Building Owners, This is Your Year

ThinkstockPhotos 483808004By Tony Sinisi 

Even today, in the age of connectivity and a technology solution for everything, many building owners still rely on manual e-mails, spreadsheets and PDFs to manage construction projects. This isn’t all that surprising: historically, the construction industry has been slow to adopt new technology. In fact, according to a recent KPMG survey, two-thirds of the 200-plus construction executives surveyed said they do not use advanced data analytics to monitor project-related estimation and performance.  However, as many are discovering, this obsolete method isn’t working.

Building owners have historically relied on their contractors, including engineers, builders and architects, to keep their projects on time, budget and at a high-performance quality. However, these positive outcomes don’t always go to plan as the disparate parties experience friction while collaborating and sharing data. Instead, they each have separate technologies and reporting to complete their part of the project. As a result, research conducted by Dodge Data & Analytics in collaboration with e-Builder shows that over the last three years, 85 percent of capital programs surveyed have exceeded budget and 92 percent of projects have exceeded schedule. As a result, building owners have realized that they need to play a greater role in ensuring the successful and timely completion of their projects. As such, more and more owners will adopt project management information systems (PMIS) to help deliver projects on-time and within budget in 2017.

When we reflect on 2017, experts within the industry will refer to it as the year of the owner. Owners will no longer rely on the tools contractors, engineers and architects are using to manage their projects – rather, owners will require PMIS technology that truly supports the entire project lifecycle for owners rather than just construction phase. The owner community requires technology that can easily collaborate with the tech used by contractors, helping them to understand and manage complex datasets and tools like Building Information Modeling (BIM) and capital planning. Owners require a tool that enables them to get real-time feedback on where a project stands, especially as it transitions between planning, design, procurement and construction.

Those who choose innovative technology will increase project performance, efficiency and budget because they’ll have a more active role in the management of the project from start to finish. Rather than adopting technology specific to other industries, or waiting for project updates, they will have relevant information and reports at their own fingertips.

In the upcoming year, owners will not just adopt the latest-and-greatest trends (drones to help with mapping, augmented reality, 3D printing, etc.), but rather, the industry will see an influx in the adoption of technology that is guaranteed to truly assist with project performance. Technology that allows for real-time mobile collaboration, the integration of BIM, and advanced project planning tools, will all be on the top of owner’s budgets as they plan for the new year. This adoption will span across owners in all industries including government, healthcare, education and commercial construction. The time to adopt construction technology is now – your organization will thank you. 

Tony Sinisi PhotoTony Sinisi is the Director, Product Marketing at e-Builder. He can be reached at [email protected].

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