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It encompasses various factors such as resource allocation, time management, task coordination, and overall project performance. The Construction Intelligence Center (CIC) found that globally, construction projects experience an average cost overrun of 35%, while the average project duration is 20% longer than initially scheduled.
As a result, general contractors (GCs) face significant challenges in managing construction projects effectively. They must coordinate with multiple parties, track progress, manage budgets, and mitigate risks to ensure project success. from 2021 to 2026, according to a report by Mordor Intelligence.
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