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Australia's Construction Industry Overview

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Added on  2020-03-16

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AUSTRALIA’S CONSTRUCTION INDUSTRY (Author’s name) (Institutional Affiliation) Australia’s Construction Industry Overview The Australian Construction Industry evolved to be one of the major drivers of the country’s economic development. New Revolutionary Methods in Australia’s Construction Industry According to a 2016 statistical report produced by the Performance of Construction Index (PCI), Australia’s construction industry has witnessed increased activity levels over the last four years.

Australia's Construction Industry Overview

   Added on 2020-03-16

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AUSTRALIA’S CONSTRUCTION INDUSTRY(Author’s name)(Institutional Affiliation)1
Australia's Construction Industry Overview_1
Australia’s Construction Industry Overview The Australian Construction Industry evolved to be one of the major drivers of the country’s economic development. The industry is Australia’s third largest coming after the mining and finance industries respectively. As at the year 2015, the industry comprised of over 330,000 companies and employed more than a million people representing 9% of the country’s total workforce (Gerrard et al., 2010). The drastic growth of the industry is largely driven by a number of economic factors that range from income growth, population growth, technological development, industry activity, and commodity cycles. The widespread availability, location and price of resources, including building materials, building equipment and skilled labor are also factors that have contributed to the rapid growth of the industry (Acar et al., 2005). Another key factor that has contributed to the growth of the industry is the wide spread adoption of new revolutionary methods. These methods have been greatly promoted by the state government and positively accepted y the industry players. Below is a graph depicting a forecast on the trend of Australia’s construction industry2
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(Rodgers et al., 2015). New Revolutionary Methods in Australia’s Construction Industry According to a 2016 statistical report produced by the Performance of Construction Index (PCI), Australia’s construction industry has witnessed increased activity levels over the last four years. The report cites the adoption of new revolutionary construction methods as the primary drivers of construction activities in the country. One area of the construction industry which has faced significant growth due to adoption of revolutionary construction methods is the residential housing sector. According to 2015 report produced by the National Housing Supply Council, the country was facing a dwelling shortage of 328,000 in the year 2015 and the shortagewas expected to grow to 640,200 by the year 2030. However due to the adoption of pre-fabrication construction methods, the cost and time associated with construction have been significantly decreased. Through pre-fabrication constructors are able to simultaneously deliver multiple construction project elements thereby streamlining the construction schedule. The construction industry is also combining 3 D BIM with pre-fabrication to eliminate some of the potential 3
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problems in the construction face (Aranda-Mena, Crawford, Chevez, and Froese 2009). Anothernew revolutionary construction method that is widely being adopted in Australia’s construction sector is 5D Macro-BIM. Through this method constructers are able to efficiently determine the cost and schedule of a construction thereby enabling for efficient delivery (Blayse, and Manley 2004). The country’s construction industry has also widely adopted 3D BIM for modeling purposes thereby providing for efficient design which helps prevent coordination challenges in the field. Governments Contribution The Australian government has played a significant role in promoting the adoption of new revolutionary construction methods in the country. The government has implemented policies to streamline the process of acquiring financing for pre-fabricated buildings. This has helped to reduce the challenges associated with the proliferation of pre-fabricated construction inthe country. In an effort to drive investment in the construction industry, the government has established the Infrastructure Australia which is a body mandated to coordinate a national approach to the future infrastructure needs of the country. The body has also implemented a number of measures to promote the adoption of sustainable practice in the construction sector through the development of energy efficient green buildings. Industry Response The industry has exhibited mixed response to the adoption of new revolutionary construction methods. Even though pre-fabricated construction practices have grown significantly, there is still considerable resistance from small and medium sized construction firms in the country who face difficulty circumnavigating the challenges associated with financing for this projects. However, organizations like the Australian Construction Association 4
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