Connected construction sites are more optimized to deliver in a timely and high-quality manner, providing real-time insights to project managers. Digitization within the construction sector also improves collaboration between stakeholders, thereby helping reduce the formation of bottlenecks within projects. The broader use of lean construction practices has the potential to help cut some cost areas by 15%, which is why many developers are adopting technology to improve connectivity.
In terms of ROI maximization, connected construction solutions provide in-depth insights on daily financial consumption, trends forecasting, revenue projections, and completion schedules. The leading project management tools, such as Zepth, provide integrated dashboards for the comprehensive oversight of all projects. These connected construction solutions ensure that developers can transform processes while improving their innovation focus and collaboration.
Leveraging Connected Ecosystems for Greater Profitability
A key benefit of adopting connected construction solutions is the boost in profitability through improved performance and cost reduction. With the engineering and construction industry set to grow around 3% each year, it is important to boost margins to sustain growth long-term. There is also a greater impetus to adopt project management solutions, construction document management software, and ERP systems to help connect workflows for better output.
Connected technology solutions are also essential to integrating various stakeholders across the ecosystem. From contractors to public agencies, there are several entities that can provide greater value when connected to a centralized project management solution. They can help integrate fragmented processes through better collaboration tools, data sharing solutions, and project information access management tools.
Connected construction tools improving productivity
Developers can focus on adopting several types of solutions for helping improve performance through connected workflows. Through the right construction management tool, developers can align resources, assets, and teams, to produce better results long-term. The following types of connected solutions are being leveraged by global developers for ROI maximization and improved productivity.
Robotics solutions – Drones, site robots, and autonomous machines are revolutionizing construction practices while streamlining much of the site work being performed daily.
AI in construction – The benefits of automation are multi-fold, enabling teams to be more efficient with their time and making repetitive resource-intensive tasks more streamlined.
5D BIM – The growth of BIM adoption at around 65-70% is a hallmark example of the industry’s focus on technology to optimize planning. Developers are leveraging BIM to improve connectivity within the design.
IoT & sensors – The use of IoT is critical to connecting site activities within an integrated management tool. From tracking safety & quality issues to understanding equipment health, IoT is vital to project success.
Improved monitoring through connected construction
Projects can experience significant delays and overruns through their course, which is why it is important to leverage some form of connected solution to introduce efficiencies. Monitoring tools provide greater visibility into site activity, ensuring that workers comply with outlined specifications better. This also includes actively seeking risk areas where potential bottlenecks can arise, which is important to improving ROI.
From pouring the right concrete to developing the right formwork, there are several stages that project managers need to monitor to ensure better control. This enables a reduction in wastage, costs due to delays, and lack of connected execution. Through the introduction of technology in project management in the construction industry, firms can monitor daily outflows, processes, and productivity levels better.
Digital innovation driving the future of construction
With developers continuing to innovate to drive greater market value, there is a stronger need for the right technology solution to streamline operations. This is driving the future of the industry long-term, as project managers renew their focus on improving connectivity across sites. Additionally, developers are also adopting technology solutions that actively improve productivity, which is globally at around 1% compared to between 3-4% for other industries.
Construction firms are also experimenting with AI and data analytics solutions to maximize ROI and improve site productivity. The output levels of various teams, vendors, and contractors can be actively analyzed through the right technology solutions, which is why developers are adopting connected project management tools. These tools are also helping companies determine the right materials, manpower fulfilment strategies, and equipment, to ensure that projects are completed within schedules.