In every industry, technological advancements are helping companies to be more efficient and save money. Construction is no exception. According to the 2016 report on the results of a global PwC survey, Industry 4.0: Building the Digital Enterprise, respondents anticipate a return on their investment in technology over the next five years. Participants in all industry sectors expect to realize a 2.9 percent increase per annum in revenue. Engineering and construction companies anticipate a revenue gain of 2.7 percent per annum. On average, companies across all sectors expect to reduce costs by 3.6 percent annually.
Construction Software and Real-Time Communications Connect for Lean, Agile, Efficient and Profitable Projects The benefits of real-time communication among laptops, tablets, smartphones, in-car Wi-Fi and construction software make vast improvements in collaboration, cost, speed, accuracy and productivity
The speed of digital innovation is breathtaking. Mobile communications and software for construction management have revolutionized the business for building contractors. Today, project managers are linked to the office from their air-conditioned, Wi-Fi hotspot crew cab with a laptop and smartphone. General contractors, subcontractors and crews can see revised plans and discuss the construction tasks at hand, over the phone, all on the same page, whether it is a PDF on a tablet, laptop or large smartphone. Continue »
It’s hard to go to a construction tradeshow or read an analyst report without hearing about a new drone company or how drones are going to eventually impact construction. Today, advanced drone hardware is available at low prices, and U.S. regulation has enabled commercial drone use to be easy for companies and service providers to adopt. Most importantly, companies have built custom software solutions to suit the exact needs of construction companies.
Stay on Track With Custom Project Execution Plans PEPs Keep Construction Projects Organized and Increase Communication Among All Players
When asking contractors about the keys to completing even the most challenging projects, a common theme often emerges: Excellent communication among all parties is essential. To facilitate the communication process, many contractors use a project execution plan (PEP), which is a detailed document for all stakeholders communicating project objectives and how the objectives will be accomplished.
Contractors have placed increasing importance on developing a world-class safety culture in their organizations for their jobsite crews. According to a 2016 Dodge Data & Analytics SmartMarket Report, 85 percent of the survey respondents felt jobsite worker involvement is essential to a building a high class safety program—up nearly 20 percentage points from the 2012 survey.”¹ Providing these workers with the tools and training they need to report on incidents in a timely and accurate manner is crucial to maintaining a culture of safety. Continue »
The conventional wisdom among construction executives is that surety bonds are a necessary evil. But surety bonds can be a blessing in disguise when a company fails on a construction project.
Sustainable design and construction is a rapidly evolving and growing sector of the building industry. However, it presents new challenges and legal considerations for owners, architects and contractors.
The construction process is a highly evolved system of joint ventures. From investors to financial institutions, architects to engineers and subcontractors to suppliers, multiple parties come together to contribute to the success of a project. Strategic joint ventures, in effect, are a much larger adaptation of this dynamic. Strategic joint ventures involve the development of relationships with other construction firms that bring to the table the opportunity to access a greater variety of projects.
Branding a joint venture should be more than just slamming two or three company names together. A strong brand demonstrates the team’s strength and unity—better positioning the partnership to selection committees. A disjointed brand demonstrates potential problems that could occur down the road.
For any sized firm, participating in a joint venture can be invaluable for growing revenues, expanding portfolios, and gaining access to new customers while also sharing costs and risk. The chances of success increase with strategic planning and thorough, open communication between parties well before the formal selection process begins. These tips apply to multi-firm agreements as well.
Imagine your job takes place outside in a wide, flat field. Your colleagues wear brightly colored shirts for high visibility and head protection. Surrounding you are numerous noisemaking mechanisms meant to attract your attention. Sprinkled in are officials that are present to regulate and ensure safety. Now, guess what this job is. It isn’t a construction manager, but an NFL head coach. Understandably, it is easy to see how the two could be confused.
A walk through any construction site reveals the significant, transformative impact of today’s technology. Mobile has become ubiquitous and mandatory. Continue »