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The year 2024 has so far been interesting for the construction industry. Despite the financing challenges and fluctuating costs of material and labor due to economic shifts, experts anticipate a boost in construction for 2024. Contractors must prioritize precision, mitigate the risk of expensive mistakes and develop competitive bids to stay ahead in this evolving environment. Given this situation, the value of tried and tested solutions cannot be overvalued, and this is where Vertigraph shines. Thousands of contractors have used the company’s takeoff and estimating software to become more efficient and increase profit margin. “We have been in business for more than three decades now, and since the very beginning, our products have enabled us to achieve recognition in the industry. We never fail to meet and exceed customer expectations by adding substantial operational and strategic value,” says Erich Schoenkopf, president at Vertigraph.
Singular Source of Construction Estimation
For over seven decades, the construction industry has undergone a drastic makeover in regard to technologies and processes. However, there has been one constant in this rapidly changing industry—the groundbreaking solutions offered by Gordian. Gordian is a forerunner in construction cost data, software, and services for all phases of the building lifecycle. For professionals looking to budget, estimate and validate construction project costs, Gordian is helping clients deliver the highest quality results. Gordian focuses on the location and type of projects and uses them to create from simple to complex and accurate estimates for its customers. The company offers cutting-edge products and services to organizations that build and maintain the essential facilities and infrastructure our communities rely on. “Our team of construction cost data experts has built the RSMeans database that offers up-to-date information on cost data for the planning phase and over the building lifecycle,” informs Tim Duggan, Vice President of Data and Analytics at Gordian. “Our data can broken down from conceptual square foot models to assemblies to unit line item estimates, all within the RSMeans Data Online tool.” With decades of service across a wide array of clients, including contractors, architects, engineers, educational institution stakeholders and facility owners and managers, Gordian stands ahead of its competitors in the marketplace with its ability to produce accurate estimates that align with company vision, both present and future. In its calculations, the company empowers unit cost lines with the changing costs of material, labor and equipment required for the project estimation. “Our data is designed to be broad in scope—we use standard construction means and methods and compile it with the construction costs as well localization of cost influences to provide the most accurate data,” explains Duggan. The company’s data also proves beneficial in renovating buildings while accounting for the historical cost and understanding problems faced in the past to cut down on future expenses.
AI-Based Cost Estimation
In the realm of construction, managing building systems and assets involves a multitude of tasks and stages. Traditionally, general contractors have leaned on spreadsheets to track them, resulting in a decentralized approach that poses a challenge in overseeing project health and performance and meeting milestones due to the sheer volume of documentation and tasks involved. While the market offers various construction management software solutions, few effectively monitor asset progression throughout the construction journey. Revolutionizing the landscape of construction management, Facility Grid brings its operational readiness platform. This groundbreaking platform introduces a unified hub for overseeing and coordinating the diverse components of a project. It offers stakeholders centralized visibility into the project, from inception, design, and pre-construction evaluations through to installation, quality control, startup, commissioning, training, and warranty phases. Acting as an ever-watchful guardian, the software facilitates a meticulously orchestrated transition through every facet of operational readiness within the construction lifecycle, marking a new era in project coordination. “Our platform centralizes and establishes a singular source of truth for all components of MEP systems in buildings, providing crystal-clear visibility into their progress throughout the entire construction process,” says Eric Forman, CEO & president of Facility Grid. Diligently tracking activities, quality control measures, and documentation, Facility Grid’s platform helps in the early identification of construction issues, which assists clients in sidestepping delays and achieving the highest standards of quality control. One of its distinguishing factors is the incorporation of native mobile applications for a variety of devices and its support for QR codes, enabling quick and convenient access to MEP equipment records. The software’s distinct timeline tracking function overlays project schedules with real-time progress data, offering clients an effective means to monitor project milestones.
IN FOCUS
A CLOSER LOOK AT COMMON CONSTRUCTION ESTIMATING MISTAKES
The construction industry is filled with complexity and nuances when it comes to accurately estimating and forecasting project costs. It is a vital component in any construction business as it can mean the difference between a profitable and unprofitable project.
Construction Management Tech Advances
The construction industry has witnessed significant changes driven by technological advances and an increased emphasis on sustainability. The trends are reshaping how projects are planned, executed, and managed. The BIM represents the physical characteristics and functional features of a building or infrastructure digitally. BIM enhances project coordination and reduces errors by using a centralized platform for stakeholders to share information. It allows for creating a collaborative 3D construction model that integrates design, scheduling, and cost estimation—some key construction trends and innovations transforming the industry.
EDITORIAL
The Rise of Construction Estimating Software
In the ever-evolving landscape of the construction industry, the tools and technologies that drive efficiency and accuracy are continually advancing. As we navigate through 2024, construction estimating software stands out as a critical component in the arsenal of contractors, project managers, and developers. These tools have undergone significant transformations, integrating cutting-edge technologies to meet the growing demands of the industry.
The shift towards cloud-based solutions continues to gain momentum in 2024. Cloud-based construction estimating software offers numerous advantages, including real-time collaboration, accessibility from any location, and seamless updates. These features are particularly beneficial in a post-pandemic world where remote work and distributed teams are more common. By providing a centralized platform for all stakeholders, cloud-based tools facilitate better communication, data sharing, and project management, leading to more cohesive and efficient project execution.
Building information modeling (BIM) has been a game-changer in the construction industry, and its integration with estimating software is becoming increasingly sophisticated. Modern estimating tools are now capable of directly importing BIM data, allowing for more accurate and detailed cost estimations based on 3D models. This integration reduces errors associated with manual data entry and ensures that estimates are aligned with the actual design and specifications of the project. As BIM continues to evolve, its synergy with estimating software is expected to enhance project visualization, planning, and execution further.
As the construction sector continues to embrace these innovations, the potential for improved project outcomes and greater efficiency becomes increasingly attainable. The future of construction estimating is bright, promising a new era of precision and productivity.
In this edition, we have featured Vertigraph. The company’s focus on continuous improvement keeps its software at the leading edge. It utilizes customer feedback to deliver updates roughly every 18 months. This ensures contractors have access to the newest tools and features, empowering them to handle projects with confidence and efficiency.
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