The importance of planning when it comes to construction projects cannot be understated. Without solid planning in place, all stakeholders will be in for many headaches down the road. Thanks to the digitisation of the AECO industry, project planners now have a wealth of data at their fingertips. When used strategically, this data can have a big impact when it comes to getting the job down and hitting key targets. Here are a few key reasons project planners are analysing data and how they’re leveraging it to get results:
Work with better estimates
Planning involves making informed estimations about how a construction project will run and come together. How much time is this stage going to take? Who needs to be doing what, where? What machines and crew are needed and for how long? Analysing data from previous projects helps project planners get a better feel for team and machine performance, thus making it possible to estimate more accurately.
Identify opportunities to reduce time and cost
Taking a deep dive into the data can also help project planners identify opportunities for reducing time and cost. This information can be used to strategically maximise labour and machinery use to improve onsite execution. With 80% of construction projects running overbudget and 20% taking longer than projected, this is a big value add for relevant stakeholders.
Avoid reinventing the wheel
However, it’s not necessary for project planners to start from scratch every time. While re-evaluating the data regularly is important to make sure the best practices are being used, data-backed strategies that have worked well in the past can be used repeatedly with minor adjustment to efficiently plan projects.
Make sure everything is up to code
Data can also be used in the planning phase to ensure that the new build will meet governance, regulatory and compliance (GRC) requirements at every stage of the construction process. This will help avoid big problems down the road.
Use real-time data to pivot effectively
Unfortunately, even the best laid plans aren’t set in stone. Unforeseen delays are almost certain to pop up on construction sites, and they can have a big impact on time and budget. By regularly analysing real-time data, project planners are a step ahead of potential problems and can use this information to quickly come up with a plan B if necessary.
For more information on how project planners in the AECO industry can gain valuable insight from data, download our latest whitepaper ‘Data Worth Knowing’.