The impacts of COVID-19 will certainly influence the industry and create new challenges. However, one source of positivity for the industry is the collaboration of numerous stakeholders to produce the NHS Nightingale Hospitals, temporary hospitals set up for the pandemic.
The project is a fantastic example of using collective efforts to produce project excellence. The industry should learn lessons from these projects, moving forward in 2020 with confidence and trust in the benefits of closer working. We have seen early indications of major stakeholders, including contractors, indicating a desire to sign the Conflict Avoidance Coalition (CAC) Conflict Avoidance Pledge (CAP). The CAC CAP findings resonate with our research.
One challenge financial institutions predict is another recession, and we hope that clients, contractors and industry stakeholders alike can draw upon lessons learned during the previous global financial crisis in 2008. We encourage the industry to use these lessons to improve collaboration and stick together.
It would be naive to think that parties in a commercial world will always approach a project from the same viewpoint, however an increase in the early engagement of the supply chain and conjoined approaches could assist in reducing the impacts of any financial downturn.
The Brexit process moved forward during 2019 through the resounding general election victory for Prime Minister Boris Johnson leading to the official withdrawal of the UK from the EU on January 31, 2020. Negotiations will continue throughout the transition period, but we hope that the certainty of the government's direction will provide the industry with an investment boost in key areas.
Further collaboration is needed between parties drafting clauses and obligations in contracts, with a focus on those who will be delivering the works. A change in mentalities is required from all industry stakeholders as the contractual clauses cannot achieve project excellence on their own. We encourage parties to make administration of contracts easier. Additionally, increased usage of Building Information Modeling (BIM) and other collaborative risk management tools can help all parties understand project needs and goals.
In light of the current global situation we encourage stakeholders to deploy more efforts in the early resolution of disputes, especially those with known time and cost benefits, to minimize the potential impacts arising from differences. 2020 will pose a challenging period for the industry, but through collaborative efforts we can seek to change for the better. There has never been a better opportunity for positive change.