The construction industry (for purposes of definition) includes:
- Construction equipment rental
- Contractor profit
- Fixed-site fabrication
- Infrastructure projects
- Materials cost
- Mechanical/electrical installations
- New homes/buildings
- Site preparation
- Structures used to support production equipment (pipes, girders, platforms, etc.)
- Taxes/interest (except for state/federal projects)
Those are construction industry services and supplies directly related to our business. But many different businesses offering retail products and services follow the construction industry.
Smart business developers use building permit data to learn where and what is being built in their markets.
Construction Industry 4.0: Success Drivers
The “Fourth Industrial Revolution” (Industry 4.0) is a term coined in 2016. It references traditional industrial and manufacturing practices that are now smart-technology-driven. The construction industry is seeing a similar revolution. We’re using technology like never before. Builder Hank Withaar says our “success drivers” include:
- BIM – Building information modeling improves accuracy and productivity because it coordinates design and deliverables.
- GPS – Global positioning systems on construction sites help surveyors, earthmovers, and general supervisors improve productivity by reducing guesswork.
- New techniques – Technology has proven valuable to the construction industry, but it also adds time to projects. Data management and intricate communication systems are integrated into new builds, so the project becomes more complex. We’re developing new techniques to offset the additional hours needed for technologically challenging builds and renovations.
- Parts carts – Organizing necessary parts – and only what’s needed – before they are needed for field installation saves time spent “looking for” materials.
- Prefabrication – This process has improved quality control and speed. Prefab components are produced offsite and delivered when they’re needed. Prefabricated buildings are also trending when standardized sizes and finishes are feasible.
- Waste reduction – We can’t afford to waste materials or time. The Lean Construction Institute has developed and promotes new techniques for shorter timelines and fewer errors, including:
- Daily Huddle Meetings
- Last Planner
- Project Incentives
- Project Visualization
- Pull Planning
- Weekly Work Plan
- Post-project reviews – The entire team participates in a lessons-learned project review. Ideas for improvement are shared. Techniques that didn’t work and “what went right” are reviewed.
The Industry Resource for Construction Data
Join the growing number of companies that use our construction analytics as one of their success drivers. Contact Construction Monitor today.