The construction industry has been making moves in several areas from big data to green building to collaborative contracts. Our Chattanooga contractor attorneys believe the future of construction is bright with the major trends listed in this two-part article. Read part two to learn more.
Big data involves the collection and analysis of massive amounts of information to improve efficiency. It is a source of valuable information likely to transform the construction process. All data such as materials, labor hours, idle time, daily production, specifications, and change orders must be controlled in order for the data to be effective. The more complex the project, the more critical it is to have the right systems in place to manage it. Companies must move from paper to automation if they want to see better organization, increased productivity, and a reduction in costs.
As technology evolves, construction data can be captured through drones, telematics, wearables, smartphones, and more. Then this data must be analyzed and utilized to make better decisions, improve the company’s profits, improve safety, and increase productivity. To learn more about big data, read this article here.
The construction industry is also experiencing a huge shift in green building trends this year. Because there is a greater demand for flexibility and wellness, the planning and designing of work spaces, hotels, retail, apartments and more is changing. Innovation is also on the rise where the demand for adaptable designs, modular buildings, and new technology solutions is growing. Additionally, due to climate changes, limited infrastructure, and security concerns, cities around the country are raising their standards on sustainability, resilience, and certifications in building requirements.
Are collaborate contracts the key to more efficient projects? The architecture, engineering and construction (AEC) industry thinks so. In spite of technological innovations, the construction industry is slow moving and slow to change in regard to formal contracts. A lack of communication is at the core of a lot of failed projects, and improving the construction industry requires three things, “ trust, collaboration, and innovation.” The public-private partnership (P3) model contract is one that is being used for more complex projects because it encourages collaboration and has the ability to keep projects under schedule and cut costs. For legal advice regarding your next contract, the Chattanooga contractor attorneys of Cotney Construction Law are more than happy to provide you with top-notch contract review and drafting.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.