Construction technology should target sources of profit loss, such as downtime, rework, budget overruns and safety incidents. Here are proven investments with measurable ROI.

The concept of 3D modeling has been valuable in producing geometric representations of blueprints. Building information modeling takes it a step further by creating and managing extensive project data, including costs, materials and schedules.

Reality capture through drones and sensors is versatile, as these tools can be used for site surveys, progress monitoring and safety inspections. Combined with machine learning, progress reports become accurate enough to improve worksite safety for workers.

As important as technology is, certain buzzwords have innovative potential but are risky or have low ROI. Firms should practice more careful consideration to avoid poor technological investments and implementations.

Differentiating between technological investments that deliver measurable results and those that are simply buzzwords can be challenging. It’s important to take the time to analyze these prospects. Here are tips to help construction industry professionals choose the right ones.

Instead of chasing technological solutions based on what’s popular, focus on what problems the construction business is actually facing. For instance, to improve equipment lifespan, predictive maintenance analytics would be most effective.

Start by defining a problem and then work from there. If there are no clear areas for improvement, take the initiative to identify what would positively impact the company’s profits.

As high as the ROI may be for certain technologies, it’s still important to understand any risks associated with their implementation. Small- to medium-sized companies, especially, should be vigilant about where they invest their money.

For instance, BIM is ideal for improving planning. However, implementation costs can be relatively high, with some services charging monthly or annual fees, depending on the scale and complexity of the project.

Incorporating new technologies can become much smoother when employees are involved in the process. Managers should provide adequate training sessions to familiarize construction teams with using these tools, ensuring greater success and better results.

Training can also translate to a more positive evaluation of the pilot project and encourage buy-in from business leaders. Seek their feedback to explore any adjustments in the implementation process when it goes companywide.

Technological adoption should enhance profitability and productivity in the construction industry. Evaluate industry solutions before integrating them into the project process to ensure that upcoming investments have a real impact.