Seminar focuses on dip in Saudi construction industry budgets

Construction industry professionals and project managers at a recent seminar in Jeddah were told project management is becoming more important now that the construction industry in Saudi Arabia is facing a reduced budget for projects.

Construction industry professionals and project managers attending a recent seminar in Jeddah were told project management is becoming more important now that the construction industry in Saudi Arabia is facing a reduced budget for projects throughout 2016, with many projects being delayed indefinitely.

The seminar was the second professional development event held by Faithful+Gould, an integrated project and program management consultancy, and the Saudi Council of Engineers. The main topic that they discussed was how to encourage early engagement in projects as well as program management. Their best practices included remaining on budget and on time with projects.

The topics are growing in importance as there has been an ongoing decline in the price of crude oil causing serious negative effects on the kingdom’s economy and forcing it to cut budgets.

As a result, the kingdom has changed its constriction budget for the year, with many projects being reduced or postponed indefinitely.

"Offering professional development seminars in this economic climate equips project managers with the tools necessary to deliver projects under budget,” David Clifton, regional business development director at Faithful+Gould, said. “With the newly released PMO laws and the budget revisions on many projects, it is now more important than ever to explore the benefits of early program and project management and the critical role PMO processes play in delivering projects on time and under budget. Over 30 percent of the workforce is employed in the infrastructure and construction sectors and installing efficient business processes and applying accurate technical knowledge are two of the most important tools we have at our disposal right now to continue propelling the development of the kingdom further."

Organizations in this story

Saudi Council of Engineers Daqlah Riyadh, Qurtubah - 13244

Get notified the next time we write about Saudi Council of Engineers!
Top