The digital transformation of the construction industry will enable construction projects to be completed more efficiently and in a shorter timeframe. Digital transformation refers to the usage of web-based applications or software that help construction managers address any challenges that arise in the project.
Some examples of technology commonly used are performance measurement software and productivity tracking software. Project management information systems (PMIS) is another common application used for monitoring, managing, and mitigating risks during construction projects.
The digital transformation thus helps to facilitate better and easier data collection, performance tracking, strategic decision making, and streamlining various processes to ensure the project is completed smoothly. Here are some suggestions to help your company succeed in the digital transformation of construction projects.
Right Talent and Mindset
If you want your construction project to succeed with digital transformation, then you need people with the proper digital capabilities and talent to spearhead the digital transformation. Digital transformation processes are very complex and are unique to every construction company. The higher management team should thus be knowledgeable about digital transformation and know the relevant digital skills as they will have to manage and execute the digital transformation.
Organizations with senior leaders who are familiar with digital technology were reported to be 2.3x more successful when it came to digital transformations. Being adaptable is critical to digital transformation as the learning curve is steep and everyone may be required to be digitally savvy. The higher management team should thus create an organizational culture where employees can be sent for reskilling or upskilling programs to meet the needs of the digital transformation.
The company should also hire more software engineers, computer scientists, and other information technology personnel so that they have the right talent needed for the digital transformation to occur smoothly and to complement existing teams. The company should also hardwire the mindsets of its employees and everyone to be more embracing of using technology in their work and to be digitally prepared.
Investment
Digital transformation often requires heavy investment from the company. This is not just to attract the right talent needed for the digital transformation or to upskill workers, but to also upgrade existing infrastructure, facilities, and software to meet the needs of the digital transformation.
Investing in digital transformation will result in a technological solution that not only streamlines numerous processes in the construction project, but also reduces the need for repetitive work, training costs, and increases overall productivity. If you want your company to succeed in digital transformation, you should first assess your company’s finances and any construction projects it is currently undertaking.
Does your company have the finances needed to digitally transform? Will doing so affect the resources and financing of your construction project? Digital transformation will help you to cut costs and make the construction process more efficient, however, in the short term, it may affect your company’s finances negatively especially if your company is already in debt. You should thus ensure that your company has sufficient liquidity before undertaking digital transformation.
