Develop innovative products to improve industry - Oppong Nkrumah charges surveyors

The Minister of Works and Housing, Kojo Oppong Nkrumah, has charged the Ghana Institution of Surveyors to work closely with financial institutions and come up with innovative products that will improve the construction industry.

He said effective and sustainable project delivery hinges on sound financial strategies, and added that it was time to manage cost by integrating sustainability principles with opportunities in the digital frontier.

"Embracing a digital tool is now a necessity in the industry. This is a crucial intercession where cost efficiency, environmental stewardship and technological innovation must come together to redefine traditional practices in construction and quantity surveying.

"But as we discuss the necessity of cost management in construction, we must also look at the issue of cash flow management," Mr Oppong Nkrumah added.

He was speaking at the opening of a three-day conference by the Ghana Institution of Surveyors in Accra last Monday, on the theme: "Remaining the future of construction cost management: Sustainability and the digital frontier."

Participants include members of the Quantity Surveyors' International Cryogenic Engineering Conference (ICEC), and the Africa Association of Quantity Surveyors (AAQ), among others.

The minister said surveyors must not only ensure that projects started on time, but also see to their completion within budget and schedule.

He said collaboration with the financial sector would help mitigate financial risks and uncertainties and ensure that projects were delivered efficiently, on time and with minimal disruptions.

"Additionally, the concept of sustainability in construction is no longer a choice, it has now become the necessity," the minister said.

Mr Oppong Nkrumah also said that buildings and infrastructure were significant contributors to global carbon emissions and, therefore, urged surveyors to take bold steps to decarbonise the built environment.

"However, sustainability is not only about reducing emissions but also about making smart and cost-effective decisions throughout the life cycle of a building.

"Our discussion must, therefore, extend beyond the initial construction phase. We need to explore innovative ways to manage not only the upfront cost, but also the long-term operational and maintenance expenses of buildings," he said.

Significance

The President of the Ghana Institution of Surveyors, Surveyor Dr Anthony Arko Adjei, expressed the hope that the conference would broaden members’ professional horizon, foster international collaborations, facilitate knowledge and innovation in exchange, and enhance capacity-building and development.

He said as the world rapidly transformed, the construction industry was confronted with novel challenges and untapped potential, demanding innovative solutions and forward thinking strategies.

For his part, the President of the Africa Association of Quantity Surveyors, Mathew Ngulube, urged members to embrace the power of digital transformation, as well as cost-effective and environmental-friendly practices.

He said it was time to look at globally competitive methods in the industry that could be adapted locally.