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A Look at Construction Technology in 2018
How Construction Companies Can Profit from Digital Transformation
The Smartest Tool in the Shed
By Kylie Scott
November 5, 2018
Latest reports show growth in the Construction Industry, not only in the size of the workforce but also in productivity. According to a report published by StartupAUS, there has been a 2.8 per cent increase in productivity.
Where is this increase in productivity coming from, though? It seems construction technology is the answer.
When we mention construction technology, we are talking about a range of digital solutions on offer. These include Project Management Software, Internet of Things, Building Information Modeling, Artificial Intelligence, Virtual Reality and Unmanned Aerial Vehicles, just to name a few.
These technologies are focused on streamlining the design and building process. By learning and understanding what these products offer, the user will find substantial benefits resulting in time and cost savings. Moreover, they gain the ability to showcase your business as a leader in its field.
The mass adoption of internet-connected mobile devices has made it easy for everyone, from developers through to engineers to subcontractors, to be on board with the latest software and technologies. Mobile devices combined with construction technology has certainly made a positive impact on productivity on the job site.
In particular, project management software offers innovative systems and processes that ease the administrative workload of contractors, allowing more time for them to focus on their core tasks. Immediate access to data, combined with extensive reporting options, puts essential information into the hands of key personnel in real time.
Communication between general contractors and subcontractors becomes extremely efficient with the use of project management software by providing a constant flow of updates. Businesses are able to streamline the estimating process with subcontractors, regardless of location, and that, in itself, is a significant resource.
Using technology to enhance the traditional construction methods could potentially add $25 billion in value to Australia’s economy year-on-year over the next decade, according to Smart Company, which also found the construction industry will add a further 100,000 jobs within five years.
We are seeing a lot of emerging startups in the construction technology field, and it looks like exciting times ahead for the industry.
Currently, the construction industry generates over $300 billion in the Australian economy each year and has a projected annual growth rate of 2.5 per cent between 2017 and 2022.
With this significant growth on the agenda, and a notable amount of projects going over budget and schedule, the industry needs to make changes to ensure developments are completed successfully. We are not talking about cutting corners or rushing to complete a project ahead of schedule—we’re talking about facilitating smoother management of projects through the correct use of construction technology.
Just look at the $2.6 billion North Connex tunnel project in Sydney mentioned in the Digital Foundations report. It was found that live digital documents in a shared workspace reduced time spent on managing and sharing physical paperwork, pdfs and word documents by over 80 per cent, equating to 100,000 productivity hours. That is certainly an impressive result.
If you liked this article, here are few eBooks and webinars you may enjoy:
Benchmarking Productivity on the Jobsite
Choosing Profitable Projects
Go Lean: Cutting Waste & Increasing Productivity
material safety data
mobile construction technology
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