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In a recent article published by Procore, author Johnny Finity writes that builders have always relied on precisely-designed sets of plans to build great buildings. But as the construction industry rapidly digitizes to keep up with the growing demands and complexities of modern projects, productivity has remained a key concern.
Industry growth percentages have lagged behind the total world economy for decades, with project delays and broken budgets as key drivers. Studies have shown that around 30% of the work performed by construction companies is actually rework — accounting for 5% of a project's contract value on average.
To combat rework and cost overruns, the adoption of Building Information Modeling (BIM) technology has surged over the years, thanks to advancements in 3D modeling and gaming-powered software that made full-3D plans a reality.
Although there are many BIM solutions to choose from, most are difficult to use, inaccessible in the field, require advanced technical training, or don’t integrate with project management solutions. As BIM shifts from a nice-to-have to a necessity, those who fail to evaluate and leverage these benefits are at risk of falling behind in a rapidly-evolving industry.
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Procore helps firms drastically increase project efficiency and accountability by streamlining and mobilizing project communications and documentation. This real time data and accessibility minimizes costly risks and delays—ultimately boosting profits.