The BuiltWorlds Benchmarking Program is a valuable resource for Engineering and Construction professionals to measure the strength of their technology adoption. The program can be utilized by construction professionals to understand and improve the successful use of technology. Within the BuiltWorlds Benchmarking Program are five key categories: Preconstruction; Project Management & Oversight; Field Management Solutions; Tools, Equipment, & Robotics; and Offsite (Modular) Construction.
2023 Preconstruction Benchmarking Report
The 2023 Annual Preconstruction Benchmarking Report consists of aggregated results from the 2023 survey which had a focal point of preconstruction project delivery technologies. This was then focused into speciality areas and categories including: bid management/prequalification, scheduling, project modeling & simulation, estimating, life cycle costing, and value engineering. The survey included 57 responses from 5 countries across North America, Europe, and Asia from companies ranging from <$30M of annual revenue up to $5B+ of annual revenue.
It is exciting to see a fast-paced progression of the built world and how this innovation has accelerated initiatives and improved safety within the workplace, but it can feel overwhelming to follow progress with such rapidity. This report is meant to serve as a tool to break down this chaotic space with primary data from construction companies around the world and to provide a full and clear picture of how this can be adopted into all areas of construction project management and technologies. The surveyed criteria focused on key functionality areas for each specialty area.
Some current recurring themes in construction technology are the development of artificial intelligent technology, streamlining the flow of data, and data analytics/business intelligence. The need for a strong application of these themes is vital for preconstruction and will have a direct impact on the success of the execution phase of a project. It is essential to strengthen collaboration between stakeholders within the design phase, as there are many facets that must be considered. 52% of contractors that completed the 2023 survey self-identified as feeling either “excellent” or “very good” about how they are performing preconstruction activities.
Bid Management & Prequalification
Bid management & prequalification encompass aggregating and communicating bid data from both an internal and external lens while determining the likelihood of successful completion of the scope of work. Adopting a strong solution within this stage will aid contractors with increasing efficiency, improving collaboration, and managing their data more effectively to better project outcomes.
Scheduling
Project scheduling is the process which involves the coordination of the scope, a breakdown of tasks and their dependency and duration within the project, and trades on the project. This is a dynamic process that has many moving parts and requires a database that can serve as a scheduling solution.
Project Modeling and Simulation
Project modeling and simulation within the construction industry involves creating visuals, such as 3D virtual models, and also using software to analyze possible setbacks and scenarios prior to and during the construction phase. This software can not only improve the accuracy and efficiency of the process but also reduces the environmental impact of the project.
Estimating
A project’s estimating process includes defining the scope, while also assessing the soft and hard costs that are associated with the project. This provides a detailed estimate so that contractors and clients can discuss the most favorable management of costs within the project to achieve profit.
Life Cycle Costing
The life cycle costing is a process that evaluates the costs that an asset will incur throughout its full lifespan. This includes initial backing, long-term investments, annual recurring costs, and salvage or disposal costs. Less than 5% of our 2023 survey’s respondents indicated the use of a life cycle costing solution.
Value Engineering
Value engineering is meant to optimize the value of a project while also increasing cost savings. Within this process BIM is utilized before and during the construction phase to provide insights and data that will reduce overall costs and improve overall performance.
Next Steps
Check out the 2023 Preconstruction Benchmarking Report to gain more insight on the leading technologies today. Click the link below to view the full report.
2023 Annual Preconstruction Benchmarking Report
Take the remaining surveys to help us gain data to show what technology you and your peers use. We are now granting a Digital Leader Badge industry players who receive the highest rank for their technology implementation. Click the link below to go to the BuiltWorlds Benchmarking home page.
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