Construction Tech How can leveraging technology minimize construction risks
There is a popular saying that you’ll always have a plan until you get a punch in the face, construction is one search field where you might have planned for all the things which are necessary for the construction to happen, the real hurdle starts and the construction begins. Unforeseen problems can come between the process which might increase the timelines and also lead to budget overruns to an extent of approximately 10 to 25%. When we look at a larger picture, there’s millions of dollars which might go to drain each year just because of construction delays.
There are a few companies entering into the construction software technologies which are giving predictions in terms of how much time and financial resources would be required for a company to complete a specific project by implying the software or an application. By usage of technology in construction approximately 86% of builders have reported a positive visibility in terms of various aspects of a project. Many others are also commented that by employing technology the standardization of the project has also improved. Achieving 100% perfection in any sector can be very difficult, there is a continuous chain of things which need to be aligned for completing the construction process successfully. Any small problem in any kind of supply chain hierarchy would lead to unnecessary problems and waiting periods. Still there are a lot of companies which use traditional methods like raising a request of purchase by mail or sending a letter to order their materials. Forecasting of materials requirements has become much easier after the introduction of applications. Funding for big projects usually happens in multiple stages especially when the phone has to release from a specific NBFC or a financial entity this indirectly means that the lender is also involved in the construction process.
Usually if the project gets delayed the risk also gets shared with the lending partner as well. 20 on this problem is avoided., Lending companies are also being extra careful if and whether a contractor/builder is using forecasting technologies i’m not Elimination of errors Often when tasks are being given to humans, there’s high probability of forgetfulness and also possible human error. There could be some email mixups, miscommunications, and other manual problems. When the process is taking back-and-forth multiple times, this may take weeks but then technologies employed this will all come down to if you hours a week and saves up an entire man’s job. It all drops down to maximizing of The efficiency of the project construction. Epikaizo Construction aims to employ all construction tech solutions in its day to day processes which will be monitored by a in house operations and project management teams.