The digitalisation of processes - an unnecessary invention that does not apply to the real construction world or the best solution to current pain points in the industry? Before you come to judgement, read our article and learn all about the digital management of property development projects.
A buzzword that does not apply to the real construction world or the best answer to the industry’s pain points? No matter your personal approach, it is hard to deny that digitisation is becoming a popular trend nowadays in the construction industry.
Have you ever considered making your management processes more digital?
Do you think that digital solutions might be beneficial for property developers?
Have you heard about this trend, but are not sure whether such tools could benefit your business?
Today, we will take a look at the property development industry, its state, and its challenges and will consider how modern construction management solutions can benefit your company. Let’s go!
According to the Statista Research Department, the real estate industry plays a significant role in the United Kingdom’s (UK) economy despite the coronavirus and Brexit implications.
542,000 people were employed in the property development sector
The industry generated over 68.1 billion pounds in turnover
There were around 113,200 real estate businesses
When it comes to current trends in the industry, we can observe some strong tendencies:
Modern methods of construction - also known as off-site construction techniques
Decarbonisation Demand - a target for the whole construction economy of zero net emission
Build to Rent - currently one of the most common practices on the market, which assumes purchase and renovation of the property to rent it later and increase the profits
Legacy Design - the trend to modernise the building so that it will be in fashion for a long time without losing its value
Repurposing / Mixed Use - modification of existing buildings so that they can serve two purposes: commercial and residential
Here, we just wanted to briefly mention the current tendencies on the market. However, if you want to know more details about each of these trends, we have a whole article about it!
If you work in this industry, you probably know that property development businesses are not challenge-free. Among the general pain points that impact almost the entire construction industry, we can name:
Coronavirus Outbreak and its implications on the UK’s economy
Material shortage and rising costs
Requirement of the industry transformation towards becoming more sustainable and reduction of carbon footprint
However, apart from the general challenges, we can also distinguish the project management issues that most companies face. Are you curious to know what they are? Probably, you know best which parts of project delivery your company struggles the most with. However, to give you a broader perspective, let’s recall some numbers:
of construction projects exceed the budget
of projects fail due to poor communication
of construction projects suffer significant delays
Do you feel that your company also faces these issues? If you do, you are not the only one on the market! However, these numbers also show how serious the project management problems are. Luckily, the digitalisation of construction management can be one of the solutions to fight them!
The digitalisation of processes is simply moving the construction actions to the Internet software (or some kind of system). Such software usually offers different tools that help you execute your projects. When it comes to construction work, of course, you cannot do everything from your computer. However, planning, controlling and managing can be easily moved to the digital world.
Okay, in theory, you know now what digitalisation is, but how does it work in practice? Usually, it is done using a construction management platform. Such software helps you move all your actions to one place and coordinate your employees' work.
Attention! It is essential to invest in a solution that has a feature called a golden thread. It means that the system joins all aspects of project and business management by streamlined communication flow and, just like a thread, joins the whole company together. Only with such a feature, you can truly benefit from digital processes.
The properly chosen and implemented solution can be an excellent opportunity for your business. Let's face the truth, in the 21st century technology is almost everywhere. So why not take advantage of it and level up your business? Let's list here just a few benefits:
Complete control over executed projects - all your processes are gathered in one software, and you do not have to switch back and forth between Excel Sheets to find one piece of information.
Streamlined communication - you can contact your subcontractors or your employees working on different sites and see the changes in the project right away thanks to the use of the software.
Projects executed within the budget - of course, even the best digital tools can assure that every project will be finished within the budget. However, they can give you a bunch of solutions that will help you accomplish that!
Work complied with H&S Regulations - property developers are usually responsible for completing Health and Safety Regulations. With the help of a digital document management tool, you can be sure that all the necessary documentation is filled out and that your workplace is adequately secured.
If you are looking for a digital solution for your company, our construction management platform might be the right tool to improve your project and business management:
The change is necessary to improve your business! That is why you should be open to new ideas and ways of working. There is no longer a requirement to do everything by yourself and create tons of paperwork or Excel Spreadsheets.
We believe that the digitalisation of processes is not an empty buzzword but rather a good way of redesigning existing processes to make them faster, easier and more efficient. Moreover, it is something we can help you with! So if you are looking for a digital tool for your business, we are more than happy to show you the best solutions that will improve your processes!
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