It’s no surprise to most in the construction industry that we are collectively slow to adopt and successfully implement new technologies. However, things are starting to change, especially as it relates to project management and how we are beginning to leverage new tools and technologies to shape the future of our projects.
When we talk about tools and technologies for managing projects, we’re primary talking about systems that can improve collaboration, allow us to better organize and more efficiently access information, and take advantage of new AI technologies to better predict outcomes and control success. When used to their full potential, cycle times and costs are reduced, and quality is improved.
When initiating a project, establishing a single source of truth for each data point becomes crucial in today’s technology-driven environment. Throughout the entire development cycle, project tools, AI technologies, data capture frameworks, and processes should all align around this. Achieving consensus on the technology stack is essential, regardless of the project or program’s scale, as it ensures holistic agreement on the frameworks and implementation plan for project management information systems (PMISs). Experience has shown that clients and owners who adopt this mindset early on in their programs and projects are more likely to complete them within budget and on schedule. Once things are in motion, it becomes increasingly challenging to migrate data, attitudes, and systems successfully.
For developers and clients embarking upon a new project, it is key to spend time upfront on data organization and management and setting up the needed tools and templates. Leveraging historical data holds significant value in enhancing the ability to predict the future and achieve project success. Involving the entire development team from the outset will help establish agreement, adoption, and understanding of the framework being implemented. This early-on team approach is especially critical when utilizing the level of technology available to today’s project stakeholders.
Defining the ecosystem is paramount. While the ecosystem can be singular, it is essential to determine what it encompasses. Identifying the necessary measuring tools and then allowing the development team to provide educated recommendations on the best approach is vital.
Utilizing available technology and AI is becoming increasingly critical to reduce costs, mitigate risks, and improve the likelihood of successful outcomes in today’s challenging environment.
Both predictive and generative AI have great potential to improve the ways in which we analyze and represent data, as well as model outcomes based on changing variables. It will be important to continue to look for opportunities to add value to clients by leveraging these new technologies as new AI-assisted tools are developed.
For example, when faced with a compressed project timeline and a preconstruction team that needs to validate, combine, and analyze submitted cost estimates, staffing, and key quantity responses quickly, today’s technology allows development teams to create an AI-based estimate analysis platform to do the job in a fraction of the time that traditional cost analysis takes. By successfully implementing today’s new AI technology solutions, teams can create a data intake platform and reporting suite that automatically compares vendor submissions to vast historical data and program averages. This type of platform enables clients to focus their conversations with vendors on the outliers identified by the tool, thus spending much less time grappling with their own data. As the building program expands, an AI-backed platform also allows for swift data entry and the ongoing inflow of additional project data which improves leadership’s insights.
Incorporating data literacy and technology adoption into construction programs may seem overwhelming at first, but the real-time analytics and collaboration capabilities will change the project landscape given the specialized tools available today.
Some projects will have very sophisticated organizations behind them, perhaps in the software or AI space themselves even, and they already have all the tools and specific KPIs outlined. When that is the case, the development team will likely be the ones that are adapting to what they’ve developed.
Our main recommendations for those individuals about to take on a new project or program: first, invest in a single source of truth for your construction data. Analyze and utilize your historical data to maximize value, review lessons learned, gain project insights, and ensure project success. Secondly, do not perceive today’s technology or upcoming tools as optional. Instead, recognize them as integral pieces to mainstream project development, continuously advancing into the future. Involve team members with data skills from the very early stages; tapping into these skills will benefit the entire construction team and improve project outcomes.