01 / Introduction

The world is rapidly changing, and real estate needs to be agile to adapt to different demands and constraints – and, more than anything, uncertainty. 

The UK construction industry has shown it can adjust to changing circumstances, yet consistent commercial success on major projects remains elusive: large public project failures are just the tip of the iceberg. It is not just sponsors and clients that suffer: contractors can be dramatically affected by poorly performing projects, as reflected by recent administrations. This has been the situation for decades, but recent shocks and persistent instability have exacerbated the risks in development and construction for all involved. We are faced with historically high construction costs and a high-risk, uncertain environment. What part does procurement play in this?

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