In June 2020, McKinsey and Co released a ninety-page report laying out a roadmap for the future of the construction industry. The report demonstrates how construction businesses are susceptible to the same forces that are currently reshaping the global economy and provides an in-depth look at the solutions. One of the key solutions is the digitization of products and processes and how those innovative changes will improve the way construction companies manage operations, design, and construction — including how they will communicate with project partners.
Collaborative Solutions For The Future
There is a tremendous amount of potential in collaborative work solutions for the construction management industry especially for subcontractors, material providers, labor forces, expeditors, and other vendors within the industry. Digital technologies that enable faster communication among your team members means data-driven decisions can be made without missing a beat. The ability to collaborate in real-time with your architect in his office across town, your engineer on the jobsite, and your out-of-state owners is undoubtedly one the most significant advancements in today’s construction industry. Decisions, changes, additions and other multi-party agreements that used to take hours, or even days, can now be accomplished in minutes. As the industry – and the world – reshapes itself in the coming years, the most successful construction management businesses will be the ones using these tools.
Improve Construction Budgets With Digital Tools
A significant contributing factor to rework in construction is communication challenges. Rework can consume between 7 percent to 15 percent of the total budget for new construction! Reducing rework helps to reduce waste and the hidden costs associated with waste. If you can reduce the amount of rework on a project, you can immediately improve your project’s budget. Enhancing the collaborative communication tools and methods among your team is the critical first step toward reducing rework, waste, and budget overages and will help keep you on schedule. This is where streamlined document sharing capabilities come into play. Change orders, RFIs, submittals, and more can be shared and acted on quickly. Team members do not need to be in the same room, on the same jobsite, or even in the same city!
Invite The Team To Your Project Documents
When you invite owners, engineers, architects, general contractors (and more) to RedTeam’s fully-integrated construction management platform, every single document relating to your project is secured in a cloud-based central location. Your team members can use the platform to work remotely, from anywhere around the city, country, or the globe, and share documents with any or all partners working on the project — and have a history of every interaction with each document. The metadata tracking feature between partners sharing documents allows users to track when a report is sent out and when it has been opened, clicked, printed, or responded to. And RedTeam’s collaborative console enables your team to stay updated in real-time every step of the way. Since each interaction ties directly to the shared document, your team can track documents to ensure they reach the right person and produce accurate, critical information. Additional partners can also be invited to your documents without needing an account of their own to participate in the collaborative process.
Using construction management solutions that offer forward-thinking capabilities and solutions will demonstrate your business’ commitment to success. Consider scheduling a live demo with one of our specialists to understand the full capabilities of RedTeam and the potential it has to transform your business and prepare it for the future of construction.