Buoyed by a 75% increase in US construction output between 2012 and 2015, the construction industry is growing at a breakneck pace. Globally, this amounts to a projected $15T market by 2025 (yes, trillion). Rapid growth and increasingly complex building requirements are compelling construction companies to push even harder to optimize operational efficiencies to maximize the value of each project.
Here are five levers you can pull to optimize operational efficiencies in your construction business.
1. Manage your processes with flexible systems. Unless your processes never change (they will) and you know exactly what you’ll need your applications to do (you don’t), chances are you need an easy to use software platform where you can rapidly develop and iterate on applications that you can quickly customize on the fly. This applies to the ways you provide insight into variable project costs, compliance, safety protocols and more. Buying an ill-fitting solution that can’t adapt to your needs may end up costing you more in the long run, even if it seems less expensive today.
2. Centralize your information. Keep your operations and teams aligned by making certain you’re all reading from the same up to date playbook. This can help you avoid misinformed conversations by harmonizing and centralizing your data in a single source of truth available across different departments and a geographically dispersed workforce. Facts are facts, regardless of what department you’re in or where you are in the world, and you and your team can focus on more important things, like growing your construction business.
3. Ensure 24/7 access to users. Opportunities don’t stop when the sun goes down or when you leave work for the day, and neither do some of your team members. Your operational data should be readily available around the clock on any device to ensure that team members can constantly connect with others both in the field and running the back-office. Mobile-first technologies enable you and your team to access your data anytime, anywhere, on any device.
4. Improve visibility into your processes and data. For folks in the field, old data can be worse than yesterday’s news; it’s just flat out wrong. And operating on old data can lead to costly, time-consuming mistakes. Enable your teams with real-time visibility into project schedules, field reports and subcontractor costs by configuring workflows to exact project needs. Your data is the lifeblood of your operation, and having all data in one place and available around the clock is much less valuable if that data isn’t as fresh as possible.
5. Provide actionable insights. Last and certainly not least, data may as well be a foreign language if it isn’t distilled into digestible content. Provide in-depth reporting on project-specific information with the right amount of detail, surfacing only the information that matters most to the people who need to see it. Enable your team members (and you!) to make better, quicker decisions that will make them more agile and empower them to do more, faster
Interested in learning more? Join Engineering News-Record editors and Diversakore’s Josh Weeman (CTO) and Marc Rahimzadeh (CEO) on our upcoming June 25 webinar to discuss practical tools and methods that Diversakore uses to connect people, processes and technologies to optimize operational efficiencies in the construction industry.