In 2016, management consulting firm McKinsey & Company suggested that construction productivity has declined in some markets since the 1990s.
As a result, according to McKinsey, “the world will need to spend $57tn on infrastructure by 2030 to keep up with global GDP growth.” This amount of capital is staggering and shows that it is time for considerable change.
The construction industry has been slow to adopt innovations – lagging far behind other industries like ICT – or advanced manufacturing, faring only slightly better than agriculture and farming.
One of the major challenges facing project delivery firms is the geographically dispersed nature of project teams.
Poor productivity and inefficient processes are unsurprising consequences that impact project performance. Access to consistent information can be a challenge, contributing to errors, costly overruns, and late delivery of projects.
Progress has been made in some areas, however. New methods of sharing project responsibility look set to accelerate the “going digital” journey to combat late delivery, budget excesses, and poor performance visibility.
Users can implement a BIM process, regardless of their specific discipline or the project’s phase. To maximize the benefits of a professional’s contribution, a connected data environment (CDE) offers not only digital workflows to share valuable project data, but also automation and insight by improving mobility of information.
Users can also enable industrial-strength cloud services to look to best practice approaches and better information mobility.
McKinsey’s five prescriptions are realistic for construction firms to adopt today and include:
- Higher-definition surveying and geolocation
- Rapid digital mapping and estimating
- Next-generation 5D building information modeling
- Design platform for the future
- Digital collaboration and mobility
- Moving to paperless projects, from the office to the worksite
- The Internet of Things and advanced analytics
- Intelligent asset management and decision making
- Future-proof design and construction
- Designing materials and methods for the future
The following five firms show their adoption of these prescriptions and represent their “going digital” journey.
Continue on next page to see the top five companies....