“Operations keeps the lights on, strategy provides a light at the end of the tunnel, but project management is the train engine that moves the organization forward.” Joy Gumz once so astutely said these words, and they are so apropos for construction where project managers are tasked with managing time, cost, and quality of often billion-dollar projects.
If project management is done well, then the project is often a success, but if even so much as one ball is dropped, then time, cost, or quality could be sacrificed. There is perhaps no greater area of a construction business that technology is needed to keep projects humming along. For today’s blog, let’s dig into the state of project management in construction, the need for technology, and projections for the future.
Construction project management involves directing and organizing each part of the project lifecycle, from ideation to completion. Project managers are responsible for planning, scheduling, and reporting project status. These individuals are often responsible for seeing that billion-dollar projects are carried out.
The software, then, provides the means to plan, track, and manage projects. It centralizes the data for teams the understand the state of the project and what needs to happen next. Project managers are able to use this information in order to make decisions.
The technology is evolving as well. With the advent of AI (artificial intelligence), the technology itself is becoming smarter. Data collection, analysis, and reporting are a large proportion of project management. AI will improve the outcomes of these tasks, including the ability to analyze data faster than humans and using those results to improve overall performance. Things like conversational AI and chatbots are emerging on the scene to use voice commands, rather than keyboards to enter data.
Gartner suggests this world of AI-led project management is coming sooner than we think—and in some cases it is already here. The analyst firm projects by 2030, 80% of the work of today’s project managers will be taken over by AI, helping with mundane tasks such as data collection, tracking, and reporting. This would enable project managers to get back to the task at hand—construction.
Another trend to watch, according to McKinsey, is the near-realtime collection of project data coupled with the integration of design, project management, and scheduling tools, which will further unlock the promise of platform solutions as companies strive for truly end-to-end digital projects. This trend isn’t necessarily a new one. Technology providers have long been aiming to provide an end-to-end solution for construction professionals, whether that be through an acquisition or product development.
As the technology continues to evolve, so too will the way project managers interact with it. Here’s hoping the project-management technology of the future will give project managers the means to complete projects on time and on budget, all while meeting quality and safety goals. After all, isn’t that the true objective of any construction company? If you are a technology company offering truly innovative project-management solutions to the construction industry, we want to hear about it! Consider entering it for the Constructech Top Products award.
Want to tweet about this article? Use hashtags #construction #IoT #sustainability #AI #5G #cloud #edge #futureofwork #infrastructure #projectmanagement