Experts believe that there are two things that need to be done to improve the construction industry’s bottom line. First, the industry needs to be more fixed on the customer. Second, productivity must improve. Even with big investments in these areas, little has changed. One professional believes there is a single reason for this: a lack of experimentation.

Keep reading to find out what they mean by this and what it could mean for the construction industry. At Fund Control, we are always keeping an eye on changes in this industry and other industries that involve fund control.

What is Standing in the Way?

The truth is that even when a person has an innovative idea, the cost of making a mistake is so high that those with the purse strings often do not want to take a chance on it. Even with the best of intentions, any new programs that involve a level of risk are often not tolerated. Laborers are busy with their daily tasks, middle managers do not see value in changing habits, and those at the top are often adverse to risk.

There Are Ways to Encourage and Support Change

The goal here is to prevent a situation in which the construction industry does not change until a crisis occurs. Change out of innovation can be carefully crafted, while change that comes out of a crisis is by nature hurried and rarely well thought out.

One of the easiest ways to introduce change is through development projects. The problem is that many companies in the position to implement real change end up focusing on goal-setting and planning while ignoring learning and taking action. The programs can turn into just another seminar instead of something that excites and unites change.

Understanding When and How to Experiment

The list of ways in which a company can experiment is nearly endless. They can start by looking at how they bid for projects. They can experiment in how they communicate with clients, how they collaborate with others and within their own company, how they manage information, how they hire – the list goes on.

A company can choose one of the above, or their own idea of when to experiment and move forward. They will have the most success if the goal is to learn more rather than to disrupt the industry. After all, not all experiments will be successful, but there is always something to learn from.

If your company wants to be an innovator but doesn’t know where to start, consider starting by experimenting with our tried-and-true, value-tested fund control software. To learn more, contact us at 800-625-5972.