Innovation, Strategy and Risk in Construction integrates insights from business and government leaders with contemporary research, to help built environment professionals turn serendipity to their own advantage by building greater innovative and adaptive capacity into their operations. Accessible and full of practical examples, the book argues that traditional business strategies which seek to systematise innovation and eliminate uncertainty need to be balanced with more flexible approaches which acknowledge and harness uncertainty. The missing key to innovation, it is argued, is to turn serendipity into capability. The author proposes a simple model which allows managers to tap into the increasingly dynamic and interconnected nature of the construction industry. Innovation does not occur in isolation within individual firms, but through collaboration. Each stakeholder in the construction industry has a responsibility to drive innovation, and this book will be key reading for consultants, contractors, subcontractors, suppliers and clients, as well as policy makers and all serious students of construction management.

1. Serendipity and innovation -- 2. The innovation process -- 3. Innovation in construction -- 4. The history and future of innovation in the construction industry -- 5. Strategy and innovation -- 6. Organizing for innovation -- 7. Managing the risks of innovation -- 8. Conclusion : we need a reality-check.

This myth-busting book shows large companies can construct a strategy, system, and culture of innovation that creates sustained growth. Every company wants to grow, and the most proven way is through innovation. The conventional wisdom is that only disruptive, nimble startups can innovate; once a business gets bigger and more complex corporate arteriosclerosis sets in. Gary Pisano's remarkable research conducted over three decades, and his extraordinary on-the ground experience with big companies and fast-growing ones that have moved beyond the start-up stage, provides new thinking about how the scale of bigger companies can be leveraged for advantage in innovation. He begins with the simply reality that bigger companies are, well, different. Demanding that they "be like Uber" is no more realistic than commanding your dog to speak French. Bigger companies are complex. They need to sustain revenue streams from existing businesses, and deal with Wall Street's demands. These organizations require a different set of management practices and approaches -- a discipline focused on the strategies, systems and culture for taking their companies to the next level. Big can be beautiful, but it requires creative construction by leaders to avoid the creative destruction that is all-too-often the fate of too many.

Clients have been identified as critical for building delivery but have been under-researched with only a few studies about them. This book seeks to address this gap. A deeper look into the nature of construction clients and their relation to building users exposes more fundamental questions related to the activity of building and the activity in the building. These fundamental questions include 'How do clients get what they want?', 'How do clients cope with the building process?', and 'How are clients being shaped by building(s)?'. This book on clients and users is structured around three main themes: Agency is concerned with the classical agency/structure dichotomy on actions, roles and responsibilities or, put differently, whether actors can act freely or are bound by structural constraints. Governance is related to the interplay between clients and the supply system: clients govern the supply system but are at the same time governed by the supply system through different processes and mechanisms. Innovation deals with construction innovation and what part clients and users play in this struggle between change and stability. The book includes theoretical and conceptual frameworks on what constitutes clients and users as well as case studies on R&D themes of relevance to practice.

An essential guide to the structure, dynamics, and management of construction megaprojects Advanced Construction Project Management is a comprehensive resource that covers the myriad aspects of implementing a megaproject from a contractor’s perspective. With many years’ experience of managing construction megaprojects, the author provides an in-depth exploration of the structure, dynamics and management of these demanding projects. In addition, the book gives all stakeholders a clear understanding of the complexity of megaprojects and offers contractors the insight and essential tools needed for achieving results. As the trend to plan and implement ever-larger projects looks likely to continue into the future, the need for a guide to understand the challenges of managing a megaproject couldn’t be greater. Comprehensive in scope, the book explores the theoretical background, economics, complexity, phases, strategic planning, engineering, coordination, and common challenges of megaprojects. The book also provides the tools for managing stakeholder integration. This important book: Describes the structure, dynamics and management of megaprojects Explores the management activities required and examines the appropriate tools for the management of megaprojects Includes tools for stakeholder integration Provides an advanced understanding of construction management concepts Written for managers, project managers and engineers, and cost consultants, Advanced Construction Project Management covers, in one complete volume, the information needed to lead a successful project.

Innovation in construction is essential for growth. The industry strives to remain competitive using a variety of approaches and needs to engage structured initiatives linked to proven innovation concepts, techniques and applications. Even in mature markets like the Architecture, Engineering and Construction (AEC) sector, where business behaviour is generally considered as being risk averse, it is increasingly important to embed innovation into mainstream business practices. In Construction Innovation and Process Improvement a number of wide ranging issues from construction practice in different countries with different contexts are presented to provide a rich collection of literature embracing theory and practice. Chapters are divided into three broad themes of construction innovation relating to: Theory and Practice; Process Drivers; and Future Technologies. Several questions are posed, including for example: What is particularly unique about construction innovation in theory and practice? What are the major drivers of construction innovation? What factors are needed to support and deliver future construction technologies? In attempting to respond to such questions, the book sheds new light on these challenges, and provides readers with a number of ways forward, especially cognisant of the increased role of globalisation, the enhanced impact of knowledge, and importance of innovation. All these can have a significant impact on strategic decision-making, competitive advantage, and sustainable policies and practices. Part One deals with change management, technology, sustainable construction, and supply chain management; Part Two addresses innovation and process improvement drivers, including strategic management, concurrent engineering, risk management, innovative procurement, knowledge management; Part Three explores future technologies in construction – and particularly, how these can be harnessed and leveraged to help procure innovation and process improvement.

Risk Pricing Strategies for Public-Private Partnership Projects Innovation in the Built Environment The complexity of public–private partnership (PPP) project procurement requires an effective process for pricing, managing and appropriate allocation of risks. The level at which risk is priced and the magnitude of risks transferred to the private sector will have a significant impact on the cost of the PPP deals as well as on the value for money analysis and on the selection of the optimum investment options. The construction industry tends to concentrate on the effectiveness of risk management strategies and to some extent ignores the price of risk and its impact on whole life cost of building assets. There is a pressing need for a universal framework for the determination of fair value of risks throughout the PPP procurement processes. Risk Pricing Strategies for Public–Private Partnership Projects addresses the issues of risk pricing and demonstrates the use of a coherent strategy to arrive at a fair risk price. The focus of the book is on providing risk pricing strategies to maximise return on risk retention and allocation in the procurement of PPP projects. With its up-to-date coverage of the latest developments in risk pricing, and comprehensive treatment of the methodologies involved in designing and building risk pricing strategies, the book offers a simple model for pricing risks. The book follows a thematic structure: PPP processes map; risk, uncertainty and bias; risk pricing management strategies; risk pricing measurement and modelling; risk pricing at each of the project life-cycle stages – and deals with all the important risk pricing issues, using relevant real-world situations through case study examples. It explains how the theory and strategies of risk pricing can be successfully applied to real PPP projects and reflects the broad understanding required by today’s project risk analysts, in their new and important role in PPP contract management. Also in the IBE series Managing Change in Construction Projects Senaratne & Sexton 978 14443 3515 6 Innovation in Small Professional Practices in the Built Environment Lu & Sexton 978 14051 9140 1 Other books of interest Urban Infrastructure: Finance and Management Wellman & Spiller 978 0 470 65635 8 Project Finance for Construction and Infrastructure Pretorius, Chung-Hsu, McInnes, Lejot & Arner Construction Supply Chain Management Pryke 978 14051 5844 2 Policy, Finance & Management for Public-Private Partnerships Edited by Akintoye & Beck 978 14051 7791 7 Strategic Issues in Public-Private Partnerships, 2nd Edition Dewulf, Blanken & Bult-Spiering 978 0 470 65635 8

The offsite and modular market is continuing to grow. This book builds on the success of a number of initiatives, including formative findings from literature, research and development and practice-based evidence (success stories). It presents new thinking and direction from leading experts in the fields of: design, process, construction, engineering, manufacturing, logistics, robotics, delivery platforms, business and transformational strategies, change management, legislation, organisational learning, software design, innovation and biomimetics. This book is particularly novel and timely, as it brings together a number of cogent subjects under one collective ‘umbrella’. Each of these chapters contain original findings, all of which culminate in three 'Key Learning Points' which provide new insight into the cross-cutting themes, interrelationships and symbiotic forces that exist between each of these chapters. This approach also provides readers with new contextualised understanding of the wider issues affecting the offsite market, from the need to embrace societal challenges, through to the development of rich value-laden solutions required for creating sector resilience. Content includes a balance between case studies and practice-based work, through to technical topics, theoretical propositions, pioneering research and future offsite opportunities ready for exploitation. This work includes: stakeholder integration, skills acquisition, new business models and processes, circularity and sustainable business strategies, robotics and automation, innovation and change, lean production methodologies and new construction methods, Design for Manufacturing and Assembly, scaled portfolio platforms and customisability, new legal regulatory standards and conformance issues and offsite feasibility scenario development/integration.

Sustainable Construction Technologies: Life-Cycle Assessment provides practitioners with a tool to help them select technologies that are financially advantageous even though they have a higher initial cost. Chapters provide an overview of LCA and how it can be used in conjunction with other indicators to manage construction. Topics covered include indoor environment quality, energy efficiency, transport, water reuse, materials, land use and ecology, and more. The book presents a valuable tool for construction professionals and researchers that want to apply sustainable construction techniques to their projects. Practitioners will find the international case studies and discussions of worldwide regulation and standards particularly useful. - Provides a framework for analyzing sustainable construction technologies and economic viability - Introduces key credit criteria for different sustainable construction technologies - Covers the most relevant construction areas - Includes technologies that can be employed during the process of construction, or to the product of the construction process, i.e. buildings - Analyzes international rating systems and provides supporting case studies

Through the emerging lens of social enterprise, this book examines how the global construction industry can engage more effectively with the communities in which it builds, addressing disadvantage and environmental degradation to leave a positive legacy for future generations. Combining insights from leading research and real-life case studies of social enterprise in the construction sector, the result is a practical framework which will help social enterprises, clients, consultants and construction firms work collectively to build a thriving social enterprise sector. Readers of this timely book will learn to embrace social enterprise and an important new sector in the global construction industry. They will learn to see community involvement as an opportunity rather than a risk, and fully understand the broader role they can play in building a fairer and more sustainable society.