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Key international studies suggest that the direct costs of avoidable errors are in the order of 5% of project value. This equates to approximately £5bn per annum across the UK – 5 times the profit margin.
When unrecorded process waste, latent defects and indirect costs are included, the situation gets much worse with estimates of total costs of error ranging between 10% and 25% of project cost or between £10–25bn per annum across the sector.
The Get it Right Initiative is a new organisation tackling these avoidable errors. Its single aim is to significantly reduce construction error and its consequences.
During the event delegates will be encouraged to:
This event has been commissioned by the NI Construction Group and the Central Procurement Directorate and will be facilitated by Tom Barton, Executive Director of the Get It Right Initiative.
08:00 Registration and breakfast
08:40 Get It Right Workshop – Tom Barton FICE, Executive Director of Get It Right Initiative
09:45 Closing Remarks