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Create more value through infrastructure projects From accenture

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Accenture released a new report, “creating more value through infrastructure projects.”. Global research shows that 61% of operators of factories, mines, refineries, and public, telecommunications, and utility infrastructure organizations expect new projects to be delayed or shelved indefinitely due to the cowid-19 pandemic. In addition, 35% of engineering, procurement and construction service providers (EPC) surveyed said the scope of ongoing projects might be adjusted.

Many companies do not get the expected benefits from digital work. 79% of operators use data analysis to predict project performance and real-time project decision support. However, only 34% of the enterprises reduced the project maintenance and operation costs; 38% of respondents improved construction productivity. 79% of EPC deployed logistics control tower for logistics tracking, material, warehousing and personnel logistics management. But only 34% of enterprises can reduce the cost of equipment and materials. 75-89% of operators and EPC use data, data-driven insights and digital applications to better mitigate risks and improve project efficiency or execution, but only 32-44% of respondents achieve the set goals. The survey found that the reasons for this situation are the strategic failure to establish a correct operating environment, the motivation to establish a data centric culture, and the inability to operate data and technology.

It is found that the production efficiency of 24% of operators and 14% of EPC exceeds the average level of the industry. Accenture found that companies with outstanding performance usually take four different actions, which can bring an additional 6.6% return on capital investment for operators and increase the operating profit margin of EPC by another 5.8%:

There is an executive in charge of data.

Build the basic framework and function of data sharing.

Establish a data centric talent structure.

Provide incentive based contracts.

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