Nearly 90 years ago, the Empire State Building was completed ahead of time and under budget. Now, the average large construction project is 20 months behind schedule and 80% over budget. What happened? (2:09) How complexity contributes to cost (5:07) Measuring inefficiency in construction (7:22) How construction can learn from the tech sector (11:40) How unique contract structures can encourage collaboration (16:26) The importance of bringing down cost in operating a building To learn more about The Future of Cities, visit FutureOfCities.com. This podcast is presented by Katerra. Better, faster, lower cost building projects are long overdue. Katerra is applying technology to optimize every aspect of building design and construction. To learn more about how you can join their growing team, visit katerra.com.