The construction industry in 2024 faced a year of crisis for large-scale projects, significantly impacting industry participants and public trust in construction processes as a whole. At the same time, it brought to the forefront several strategically important issues related to project management, efficiency, and quality.
Sergejs Frolovs
Founder and CEO of BLV Advisory Group
The most frequently observed problems, including vaguely defined scopes of work, frequent delays, and cost overruns, have exposed vulnerabilities in the industry and highlighted the need for transformation. To move forward successfully, the industry has been compelled to focus on careful planning and effective management strategies.
Through research and the experience accumulated by the BLV Advisory Group team, we have identified several issues specific to the local construction sector. In many cases, project implementation has been hindered by inadequate attention to the clarity and precision of project scopes, leading to confusion and delays throughout subsequent phases. Similarly, deficiencies in project documentation often require revisiting the entire project, causing not only delays but also significantly increasing costs.
The quality of construction work has also been frequently impacted by insufficient oversight and a lack of communication between the parties involved. BLV Advisory Group’s experience reveals that one of the main challenges lies in the absence of an integrated approach. Too often, we encounter situations where the lack of cohesive planning leads to unforeseen issues and losses. This underscores the need to improve both planning and project management processes to prevent similar situations in the future.
Regarding the services offered by BLV Advisory Group, we have observed an increasing demand for professional support in project management and oversight.
”More and more clients value services that go beyond standard project management practices, including the preparation of technical documentation, management of certification processes, and expert consultation in complex scenarios.
While 2024 has undoubtedly left its mark on the industry’s dynamics, it also provided valuable lessons. The most effective approach involves systematic planning and active utilization of available tools for budget and timeline management, as well as ensuring quality control.
Open communication and effective collaboration between all stakeholders in a project are critical factors for ensuring successful outcomes. In 2025, participants in the construction industry must focus on the importance of competent project planning. For projects already in progress, it is advisable to critically reassess their current status and development prospects by conducting detailed audits and improving processes in subsequent stages. This will not only help the industry regain lost trust but also ensure sustainable growth in the future.
The successes and failures of large-scale projects act as a litmus test for the entire construction industry. It is evident that projects driving demand for new approaches to project implementation have the potential to positively impact the overall level of construction on a national scale. While these changes are being introduced gradually, any progress in the right direction is undeniably a positive step forward.
