The construction industry depends on people, processes, and technology, yet firms have been slow to adopt the latter. One reason for the slow adoption is that construction has been waiting for technology providers to catch up to the industry. Another reason is that many companies aren’t aware of what solutions are currently available to them.
The benefits technology offers organizations, whether they’re just starting to use digital tools or have been using software for years, is huge.
At a time when projects are growing increasingly complex, climbing building costs and a rapidly shrinking workforce, technology is not a nice-to-have but a must-have.
“I think it’s important for the construction industry to continue to adopt new technology because construction, like many industries today, is faced with a severe labor shortage,” said Rob Krueger, Vice President of Operations at Fessler & Bowman Krueger. “One of the things that technology is doing today is allowing us to fit more people into those professional roles who have less experience or a background in commercial construction.”
Effective People and Process Management
Managing people and processes in construction is challenging for a number of reasons: labor is a hard-to-manage asset, teams can often rely on time-consuming manual processes and organizations often lack visibility into financial health and budgets. These obstacles can lead to wasted time and money, making it difficult to remain efficient. However, there are some steps to effectively manage project costs, including:
1. Know that real-time financial insights are necessary for keeping costs in check and gaining a competitive edge. Clients increasingly demand real-time, actionable data, and construction owners must be able to provide it.
2. Practice real cost management by establishing the basis of an estimate and applying labor rates, materials, and performance factors, and transitioning from a reactive to a proactive cost management approach.
3. Set up the business for real-time insights by using a combination of people, processes and technology, keeping all information in one place and providing clear communication loops to internal and external teams.
4. Benchmark cost management basics to understand where the business currently stands. These numbers must be precise and accurate so owners and contractors have a realistic picture of what’s happening.
5. Create a team culture of accountability and provide construction teams with the right processes and tools to meet and exceed expectations.
Key Benefits of Cost-Effective Construction Techniques
The construction industry is constantly evolving, and one of the biggest drivers of change is technology. Technology has brought about many benefits to the industry. From automating tasks to real-time collaboration to higher safety and profitability, new technologies offer vast improvements that were previously unattainable.
One major advantage of technology in construction is increased efficiency. Technology has revolutionized the way construction companies operate, with tools like project management software, drones, and Building Information Modeling (or BIM) helping to streamline workflows and automate tasks.
Using construction technology is the best option for contractors to handle more work efficiently. It enables teams to do as much of their best work as they can in the most efficient manner possible—without the need to hire more people and overload staff. When teams can achieve the same work in a shorter period of time and with better quality, the technology more than pays for itself.
Replace Manual Processes
Companies with poor communication make costly errors and miss out on important opportunities, and it’s more vital than ever to be on top of real-time conditions. This can be done through automation, such as auto-generated reports that provide only necessary information and prevent people’s inboxes from overflowing.
Technology has also brought about many advances in construction safety, with tools like wearables, exoskeletons and sensors helping to monitor workers’ health and safety in real time. It can even be easier to monitor construction sites remotely, reducing the need for workers to be physically present in potentially hazardous areas.
Gain Better Visibility
Solutions like Procore provide contractors with a single source of truth through which all information is channeled and accessible in real time to every project stakeholder. This removes the need for scattered and disparate handwritten notes, spreadsheets, forms, and documents. Instead, a contractor can trace an entire project’s workflow from end to end.
Ultimately, this enables better visibility and reduces inefficiencies in construction, as teams can analyze data much more easily.
It’s no secret that the construction industry has had a slower start when it comes to adopting new technology. But technology is crucial for almost every aspect of work in construction, from collaboration and safety to process improvements and project visibility. With efficient and cost-effective tech and processes and the right people, construction companies can keep up with the pace of change.
Request a demo today to find out how Procore can help your construction business.
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A solid business foundation is critical for businesses seeking to succeed in today’s marketplace. Such a foundation encompasses three key elements: people, processes and technology.
First and foremost, businesses must ensure they have the right people in place. The best employees will share the company’s vision and culture, and have the skills necessary to make that vision a reality. Great employees are passionate about their work, and eager for learning and growth opportunities. They are highly organized, work well in teams and possess excellent communication skills. It’s also important for businesses to practice fair hiring practices and maintain an inclusive workplace.
Second, businesses should establish the right processes for their operations. These processes should be streamlined, efficient and able to scale efficiently with the organization. Moreover, they should be in sync with the vision and objectives set by the business. By utilizing processes that are tailored to the organization, key activities and functions are better coordinated throughout the organization.
Lastly, businesses must also tap into the potential of technology. Leveraging the latest advancements in technology provides organizations with the capability to streamline their processes, better serve their customers, collaborate with business partners and have faster access to data and insights. Moreover, technology is playing an increasingly important role in automating key business functions, saving time and resources while increasing accuracy and efficiency.
For businesses to remain competitive and successful in today’s marketplace, they must focus on building a solid business foundation by leveraging the power of people, processes and technology. Only then can they unlock the potential of their organization and realize the full potential of their operations.
