Hot Projects to Keep an Eye On Construction projects across the country are tapping into technology—in the office, on the jobsite, and in the lifecycle of the construction facility. From universities, to corporate buildings, to homes, these examples underpin how projects are built today, while also giving a peek inside to see how they foreshadow the technologies yet to come. These are some of the top, hot projects—and technologies—to keep an eye on today and for the future. They point to how the technology is changing the way business is done in construction today—and what is still to come.
Construction and Cities of the Future Savvy construction companies recognize that the growth of technology and the evolution of cities will fundamentally change how projects are built and managed throughout the lifecycle. Perhaps one of the biggest trends today is urbanization.
The Unicorns Are Coming for You Recently technology tools have been coming at us faster than a rider on one of the dockless scooters that now litter the streets of our cities. We have been in their sights for years, and they have been trying to find a way onto our projects, into our organizations, and into our industry.
Construction Call to Action: Winter Is Coming Construction sales and backlogs are at all-time highs. Additional opportunities are expected with the highly anticipated government infrastructure deal. However, winter is coming. Without radical change, companies will fall short of their short-term revenue goals and the industry will not meet heightened expectations. Strong backlogs and aggressive schedules will be compromised with the lack of skilled labor and laissez-faire attitudes on wholesale productivity improvements. There is a crisis in the making. What can be done to mitigate labor and productivity concerns in the short term and establish strategies for long-term success?
The Digitization of Intelligence For decades, the necessary technology tools have been available to generate more and more data, as it relates to various processes in construction such as project management, scheduling, job costing, and more. The challenge is, with the influx of data, in the last few years, it has become more difficult to use that information well.
Solving the Construction Labor Crunch, One Exoskeleton at a Time The construction industry is facing a demographic crisis that has been building for years—a crisis that has led to a labor shortage unlike anything the industry has experienced in the past. All of us have experienced this labor crunch firsthand at our companies, where filling open positions becomes harder each week. But the numbers are staggering when looked at from a macro perspective. In the U.S., there is a shortage of hundreds of thousands of workers across the industry. A U.S. Chamber of Commerce, www.uschamber.com, Washington, D.C., study in Q1, reported that 70% of construction companies are feeling the labor crunch. That labor shortage is a reality everywhere, but it is particularly pronounced in high-growth states. Colorado, for example, is projected to experience a labor shortfall of 30,000 workers—in one state alone.
Jack Welch once said, “There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow … It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.”
Nifty 50 As we have been researching the 2019 Constructech 50 and digging into what makes a strong company culture today, a common theme stands out. Each winning technology company recognizes this one word: People.
“Do You Feel Lucky, Punk?” I admit, having a clean safety record when I was in the business, involved lots of awareness and a little bit of luck. Unfortunately, not everyone is blessed with luck.