Three ways to lower construction costs while meeting customer needs

May 22, 2020 21

The smallest construction companies have numerous moving parts. Between marketing, project cost estimations, ordering materials, making blueprints, managing employees, and physically building, construction is a multi-faceted business.

The more steps a project involves, the potential for errors is much higher. Lengthy, multi-step projects can also incur a lot of expenses. If you own or manage a construction business, consider the following tips for lowering construction costs.

Use cost estimating software for construction

Construction appraising has relied on manual searches for material prices and time-consuming calculations for years. However, commercial cost estimating software has risen in popularity among construction companies. This technology not only saves time and labor, but it also ensures greater accuracy when estimating project costs.

What can cost estimation software do? The tool uses live data (current market prices) to calculate the cost of materials and labor that a given project will require. Some cost estimation software systems even know how to calculate the price per square foot, making it much easier to come up with accurate estimates for complex, largescale builds.

Making your cost estimation process faster, more detailed, and more precise will help your business save and generate profit in many ways. Proper cost estimation prevents overspending on materials that are cheaper elsewhere and helps to establish employee pay rates. Using cost estimation software will also build your company’s reputation when it comes to bidding. By producing in-depth reports quickly, you’ll be more likely to beat out the competition and secure jobs.

Investing in augmented reality

Construction processes are continually changing. Drones, 3D modeling and augmented reality (AR) have taken over. Nearly gone are the days of sketches, plan designs, and paper drawings.

AR typically entails the 3D projection of project designs for construction. With detailed projections, contractors can walk through entire builds with clients before work begins. The technology helps clients envision the final product before signing off.

AR has a wealth of construction uses beyond conception. It can be used by architects, contractors, and even builders to make their jobs easier. Additionally, it makes collaboration more straightforward.

For example, architects and contractors can use AR for design analysis, which identifies potential problem spots. Walking through a 3D project together allows for smoother transitions between the design phase and physical construction.

The technology makes approval processes more time-efficient, saving time in the process. AR’s level of precise planning helps to prevent schedule delays. It can also avoid costly errors and reduce cost overruns as a result.

Finally, the collaborative element of using AR improves client satisfaction, ultimately leading to future work opportunities.

The starting costs for AR can be expensive, but its implementation can help cut project costs.

Adopting automation in construction

Machine automation has revolutionized the construction industry. Compared to manual labor, automated work is generally safer, more efficient, and more accurate. What can automation do for construction companies?

Firstly, automation can ensure consistent, high-quality work, eliminating human error.

Secondly, automation helps complete tasks that are physically demanding and injury-prone. This includes repetitive tasks, leading to injuries and burnout.

Thirdly, automation can substitute human labor. Not only does this increase output and work efficiency, it can eliminate most worker training. As a result, this would not only cut costs, but eliminate injury chances in hazardous settings.

Finally, this allows for work to be completed around the clock. Outside of regular maintenance, machines don’t need to take breaks.

Making decisions with long-term impacts

While the construction technologies listed can be costly, investing in these options can dramatically reduce costs in the long-term. Furthermore, they will help your business stay competitive in the crowded, ever-changing construction market.

By implementing one or more of these systems, you can transform your construction business into a powerhouse in record time. More importantly, you’ll find loyal clientele and grow your reputation within the industry.