An often-heard term at Continuum Advisory Group is “the Utility of the Future”. This most often describes a shift to new or emerging technology that will define a new era of efficient operation. It can change how construction takes place and how companies operate.
While physical assets are critical, there’s another more important aspect of corporate operations at stake, management of the way we run the business. We believe that a “Utility of the Future” will change management practices as much, if not more, than operational practices.
Consider the current gas utility environment: The Industry is subject to increased regulation, deteriorating infrastructure, and an aging experienced workforce that serve an industry that young people are not attracted to. There are many moving parts and managing those parts will be the major challenge – or opportunity.
Order Takers or Value Creators? Your Engineering, Construction, and Facilities (E/C/F) Department
Your facility is sort of like a favorite jacket. You wear it every day, so often that you forget it’s there. You walk through rain and wind, fixed on your phone or a friend or whatever else, and it’s your silent protector from the elements.
But then there’s a hole in it. Suddenly, you pay attention.
Your E/C/F department, when it’s functioning properly, may seem like it’s barely there at all. But imagine if that department played a more active, strategic role in your company. Imagine if you extracted all of its potential. Imagine if they stopped just taking orders and started sitting in your executive team meetings creating value for your company and shareholders. What could happen?
That proposition is the subject of a new, joint study between Continuum Advisory Group and the Construction Industry Institute (CII).