The construction industry contributes significantly to total global gross domestic product (GDP). In almost any country in the world, the construction sector is a good indicator of economic health and activities. Further, it is a big factor in the overall wealth creation of a particular area or region. In fact, the construction industry is a boom-and-bust sector that also mirrors the local economic situation. If the economy is booming, it is an accurate expectation that construction activities will also increase to build new houses, new offices, new hospitals, new schools and other structures to accommodate population growth and increased economic activities. Time passage also makes construction activities necessary as structures grow dilapidated.

Construction activities can be quite simple or highly complex. It depends on the project being undertaken – a simple bathroom renovation can be done by the homeowner if he is fully capable and likes to do it. Skycraper or high-rise building construction is considerably more large-scale and is a multi-tasking challenge to everyone concerned with its conception, design, planning and actual construction. Any construction activity has essentially three aspects involved – design and planning, financial considerations and legal implications. Previously unconsidered environmental factors now play an increasing role in construction planning right from the start.  

Contrary to popular opinion, the essentials of construction involves much more than the customary construction materials and skilled labor component. This complexity is further compounded by considerable fragmentation within the industry itself. There is a maze of zoning, planning, legal, financial, and environmental regulations that have to be complied before and after construction. The challenge is to translate an idea or design concept into concrete reality and requires a number of skills or specialties. This has resulted in the present trend of integrating all the specialties in big construction companies that compete globally. Big players such as those commissioned for large infrastructure projects like bridges, harbours, dams and airports combined engineers, architects, designers, developers, construction managers and general contractors all in one office to offer complete “one-stop shop” services from inception to completion.  Other firms pursued a niche strategy to become dominant players in their specialty to better address downward pressure on profit margins and increased incidence of fraud.

 http://www.pwc.com/extweb/challenges.nsf/docid/69caea9cb338753f85257013005521bf

http://www.guidetobceconomy.org/major_industries/construction.htm

http://www.statistics.gov.uk/CCI/nscl.asp?ID=5316

 This site gives a brief overview (a snapshot) of the construction industry and how it impacts our lives in a myriad ways. The visitor is expected to learn the intricacies of this industry and also its present problems and future challenges as it evolves further. The site also provides important weblinks related to the industry for further research.