The latest release of Vitruvi™ covers a number of key features, including a new Permissions module, a new Pay Item type, and many other great capabilities.
Just because it’s right there in the industry name, doesn’t mean that companies responsible for building telecommunication infrastructure are immune to basic communication challenges that can set a project back.
According to a study by the Project Management Institute (PMI), 55% of project managers surveyed agreed, “the most crucial success factor in project management is effective communications to all stakeholders.”
4 Strategies for Network Providers Seeking to Offset Increased Infrastructure Costs
With each new generation of telecommunication technology comes a promise of increased speed, bandwidth and connectivity – all of which open the door to game-changing innovation. According to a 2018 report by Deloitte, 5G: the chance to lead for a decade:
5G is not simply an extension of 4G, nor is it merely a faster wireless capability. 5G makes possible the connection and interaction of billions of devices of almost any kind and collection of data from those devices. Indeed, 5G connectivity promises to lead consumers, industries, and governments to new frontiers of productivity and innovation.
According to research conducted by McKinsey & Company, “Cost overruns are the norm in the construction sector.” The report authors found that on average large capital projects take 20% longer to finish than planned and come in up to 80% over budget.
There are a number of reasons why construction projects go over budget: many of which could be mitigated if the industry was more proactive in embracing modern process and technology innovations, according to the study.
We have shared 10 of the most common reasons why construction projects go over budget – and how new technology can help change this.
The world is changing, and thanks to new technologies and new ways of thinking around productivity, workforces have more opportunity to connect and collaborate than ever before. Companies involved in the design and construction of large, complex construction management projects are becoming more efficient and more effective as a result.
Yet, for companies making the transition to this new way of doing business, it’s only natural for long-time staff members (even senior management) to want to stick with the way things have always been done. The status quo is comfortable. Change, on the other hand, can create fear, worry, stress and unease.
“Progress is impossible without change, and those who cannot change their minds cannot change anything.” – George Bernard Shaw
As a result, it can be challenging to convince your team to embrace change. To learn how to transform a 1980’s mindset into a 21st-century attitude I’ve looked to three authors who specialize in change and provided my own advice as a seasoned consultant in the change management realm.
At the outset of a project, and throughout various stages of its development, companies allocate resources they believe are necessary to meet tasks, objectives and deliverables. These resources can include everything from the materials to the equipment to the people required to get the job done.
The current proliferation of new technologies in the construction industry is happening at an unprecedented rate. In an industry that has traditionally been slow to embrace change, it is becoming apparent that companies that continue to drag their feet will be left behind.
EPC contractors are starting to implement technologies designed to make projects easier, and more efficient to manage. In doing so, they are increasing their ability to keep projects on time, on budget, while improving quality and accountability. The impacts to productivity will be profound.
According to MGI’s digitization index (December 2015), construction ranked among the least digitized industries in the world. In the United States, it placed second from the bottom. In Europe, it was dead last.
While the industry as a whole has been relatively cautious in implementing new technologies (perhaps due to its risk averse nature), it is poised to play catch-up in a big way.