The new age of engineering and construction technology
New technologies are transforming all stages of the engineering and construction process. Here’s what companies need to know about the evolving landscape.
The engineering and construction (E&C) industry is at the cusp of a new era, with technology start-ups creating new applications and tools that are changing how companies design, plan, and execute projects. By providing advanced software, construction-focused hardware, and analytics capabilities, these innovative start-ups are eliminating many of the problems that have dogged the E&C sector for decades, including difficulties compiling and sharing project information. Such improvements could not come at a better time, since construction projects are becoming increasingly complex and expensive, putting managers under greater pressure to improve costs, timelines, and efficiency.
Many E&C companies have begun incorporating new construction technologies into their daily activities, but most of their efforts have focused on software tools for digital collaboration. The reasons for this narrow focus vary, but some players hesitate to expand into any other area because they have traditionally struggled to deploy new tools at scale, limiting their impact. The modest returns they’ve seen to date make these companies reluctant to explore additional productivity-enhancing technologies, especially those requiring substantial investment. Other companies are simply unfamiliar with tools and solutions in areas beyond digital collaboration.
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Tags: ERP , Projectmanagement