Construction industry is a complex multi-project environment that coordinates multiple departments, buildings, and technologies at the same time. The cost of mistakes is extremely high, so with many dynamic parts, precise resource management is critical.
It can be complicated for managers to be aware of all processes across a project portfolio, but scenario planning software can help in solving this problem. It gives an opportunity to predict risks, allocate resources according to real-time needs, and stay on track during project execution.
Key Technology Trends for Construction Industry
AI-powered tools.
Artificial intelligence now is one of the most rapidly growing technologies across industries. It brings different useful tools, like design generation, automatic reporting, and real-time insights about optimization, to spot issues early. But the one feature that may attract the professionals’ attention is scenario planning software.
It allows you to run different scenarios in the independent environment without affecting actual project data and see possible consequences of your solutions. Can be used not only at a planning stage but also during execution.
Construction drones.
It isn’t surprising that drones gained a lot of attention in the construction industry. They allow experts to spot issues and quickly get a full real-time picture of the project process without manual surveys. Also, they help to monitor large or hard-to-reach areas, improving employee safety.
Building information modeling (BIM).
Building information modeling is a growing trend in construction management. It is software that provides not only the 3D plan of a building but also shows all of its components in great detail. It is expected that BIM will integrate more AI tools and analytics to become more efficient.
Robots.
In this case construction is not much different from other industries, because robotics and automation are widely used across many processes. It improves the quality of work, and the risks of mistakes are much lower because of widely used AI technologies.
IoT technologies.
Internet of Things devices, such as smart sensors, GPS trackers, and wearables, quickly gained traction across industries, and construction isn’t an exception. Their main advantage is the ability to collect huge amounts of real-time data and deliver it to other devices which ensures tight connection and effective work.
Major Challenges in the Construction Industry
A lack of skilled labor.
The industry has long struggled with a shortage of skilled workers, because experienced professionals are retiring, though younger ones often choose other industries over construction. This is one of the biggest challenges for this area – without skilled workers, projects might face delays and cost overruns.
Sustainability and regulatory pressure.
The tendency of implementing green technologies and using more sustainable materials in the construction industry to reduce carbon footprint is quite explicable. Governments and clients are demanding alternative energy sources, waste reduction, and using more recycled materials. These new requirements add complexity to design and increase costs if not planned effectively, with increasing risk of penalties and reputational damage.
Supply chain disruptions.
This challenge is common for all industries, but consequences for construction are quite harmful. It is caused by the geopolitical situation in the world, workforce shortages, natural disasters, and increasing shipping and energy costs. Supply chain disruptions might be a main reason for delays and increasing costs.
Growing competitiveness.
The construction market is becoming more competitive as new methods and technologies arise. To stay on track and not lose positions, professionals should quickly adapt to the new trends, like AI-powered tools to stay on track.
Complex project coordination.
Such large-scale projects as construction involve a huge number of vendors, departments, engineers, and contractors, and even one uncontrolled change in scope of work can cause a chain reaction of unwanted consequences. Without effective coordination and risk management, projects face delays and duplicated work.
How Scenario Planning Software Benefits Construction Industry: Epicflow Solution
Scenario planning software allows you to:
- Forecast bottlenecks early using predictive software and gain data-driven insights to escape costly issues and reputational damage;
- What-if scenario analysis helps to simulate a handful of scenarios, like “What if we reassign this task to another designer?” or “What if we delay this project for 2 weeks?” and predict risks;
- Analyze previous resource workload to prevent conflicts and overbooking;
- Get a full picture of the project’s progress;
- Prioritize projects effectively;
- Increase efficiency.
Epicflow was created to help managers in a multi-project environment, especially in the construction field, avoid challenges described above. Scenario planning software allows experts to deal with uncertainty and risks, increasing outcomes and efficiency.
Conclusion
The construction industry is an immeasurably complex field with lots of simultaneous processes that need optimization. In this case, scenario planning software is a must for project success delivery because it helps to allocate resources wisely, detect risks, and prevent them while gaining real-time information about project statuses across the portfolio. The importance of scenario planning software in the construction industry is invaluable.
Book a call to see a demo version of Epicflow and how these features work in practice.
Frequently Asked Questions (FAQ)
What are the main challenges in the construction industry?
The main challenges in the construction industry are growing competitiveness, short innovation cycles, workforce shortages, supply chain disruptions, and high complexity of project coordination.
Why do I need to integrate scenario planning software into my construction business?
You need to integrate scenario planning software because it brings powerful advantages, such as:
- Risk detection and prevention;
- Proper resource allocation;
- Effective prioritization;
- Visibility across the project portfolio;
- Increased efficiency of all processes;
What are the latest trends in construction?
The latest trend in the construction industry is AI-driven instruments and scenario planning software that help to increase efficiency and predict bottlenecks. Also, IoT technologies, robots, drones, and building information modeling powered with AI quickly gain their traction.
