Business of Construction Technology

The construction industry is changing. Don’t get left behind

There are also strategic, systematic ways to pursue implementing new construction technology that can help take the pain out of the transition.  And while there is fear, real or imagined, that will be a difficult and lengthy process, on the other hand, there are also plenty of opportunity.

The bottom line is, whether you are ready to change or not, 3 truths are self-evident:

 

1. Construction companies are taking on more risk

Research shows that embracing technology and innovation is an excellent way to improve results as projects become more complex: “Projects are becoming bigger, bolder and more complex – and with complexity comes risk,” KPMG’s Armstrong said. “Innovations like remote monitoring, automation and visualization have enormous potential to speed up project progress, improve accuracy and safety.”As projects around the world become more challenging, so does the inherent risk. Even small projects are becoming more complex, and demand greater innovation and planning than ever before. New materials, new regulations, and the drive for greener building propel an ever-changing landscape that requires contractors to embrace technology to anticipate and mitigate risk if they want to be successful.

2. Owners demand more

Your construction firm might not want to adopt new technologies, but your clients will. When we talk to our customers, one thing we hear is that owners want more transparency, more control, and more involvement in their projects than ever before. They also expect their projects to be managed to tighter budgets and completed on faster timelines. 

Owners are starting to require construction firms to give them the data-rich 3D models used in construction, so they can use them for operations and maintenance. These 3D models were populated with construction data such as equipment information from the commissioning process. Using BIM 360 Field, this data is captured in the field on mobile devices, and links directly back to the model. The user doesn’t even need to be aware they are updating the 3D model; the user is just performing a task in a form on Tablet

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Why you should become a construction technology company

New types of construction technology are being introduced in the market with increasing speed. Drones, robotics, 3D printing, BIM, cloud file management–these are all technologies that are having a major impact on the firms that are making the investment in their future. Reliance on these new technologies will only increase with time. It’s time to get on board, or risk going the way of the fax machine.

It’s your choice. But if you’re willing to embrace the technology and reframe your company around it, there are significant benefits to be had.

Improve client perception

While the construction industry may be largely stuck in the past, the rest of the world is not. Clients expect projects to be run in a professional, orderly manner, and they want to have a hand in what’s going on. They know what technologies are available, and they notice when a contractor is not using the most productive and efficient technologies for the job.

By becoming a tech savvy company, you’ll be perceived as more  of your professional, capable, and successful in the eyes of your clients. By getting ahead of the technology curve, your clients can come to see you as consultant rather than simply taking orders and seeing them through.  and even as a savvy consultant.

Giving owners the option to use your trusty BIM files at handover, or even running O&M yourself puts you in a strong position to maintain the owner-client relationship beyond handover.

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