Data Analytics Service for Construction Projects? 1

[Max.F]

Hey All,

I am curious about how data analytics can be used in more construction projects. Especially in cases were companies do not have their own data analytic teams.

I understand that data analytics and digitization in construction are becoming more 'popular' trends but I am curious about what everyone's experience with analytic services has been like?

Do you think data analytics on a project basis to get insights into wasted costs, material and time would be useful?

Max

 

[IRstuff]

Usefulness is in the eye of the beholder, but the issue is typically more that few want to spend the money to do the analytics.
And this is referring to even the simplest analytics

> did we accurately scope the project
> did we accurately price the scope
> were we able to control the number of changes
> were the changes due to scope changes or errors of design
> did we charge the customer for their directed scope changes
> did we manage the procurements

TTFN (ta ta for now)
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[Max.F]

Thanks a lot IRstuff!

I guess a lot of analytics is very high cost, and for some projects these costs outweigh the benefits. Though with the cases you mentioned if they were measured I presume they would be pretty useful?

I made a survey with a few questions as I want to try to help make data analytics more affordable for construction. The survey is very short and I am posting it in this reply as I don't wish to spam it everywhere and degrade the content of the forum.

https://forms.gle/emQ3FbYFosQ6nz2r7

Best,
MAx

 

[IRstuff]

Sure, particularly if you're in a market where fixed-price contracts are prevalent. Being able to make profit requires being able to bid accurately and to manage the expenses and learning from past experience. A poor bid makes it difficult, if not impossible to manage the expenses, unless you crank in a bunch of unpaid overtime, which is highly undesirable. Erring the other way increases the probability of not winning the competition in the first place.

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[Max.F]

That makes sense, so far in my experience in construction I have seen when the company I am at are out-bid by a competitor on a project. But then the project goes far above the competitor bid and costs the client more. Yet alas my company is still one contract short. I guess this is common throughout the industry!

 

[IRstuff]

This time, yes. But, the customer might realize that the current winner lowballed and then nickeled and dimed him into a more expensive end-result.

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[IRstuff]

Proposal mode and meeting-contract mode are very different things with very different mindsets.

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