November 19th, 2019

An alarming number of construction projects finish over budget and behind schedule. One of the main reasons for this is a lack of connected information. According to studies, the construction industry is second to last when it comes to digitalization.

How can we change this? See how the construction industry is about to be transformed with intelligent, end-to-end, interconnected solutions that break down siloes and provide unprecedented insight to project stakeholders and decision makers.

 

 

Transcript

The building construction industry has a lot of challenges today. An alarming amount of projects come in over schedule, over budget and there just doesn’t ever seem to be a way to really, uh, get that under control.

We typically have to pull information from multiple systems, multiple departments that’s in different formats, um, that are disparate. So it takes a lot of time to pull all that information together to understand the true status of the project. And by the time that happens, you know, the status of the projects change because it takes so long and it’s manual and also very error prone.

So there’s a big disconnect. Um, in many cases you don’t know, you know, what got done until you get an invoice for the work. It’s a gap between the information that happens in the office actually getting deployed into the field. You know, a lot of times they’re still paper drawings in use and people get attached to their drawings because they mark on them, they roll them up and they put them under their arm, they don’t want to let them go and they don’t get the new information. So they’re actually building off of old information. Uh, this was more common than we like to see or like to admit in construction.

So how can we change this? How can we learn from the industrial world?

An end-to-end interconnected construction management solution can really help to address a lot of these issues because everybody is working in the same interconnected environment. And that simply means that everybody has access to the right information that they need to do their jobs. Not all the information, but the right information.

So it’s really important to have an intelligent, interconnected solution that knows who you are and what you should be doing and when you should be doing it. So you just see that information that’s the most relevant to you and what you need to get done and in the timeframe.

For project managers it’s really essential that they have the true visibility into the project. And why that’s so important is that these projects that really come off the tracks because you just don’t know or don’t have that unprecedented insight into what’s going on. That’s the value of the interconnected solution is the project manager that’s watching the financials, watching the schedule, watching the change orders can really see what’s going on in a near real time fashion.

So they can go in, they can look and they can drill into the details and actually find out the root causes of problems way earlier in the process so they can be addressed earlier in their process. So they don’t turn into these huge problems downstream that potentially involve multiple trades or potentially all the trades in the project. And it can really make the difference between a project being successful and being a really big failure.

So the construction industry, um, I think is right for a lot of change. I think digitalization is going to be a huge trend moving forward. As a matter of fact, if you look at the research, the construction industry is second to last in the move to digitalization. So there’s a ton of opportunity for improvement in productivity.

But digitalization is really just the first step because you have to have the interconnected solution to provide the communications, right? So if you still have digital silos of information, you haven’t solved all your problems, you’ve solved silos or problems, but you haven’t actually brought the information together. And that’s what provides the insight and the ability to better control your projects, the schedule and the cost. So I think that’s really key.

So we believe that Hexagon is in a unique position to help transform the construction industry. We have technology for design, for pre-construction planning, and for execution, including laser sensors, right? So we have all the pieces to really, um, impact change in construction. That allows us to, um, prepare for construction, plan better so we have better results, deliver it to the field in a digital way via mobile devices and collect that progress directly in the field, in the interconnected solution. So all of our project metrics are automatically updated to provide that insight. Um, so this is happening, this is what we’re bringing to market now.

These interconnected solutions are just going to become a must because I believe that the thought leaders in the industry are going to start to adopt those and that’s going to put pressure on everybody else in the industry and those that don’t adopt and evolve and move forward, you know, they won’t be able to survive in the industry.