The construction industry is poised for a technological revolution. Confronted by a variety of challenges – environmental issues, low profit margins, more demanding clients, tightened building regulations – the industry has grown adept to embracing new technologies. The industry needs to respond to the perennial problems associated with it. As highlighted in a McKinsey report, it is not uncommon for construction schedules to run 20% over time and cost 80% over budget.
Building Information Modelling, commonly known as BIM, has taken off over the past few years as more building designers and construction project managers have come to recognise its benefits.
Construction is one of the global economy’s largest industries. It employs over 7 percent of the world’s workforce and involves an annual expenditure of around $10 trillion on related goods and services, representing 13% of global GDP. However, the construction industry has lagged behind other industries in improving its productivity.
With the advancement in technology, construction businesses now have many software options to choose from. This post focuses on evaluating the pros and cons of construction contractors using Cloud-hosted, construction Software-as-a-Service (“SaaS”) solution as compared with on-premises (“On-premise”) custom-built solution.
Construction collaboration is crucial for the success of any project. The sharing of knowledge and information among project participants is one of the fundamental components of a successful working relationship with the goal of completing the project on time, within budget and in accordance with specifications.
The Australian Construction Industry Forum (ACIF) published their industry forecast last November. WeBuild is pleased to present a summary of the forecast and hope that readers will find it informative and useful.
According to the June 2017 Construction Outlook Report by AIGroup and Australian Constructors Association, leading construction companies in Australia are anticipating a recovery in engineering and non-residential construction activity in 2017 and 2018.