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INSIGHT: Brazil offers lessons for policymakers on optimizing infrastructure investments.

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As countries grow, they need better transportation, energy, and communications networks. But how should a country go about prioritizing these investments? Are there synergies from coordinating them? Should they be done simultaneously or sequentially? Two recent World Bank studies focusing on Brazil, a country that has rolled out massive infrastructure investments over the past decades address these questions. Economists tell us that infrastructure is key to development. Not only is infrastructure crucial for people to go about their daily lives, but it also has major impacts on productivity (think, e.g., electrification of production) and access to markets (through faster and cheaper transportation of goods). Even more importantly, infrastructure investments are needed for countries to transition from agrarian to more diversified industrial and service-oriented economies, offering more economic opportunities to improve living standards and reduce poverty. 3 KEY POLICY INSIGHTS FROM BRA
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REVIEW : Global construction loses billions in disputes

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The Seventh Annual CRUX Insight Report, titled "Changing the Narrative," uncovers the extent of disruptions and financial consequences faced by engineering and construction projects worldwide. The report's analysis of 2,002 projects across 107 countries, representing a total value of approximately US$2.2 trillion, reveals an average of US$83.1 million in disputed costs.


Moreover, the average time overrun added nearly 16 months or two-thirds (66.5%) to the typical project schedule. The total value of contested amounts on the analyzed projects reached US$84.44 billion. This persistent cycle of claims and disputes imposes a significant burden on projects and stakeholders.

However, industry players can mitigate risks on infrastructure and capital projects more effectively by taking proactive steps to disrupt construction's mega disrupters. Addressing this is of paramount importance for the industry's growth and sustainability.

The full article can be read on THE CONSTRUCTION BRIEFING follow our Whatsapp channel here for more hardhatREVIEWS.

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