also allow monitoring of the construction progress to all interested parties, including the full control from the side of responsible specialists. The remote live chat, which became possible thanks to the effective programs, ensures timely discussion, elimination of errors, and coordination of all interrelated parts of the project work performed. The experts do not have to drive to the office or meet face-to-face. It is finally possible to hire foreign professionals to assist in the construction from abroad. Document management has been facilitated the same way. Thus, the work with electronic documentation as well as signing needed permits, which can be done remotely. Online consultations, guided tours of the construction sites are practiced successfully.
- Reorganization of workspace. The companies take their responsibility to reorganize the working places for people to raise the maximum productivity and efficiency. New engineering solutions, comfortable ergonomic furniture, multi-functional up-to-date equipment are intended to make the operating personnel focus on work progress.
- Sanitary safety standards. In the new difficult conditions, the majority of construction and renovation companies continued to work on the started building objects by changing the technical regulations in strict accordance with sanitary safety.
It should be mentioned that the current economic and epidemiological situation showed the acute need to develop a special force-majeure plan that should be implemented immediately to lessen the negative effects of the crisis.