A strategic development document investigating the impact of digitisation and digitalisation on cost management in the construction industry, and more specifically Rider Levett Bucknall by 2030
A strategic development document investigating the impact of digitisation and digitalisation on cost management in the construction industry, and more specifically Rider Levett Bucknall by 2030. Executive MBA thesis by Andrew Osborn, Aston Business School, February 2022.
[edit] Summary
This research study focusses on RLB UK Ltd, a professional services business based within the UK that provides professional services to the construction industry. The purpose of this research is to investigate the impact of digitisation and digitalisation on the Cost Management profession and how any risks can be mitigated, and opportunities capitalised on. As 60% of RLB’s turnover is derived from this role it is important to identify incoming technologies and legislation, recognise any threats from these and make recommendations on how to mitigate the risk and capitalise on opportunities. The study draws on industry and academic literature and response from interviews.
The research is conducted as a thematic analysis of responses from semi-structured, open interviews with fifteen subject matter experts from RLB and the wider construction industry.
From the review of academic and industry literature some initial themes were identified, these were used to produce a number of questions to delve deeper into these themes and garner insight from the SME’s.
From coding of the transcripts and subsequent categorising of the codes, six higher order themes were discovered, these were: Change Management, Data Strategy, Digital Skills Gap, Digital Trends, Industry and finally Workforce Planning.
Through analysis of responses relating to the above themes, three key areas of risk to the business were identified: the value placed on data by the business, the positioning of the business to achieve its digital aspirations, and finally the digital skills gap.
To mitigate these risks the following courses of action are recommended:
- Implementation of a data strategy to support the business for future digital innovations
- Undertake a Board level review of the business’ digital ambitions and determine the position of RLB in terms of digital innovation and adoption
- Create a strategy to plug the existing and future skills gap though alignment with nascent digital positioning and data strategy by collaborative work with the Board, HR, and L&D functions of the business.
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