[ad_1]
The Association for Project Management (APM) survey has revealed that almost four in five engineering project managers report their main projects being affected by recent economic events in the UK.
The majority (79%) of project managers surveyed said their main project has been affected by recent economic events – including rising energy prices, inflation and interest rate hikes.
Of those project managers who said their projects had been affected, 41% said supply and procurement for their projects had been affected, 37% said recruiting for their projects had been affected and 34% said recent Economic events have changed priorities.
APM, the chartered membership organization for the project profession, believes its survey reveals the impact of recent economic events and the cost of living in the UK on projects and the people who deliver them.
Professor Adam Bodison, Chief Executive of APM, said: “Individuals and industries across the UK are currently dealing with the cost of living crisis and the engineering sector is no different, as revealed by the findings of our latest survey.
“It is clear that many projects are being affected by recent economic events. What is more, a large number of project professionals say that their well-being has been negatively impacted.
More than half of the 1,000 project professionals who were surveyed called on the government to prioritize investment in infrastructure to provide greater economic stability for projects and project professionals.
Meanwhile, 42% said sourcing new energy supplies is the most important issue facing the sector and 44% also said more investment in education is needed.
The survey also revealed that the cost of living crisis is having an impact on the personal well-being of project professionals. Over 67% of project managers working in the engineering sector said that their well-being has been negatively affected by the current situation in the UK. The findings also showed that employers are responding, with 87% of engineering project professionals saying their employer is helping in a variety of ways.
Bodison said: “It is positive to see the high number of respondents who say their organization already has some plan in place to support employees financially, whether it is to help with living expenses or living expenses for employees. to provide the cost of payment.
“However, we urge all employers to take note of the findings of our survey and continue to put in place appropriate support mechanisms for the wellbeing of their staff, which in turn will help the long-term success of project delivery in the UK.”
Recently, the cost of many road projects in the UK has increased dramatically due to inflation and rising material costs.
Last month, Leicestershire County Council said it planned to make progress with plans to build a relief road despite the estimated cost doubling from £63.5M to £127M. The long-awaited 7.1km Melton Mowbray Distributor Road will reduce tailbacks in the center of Melton, but inflation in the construction industry has led to price increases.
It was also announced that the cost of the Carlisle Southern Link Road (CSLR) had doubled from £75M to £150M due to, among other things, “building material costs and rising energy costs”.
Along with the indefinite halting of the A361 North Devon Link Road and the re-tendering of the M5 junction in Gloucestershire, the CSLR is one of a series of road schemes that have been hit by inflationary cost increases. The Local Government Association has also warned about the pressures that the increase in road construction costs is putting on local authorities.
as you read Click here to receive the daily and weekly newsletter of New Civil Engineers.
[ad_2]
Source link
