Post-it notes, checklists and manual inspections are no longer enough for efficient project management in the construction industry. It is also no longer enough to simply keep track of things as a project progresses; the information collected should provide measurable insights. Construction project management includes the coordination of many elements from labour and materials to timelines and budgets.
What place does AI have in construction project management to elevate these elements and uncover valuable insights? How can it help you manage legal disputes should you ever find yourself facing them?
The emergence of AI put the construction industry on the brink of a transformative era – this is no longer the case. AI is not simply a buzzword anymore and the construction industry has now been fully entered into this era.
Let us unpack exactly what this means for project management.
Decrease risks
There are numerous risks that can disrupt construction projects. It is not just health and safety risks that need to be considered. Quality issues, delays and unexpected costs all risk derailing a project just as much as a physical injury.
How can AI software help to mitigate these risks?
AI algorithms are capable of prioritising issues such as unsafe scaffolding, waterlogging and any lack of protective equipment. With this information, AI can identify potential risks and analyse the impact they are likely to have on projects. From here, mitigation strategies can be put in place to minimise project delays as well as improve stakeholder confidence.
A further risk construction projects can run into is contractual disputes. However, AI can even assist in these cases. Disputes commonly occur due to time, cost or quality issues – all things AI systems can keep track of and ensure the right information is needed to challenge a dispute.
Track spending
Construction projects will have to deal with direct and indirect costs. Direct costs are what can usually be included in a budget preemptively; for example, labour and material costs. While potential indirect costs can be predicted, these are costs that could potentially fluctuate as they are not directly linked to the project; for example, temporary site facilities and tools/equipment.
AI software can help project managers keep track of both direct and indirect costs. Costs can be easily monitored as they accrue. The benefits of saved time and money are obvious but perhaps the way in which AI will help you achieve this isn’t.
Using AI to track construction project spending can help identify errors, flag concerns before an error occurs, and make independent assessments and recommendations that will improve efficiency and ROI.
Competitive edge
The overall effect of using AI to improve the efficiency and costs of construction projects is giving businesses a competitive edge. In the long term, effective use of AI software in construction could lead to the ability to manage a greater number of projects and employees as a business grows.
It will also ensure businesses have all the information they need should they ever have to deal with legal disputes. Of course, in the event of a dispute, it is always advisable to seek legal advice. Mercantile Barristers will be happy to assist in these cases.
