According to their report there is a lot to improve:
Examples of innovative firms and regions suggest that acting in seven areas simultaneously could boost productivity by 50 to 60 percent.
Report – McKinsey Global Institute: Reinventing construction through a productivity revolution, by Filipe Barbosa, Jonathan Woetzel, Jan Mischke, Maria Joao Ribeirinho, Mukund Sridhar, Matthew Parsons, Nick Bertram, and Stephanie Brown (February 2017).
I think the report has a lot of interesting points – but its weakness is that it is too focused on looking at the surface – to change a major business field that has been around for generations, you have to go below the surface and study more than numbers (culture of change etc). I would recommend even mighty McKinsey to take a bite at this article in Business Insider: Swedish expert reveals how Google and Microsoft are about to pounce on this huge traditional industry.
Thanks to Aarni Heiskanen.