In 2023, the construction industry largely stabilized compared to previous years. Although the industry has not returned to pre-pandemic norms, costs and supply chains have become more predictable and easier to navigate. This trend, along with robust project pipelines, has led many to forecast 2024 as a rebound year for the industry.

However, despite the positive outlook, 2024 still promises to present its fair share of construction industry challenges for businesses, especially project managers. Here are the top 6 challenges in construction that project managers can expect to face in 2024. 

Managing costs and project timelines isn’t a new challenge for construction project managers. One study found that over 91% of construction projects either go over budget or over schedule, sometimes even both. The common culprits? 

• Rising costs of materials and labor
• Changes in designs and client demands
• Unpredictable weather conditions
• Unrealistic estimates to win bids
• Scope creep

In 2024, these challenges will remain at large. While construction project managers can anticipate a stabilization of the cost volatility that characterized much of the COVID era, they should still prepare for a moderate increase in overall costs throughout 2024.

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