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Never Waste A Good Crisis
Never Waste a Good Crisis, also known as the Wolstenholme Report, is a 2009 report written by Andrew Wolstenholme and commissioned by Constructing Excellence. Wolstenholme analysed the British construction industry's performance against the objectives set out in the 1998 Egan Report. His assessment was pessimistic, noting a failure to meet targets in almost all areas bar profitability. Wolstenholme outlined several problems prevalent in the industry and measures that might be taken to resolve them, calling on the industry to use the Great Recession as an opportunity to change its performance. Background Constructing Excellence, a UK construction industry organisation, commissioned Wolstenholme to assess the progress made against the recommendations of the 1998 Egan Report. There was a perception that the industry was continuing to underperform - in 2009 there was only a 50% chance of a project being completed on time or on budget. The Wolstenholme Report was published on 30 Novemb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Wolstenholme
Andrew William Wolstenholme (born 5 March 1959) is an English civil engineer, and group technical director of Laing O'Rourke. From 2011 to 2018, he was the chief executive of Crossrail. Early life Andrew Wolstenholme was born in London, the son of an architect mother. He went to Sussex House School and then Malvern College. He graduated from the University of Southampton in 1981 with a first class degree in civil engineering. Career Army After university, Wolstenholme served with the British Army for three years as a commissioned officer with the Queen's Royal Irish Hussars. Arup Wolstenholme joined Arup Group in 1987 as a bridge designer. BAA Wolstenholme joined BAA in 1997 as construction director of the Heathrow Express Rail Link. He became programme director of the £4.3bn Heathrow Terminal 5 (T5) in 2002. Construction of T5, designed and engineered by Arup, began in July 2002. While at BAA, Wolstenholme chaired a Constructing Excellence group which produced a repo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constructing Excellence
Constructing Excellence is a United Kingdom construction industry membership organisation created in 2003, the only such which draws its member organisations from across the industry supply chain, ranging from clients, through contractors and consultants, to suppliers and manufacturers of building materials and components. Constructing Excellence attempts to apply the reforms recommended in the 1994 Latham and 1998 Egan Reports, having absorbed several bodies established following those reports. In August 2016, Constructing Excellence became part of BRE, but retains its identity and core purposes. History Prior to its BRE merger, Constructing Excellence was itself the result of over a decade of UK construction industry reform initiatives. Its roots can be traced back to the establishment of the Construction Industry Board (a forerunner of the Strategic Forum for Construction), following the recommendations of the 1994 Latham Report,Latham, M. (1994), ''Constructing the Team'', Lon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Egan Report
The Egan Report, titled ''Rethinking Construction'', was an influential report on the UK construction industry produced by an industry task force chaired by Sir John Egan, published in November 1998.Egan, J. (1998) ''Rethinking Construction: Report of the Construction Task Force'', London: HMSO. (Copy of report available on Constructing Excellence websitereport Accessed: 8 September 2014.) Together with the Latham Report, ''Constructing the Team'', produced four years earlier, it did much to drive efficiency improvements in UK construction industry practice during the early years of the 21st century.Ward, Don and Crane, Alan (2003) "The story so far" in Jones, David, Savage, David and Westgate Rona, ''Partnering and Collaborative Working'' (Informa Professional, London), pp 1-26. Historical context While the 1994 Latham Report had stimulated various industry initiatives, government action was deemed necessary to get the industry to make the necessary changes. In October 1997, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Recession
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Latham
Sir Michael Anthony Latham DL HonFREng Royal Academy of Engineering. (20 November 1942 – 2 November 2017) was a British Conservative Member of Parliament. Political career Latham was elected to the Churchill Ward on Westminster City Council in 1968. He did not stand at the subsequent election in 1971, but became the Conservative MP for Melton in February 1974. In 1983, following boundary changes, was elected to represent Rutland and Melton, before standing down in 1992. After Parliament In 1994, he wrote the influential joint government and industry report on the UK construction industry, 'Constructing the Team' (known as the Latham Report). In it he advocated partnerships within the fragmented and highly contentious construction industry. More significantly, he made many recommendations as to how conflict could be minimised within the industry. Such was the nature and extent of these recommendations that Mr Justice Jackson later described the report as ''"the whirlwi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Latham Report
The Latham Report, titled ''Constructing the Team'', was an influential report written by Sir Michael Latham, published in July 1994. Latham was commissioned by the United Kingdom government and industry organisations to review procurement and contractual arrangements in the UK construction industry, aiming to tackle controversial issues facing the industry during a period of lapse in growth as a whole. Historical context The Latham Report was not the first report to identify systemic failings in the UK construction industry; previous reports dating back to the 1960s had identified similar issues and made similar recommendations.Ward, Don and Crane, Alan (2003) "The story so far" in Jones, David, Savage, David and Westgate Rona, ''Partnering and Collaborative Working'' (Informa Professional, London), pp. 1-26. However, this report did gain industry and government support. The report Latham identified industry inefficiencies, condemning existing industry practices as 'adversarial', ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Egan (industrialist)
Sir John Leopold Egan (born 7 November 1939) is a British industrialist, associated with businesses in the automotive, airports, construction and water industries. He was chief executive and chairman of Jaguar Cars from 1980 to 1990 and chairman of Jaguar plc from 1985 to 1990, and then served as chief executive of BAA from 1990 to 1999. He is also notable for chairing the construction industry task force that produced the 1998 Egan Report (''Rethinking Construction'') and the follow-up report, ''Accelerating Change'', in 2002. During 2004, undertook the ''Egan Review of Skills for Sustainable Communities'' for the Blair Government. In 2004, after completing two years as president of the Confederation of British Industry, he was appointed chairman of Severn Trent. Career John Egan was born in Rawtenstall, Lancashire, the son of a garage owner. The family moved to Coventry where he went to Bablake School. He studied petroleum engineering at Imperial College London and subseq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nick Raynsford
Wyvill Richard Nicolls Raynsford (born 28 January 1945), known as Nick Raynsford, is a British politician who served as a government minister from 1997 to 2005. A member of the Labour Party, he was Member of Parliament (MP) for Greenwich and Woolwich, formerly Greenwich, from 1992 to 2015, having previously been MP for Fulham from 1986 to 1987. Raised in Northamptonshire, Raynsford was educated at Repton School. He studied History at Sidney Sussex College, Cambridge, where he was involved in opposing the Vietnam War. After serving as a councillor in Hammersmith and Fulham and director of the Shelter Housing Aid Centre, he was elected at a 1986 by-election and served as an MP for a year until losing his seat at the subsequent general election. Raynsford returned to Parliament at the 1992 general election and joined the government under the premiership of Tony Blair; his roles included Minister of State for Housing and Planning, Minister for London and Minister of State for Lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Early 1990s Recession
The early 1990s recession describes the period of economic downturn affecting much of the Western world in the early 1990s. The impacts of the recession contributed in part to the 1992 U.S. presidential election victory of Bill Clinton over incumbent president George H. W. Bush. The recession also included the resignation of Canadian prime minister Brian Mulroney, the reduction of active companies by 15% and unemployment up to nearly 20% in Finland, civil disturbances in the United Kingdom and the growth of discount stores in the United States and beyond. Primary factors believed to have led to the recession include the following: restrictive monetary policy enacted by central banks, primarily in response to inflation concerns, the loss of consumer and business confidence as a result of the 1990 oil price shock, the end of the Cold War and the subsequent decrease in defense spending, the savings and loan crisis and a slump in office construction resulting from overbuilding during ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Whole-life Cost
Whole-life cost is the total cost of ownership over the life of an asset. The concept is also known as life-cycle cost (LCC) or lifetime cost, and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to calculate and also the environmental and social costs which are more difficult to quantify and assign numerical values. Typical areas of expenditure which are included in calculating the whole-life cost include planning, design, construction and acquisition, operations, maintenance, renewal and rehabilitation, depreciation and cost of finance and replacement or disposal. Financial Whole-life cost analysis is often used for option evaluation when procuring new assets and for decision-making to minimize whole-life costs throughout the life of an asset. It is also applied to comparisons of actual costs for similar asset types and as feedback into future design and acquisition decisions. The prima ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Industry Of The United Kingdom
The construction industry of the United Kingdom is one of the major industry sectors in the UK economy, contributing about 6% of UK gross value added in 2019. In 2018, it was, by GVA, the sixth biggest construction sector in the world. Scale and composition Before the COVID-19 pandemic, the value of construction new work peaked at £119,087 million in 2019, dropping to £99,651 million in 2020. Of this total, new housing comprised £37,755 million of new work, infrastructure £22,517 million, and private commercial building £24,614 million. Public sector work (housing, infrastructure, other) accounted for 26% by value of new work in 2020. The construction sector employed around 2.1 million workers (1.4 million employed in just over 342,000 VAT/PAYE-registered businesses, plus 727,000 self-employed) in Great Britain in 2020, with a high proportion of small businesses: just over one million small/medium-sized businesses, mainly self-employed individuals, worked in the sector in 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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