Why Your Construction Company is Really in the Business of Construction Technology

24Jul17

By Pete Billante. Connect and Construct

Why on earth would we claim that you are really in the business of construction technology?

Because you are. You just might not recognize it.

spokane crane IMCO construction technology.jpg

The construction industry has a technology problem

A 2016 survey by strategic advisory firm, KPMG, shows that the industry is ambivalent about technology uptake. While 61% of construction companies are using Building Information Modeling (BIM), the survey also found that firms are not investing in single, fully integrated project management information systems. Instead they are using multiple software platforms that are manually monitored, an inefficient use of software at best. This can lead to a perception that they are not getting full value from BIM because information is lost as it moves from design processes and into construction.

Additionally, nearly 40% of construction firms that use mobile technology do not link to an integrated system or enterprise-wide project management system. This means mobile technology isn’t being put to its best use in the very place where it is supposed to make the most difference.

Geno Armstrong, International Sector Leader, Engineering & Construction, KPMG in the U.S., explains further: “Many [construction firms] lack a clear technology strategy, and either adopt it in a piecemeal fashion, or not at all.”

If there is an industry-wide lack of technology strategy, then this helps to explain the construction industry’s well-documented productivity problem, which according to the McKinsey Global Institute, has only grown 1% annually for the last 20 years. McKinsey’s report identifies underinvestment in technology as a root cause of this lack of productivity.

The construction industry is changing. Don’t get left behind

There are also strategic, systematic ways to pursue implementing new construction technology that can help take the pain out of the transition.  And while there is fear, real or imagined, that will be a difficult and lengthy process, on the other hand, there are also plenty of opportunity.

The bottom line is, whether you are ready to change or not, 3 truths are self-evident:

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