Data is a strategic asset—an extremely valuable one at that. While many organizations in the construction and capital projects industries will agree with this statement, relatively few have fully embraced data as a trusted internal tool. Put differently, relatively few organizations are sufficiently data-centric. The benefits of becoming more data-centric are many—from greater speed and accuracy in reporting, to more informed decision-making, and universal access to data when and how it’s needed.
One of the biggest challenges faced in the design of capital projects may, at first, seem deceptively simple: to understand the needs of the owners and design a building around those parameters. How that understanding is translated into the design, however, is critical—and a major factor in the success of the project. Generative design allows designers to take advantage of the latest programming technologies to review vast amounts of design iterations in a short period of time—all while still adhering to the client’s objectives.
Niall Reynolds For Construction Executive: 'Improve Capital Project Outcomes With Emerging Technology'
Capital projects are time-consuming, labour-intensive and expensive. New technologies can do a lot to simplify or eliminate many tasks—from redundant paperwork to manual processes in all stages (including initiation, planning, executing, monitoring and control, closing and operating). The most valuable emerging technologies are those that help address the basic need to balance the project triangle of scope, schedule and cost.