Civil Engineering Reference
In-Depth Information
The next chapter introduces some of the economic theory and high-
lights some of the market dynamics that act upon the construction
industry. The success and growth of the construction sector often relies
on the success and growth of the economy in general. The PSE approach
was initially developed to respond to a market that was operating in an
extremely buoyant global economy. When the recession began in 2007,
during the delivery of the programme, the attention to detail and the
systems that were developed to avoid the risks of a volatile marketplace
enabled the teams working on the London 2012 Games to avoid the
risks associated with the downturns in the economy, in particular the
avoidance of supply chain failure. For this reason the authors feel it
necessary to give some economic context, as it was this sensitivity to
the economic environment that shaped the development of the approach
now known as Purchase and Supplier Engineering (PSE).
Reference
Wolstenholme, A., (2009)
Never Waste a Good Crisis: A Review of Progress since
Rethinking Construction and Thoughts for the Future
, London, Constructing Ex-
cellence. http://www.constructingexcellence.org.uk/pdf/Wolstenholme_Report_Oct_
2009.pdf.
