
Tech Transformations in Real Estate and Construction
CIO Review APAC | Friday, January 13, 2023

A systematic approach to workforce and project management is the key to ensuring streamlined execution and seamless communication.
FREMONT, CA:When it comes to increasing employee productivity in the real estate and construction industries, technology is crucial. Critical barriers, including remote communication, disorganised work breakdown structures, budget control on-site, resource management, etc. are frequently faced by teams. Due to the difficulties the construction labour faces, project outputs are also delayed.
The secret to efficient execution and fluid communication is a methodical approach to workforce and project management.
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When businesses use cutting-edge technology, site personnel may constantly update managers, bringing greater transparency into projects. Key technologies for construction management can bring efficiency from procurement to delivery, reducing costs and raising worker productivity.
The enhanced collaboration between stakeholders is one of the main advantages of implementing an enterprise-wide technology solution for building projects. Due to the enhanced efficiency that collaboration fosters, nearly 70 per cent of Indian construction enterprises are still in the early stages of their digitization journey.
Throughout their lifespans, larger capital projects commonly incur 20 per cent time overruns and 80 per cent financial overruns, making it harder to manage them at scale. Construction businesses may adapt to dynamic changes and trends more quickly owing to digitization without sacrificing connectedness among teams.
The emphasis on strategic planning through technology is one of the areas that has had the biggest impact on the construction industry. BIM, 4D, ERP, CRMs, and 3D printing are just a few of the technology tools that may be used in construction projects to assist workers in better understanding project realities in practice. In reality, by shortening the construction process, integrating BIM into planning and strategy for construction can reduce overall costs by approximately 20 per cent.
For an omnichannel transformation experience, 66 per cent of construction businesses prioritise critical technologies like BIM, virtual mapping, building visualisation, compliance tools, etc. To improve planning and strategy and reduce expenses throughout the project, an ecosystem is being built. As a result, workers in the construction industry are becoming more productive and have better access to reliable project data during the important planning phases.
Automation is essential for increasing workforce productivity as it can efficiently complete jobs that require a lot of physical labour in a short amount of time. This makes it possible for the workers in the construction industry to focus their efforts on timely, creative processes that lead to higher-quality production. When crucial processes like indent management, multi-site material movement, and scheduling are automated through a centralised system, teams may concentrate on improving site performance.
Increased labour efficiency may result in larger cost reductions for projects already experiencing delays and overruns. Through progress reports, updates, and mapping technology, managers can also monitor employee activity. When processes are automated at scale, the objectives can be met by any team member without any problems. This directly increases staff productivity and transparency throughout the project.
Additionally, to ensure that ideas are effectively translated to on-ground execution, building projects are utilising robotics, drones, AI, and other cutting-edge technologies. They also help with visual reporting, safety reporting, and site quality inspection, among other things. These technologies enable workers to access more data points, ensuring smooth fieldwork for projects of all sizes. Besides, they support construction employees in developing new scientific insights for bettering project outcomes.
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