Key Factors in the Future Development of the Construction Industry

This paper reports on a recent study aimed at identifying the key factors influencing the development of the construction industry. From a list of 62 variables identified in earlier studies, a questionnaire survey was conducted. This quantitative study elicited views from 76 respondents and measured the importance of the 62 variables as well as their current strength. The two quantitative data sets were used in a statistical factor analysis and were each reduced to a set of key factors. The six factors of future importance are relevant to both developed as well as developing countries and comprise: long-term vision and policy for the industry; basic resources and infrastructure [physical & institutional]; thinking the best and behaving the best (a best practice culture); financial and human resources; techniques supporting high production performance; and a learning culture.