Professor Rudi Klein, SEC Group chief executive, explained that the industry’s only route to long-term improvements in growth and productivity lies in addressing these three topics.

SEC Group has noted that in spite of countless reports and initiatives, the industry’s procurement and delivery processes remain as adversarial, and non-collaborative as ever, with billions of pounds lost through process waste such as needless re-work.

In response, the organisation will be calling on public and private sector construction procurers to submit new projects for piloting alliancing arrangements underwritten by integrated project insurance, with the aim of achieving up to 20 percent savings.

Meanwhile, it is widely acknowledged that when it comes to the issue of payment, the construction industry is experiencing a financial crisis with large construction companies in financial distress and payments to SMEs taking longer and longer.

SEC Group will therefore be inviting both public and private sector clients to use project bank accounts to quicken the flow of cash to the supply chain. It is also promoting a Private Member’s Bill, due to be read in the House of Commons on January 9, to protect cash retentions.

Professionalism is the final issue to have been raised by SEC Group. Two 2017 reports - the Report of the Independent Inquiry into the Construction of Edinburgh Schools and Dame Judith Hackett’s Interim Report on the Review of the Building Regulations - have already expressed grave concern over the lack of competence and falling standards in the construction industry. 

SEC Group will be calling on the Government to give consideration to a statutory regime for corporate competence similar to construction licensing schemes in the US and Australia.  A licensing scheme, based upon current trade association schemes, will help to professionalise the industry.

Professor Klein said: “We are in desperate need of a new and re-vitalised impetus to help make the industry leaner and fitter to meet many challenges ahead, especially investment in digital and manufacturing technologies.”