Good to Great: How to Scale With an Outsourced CFO

New technologies are changing the way we live, communicate and work, and this is as true in the construction industry as it is in any other sector.

 

Many of these digital disruptions have the potential to streamline your processes and improve quality, safety and efficiency. Let’s take a look at some of the most exciting digital disruptions in the construction industry today.

 

Higher Definition Surveying and Geolocation

Too many construction projects face delays due to geological surprises. Discrepancies between actual conditions and perceived conditions can be incredibly expensive to manage. Fortunately, new technologies offer methods for understanding a site’s geology before the project begins.

 

For instance, photogrammetry produces high-definition images of survey images, and Light-Detection-and-Ranging (LIDAR) technology provides three-dimensional images that can be incorporated into planning tools.

 

LIDAR has been used for quite some time, but the use of aerial drones is making it more accessible to the wider construction industry. Hand-held 3D laser scanners and ubiquitous mobile platforms are also helping LIDAR to disrupt traditional construction digitally.

 

5D Building Information Modeling

Next-gen 5D BIM platforms allow you to identify and analyse the impact of potential changes on projects before they’re implemented. Spanning five dimensions (planning, design, construction, operations and maintenance), 5D BIM platforms help you to identify risks and issues earlier on, saving you precious time and money.

 

Elements of the 3D models can be used for estimating costs and predicting schedules. In a nutshell, 5D Building Information Modeling is helping construction companies to run more efficiently.

 

Drones for Estimates and Inspections

With their ability to capture detailed images from above, aerial drones are disrupting estimating and inspections. Traditionally, inspections have taken a great deal of time, both for regulatory purposes and to measure risk for workers. With drones, however, they can be expedited; speeding up your work and improving results.

 

 

3D Printing

Sometimes called additive manufacturing, 3D printing is disrupting the construction industry in the following ways:

• Cutting costs due to shorter completion times, minimal wastage and better pre-planning
• Superior heat insulation and better strength of materials
• Lower labour costs and fewer on-site accidents
• Improved accuracy of design
• Quicker turnaround: secondary work can be carried out during construction

 

Originally built to produce small plastic objects, today’s 3D printers are incredibly versatile. The Dutch city of Eindhoven houses a 3D printing factory that produces concrete-printed houses, bicycle bridges and other urban projects.

 

Artificial Intelligence

Artificial intelligence is disrupting just about every sector in Australia and construction is no exception. In the field, construction workers can now wear helmets fitted with Intellitrack, which is software designed to recognise products and equipment and track worker location.

 

Soil Valuations

Innovative soil valuation technologies improve construction results, allowing you to choose the materials, processes and preventative measures to ensure stability. With tests for shear strength, consolidation, permeability, compressive strength, foundation load and soil index, it’s possible to gather all the data you need before you ever start to dig.

 

Financial Tools

Have your administrative processes kept pace with today’s cutting-edge financial tools? Here at Altus Financial, we understand the financial challenges facing construction companies, and we have the latest accounting and managerial tools necessary to help you thrive. Reach out to us to learn more about how we can help you to reach your goals.