Environmental Safety and Material Standards in Construction
Leading construction companies are well-versed in government, non-governmental organizations (NGOs), and customer expectations for eco-friendly and energy-efficient construction practices. The key, however, is finding an economical solution for materials, processes, and post-construction sustainability that reduce the environmental footprint. To implement new material, process, and post-construction standards, construction firms must make a greater push to leverage analytics.
Global sourcing and partnerships can help firms implement these ideas. Furthermore, augmented or virtual reality (AR or VR) and 3D visualization of structures, drone-based surveys, connected devices providing continuous data streams, and wear-and-tear information can help project teams make better and more proactive decisions.
This would help to drive engagement from construction firms with customers. Similarly, digitalizing construction management processes like materials and capacity planning-to-scheduling, just-in-time (JIT) delivery, and building information modelling (BIM) for shared views of progress will drive up capacity utilization, efficiency, predictability, and reduce the overall cost of delivering projects for construction firms.
Only 7% of Companies Are Delivering on Their Transformational Initiatives
Our research has shown that 30% of companies will fail to survive this decade due to an inability to evolve digitally. To address this negative trend, we have developed the Digital Enterprise Evolution Model™ (DEEM).
Digital Enterprise Evolution Model™
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DEEM allows our clients to recognize digital evolution patterns, implement benchmarking and prioritization strategies, and initiate application management protocols to satisfy stakeholder and market requirements.
Modernizing IT Function to Support Research and Development in Construction
A centralized research and development (R&D) department can help companies develop new technologies or techniques, as well as roll these innovations out across business units globally. As a first step, the IT function in the construction industry needs to be modernized to address new paradigms around IT service management (ITSM) and IT operations management (ITOM). While most construction companies understand the importance of cloud investments , only a small proportion are committing through investments in analytics and process digitalization. There is a huge opportunity for improvement across the entire construction industry. For the construction industry to thrive, digitalization must be integrated as strategic point of view for the digital era.
Human Capital Management (HCM) in the Construction Industry
Our research has shown the construction industry is not investing enough in human capital management (HCM). The value of experience is falling to the wayside in a complex industry that is in dire need of technical skills and experience. With decentralization across business units, regions, construction projects, and the workforce it is difficult to develop a unified work culture.
This is a challenge construction firms must overcome using digital transformation, training, and globally consistent employee experiences (EX). To emerge into the vision-driven quadrant, CEOs must benchmark their companies, focusing on transforming product-service portfolios, prioritizing the value chain, and either acquiring new talent or upskilling existing talent via direct involvement.