As part of their Global Industry Council initiative, Oracle’s Aconex spoke with several industry experts about how organizations can move towards digital success and save $1 trillion by embracing digital transformation.
GIC members AECOM, Bechtel, Chiyoda Corporation, Fluor, Lendlease, and TAV Construction worked together to identify key challenges, outline solutions, and share examples of success.
In a recent webinar series, engineering and construction (E&C) leaders revealed how digital transformation can positively transform construction professionals’ day-to-day work.
In the Fall of 2017, Aconex gathered nine high-profile UK construction professionals working at leading organizations— including Skanska and Atkins— to discuss how we can embrace digital transformation in engineering and construction (E&C).
The meeting was held at Building Magazine’s headquarters in London— the #1 leading construction publication in the United Kingdom.
Round table attendees included:
- Skanska: Malcolm Stagg, Director of BIM & Digital Engineering
- Atkins: Neil Thompson, Head of Digital Transformation
- Peter Trebilcock, Consultant Architect
- Wates: Lucy Abbott, BIM Director
- Sir Robert McAlpine: Nick Leach, BIM Manager
- BAM Nuttall Limited: Ivor Barbrook, Head of Planning and Digital Construction
- Allies & Morrison: Jo Bacon, Partner
- Allies & Morrison: Matt Olsen, BIM Lead
- Oracle’s Aconex: Steve Cooper, General Manager, UK&I
Whether in the back office or in the field, construction teams need to be connected on the latest changes and updates to files like blueprints, drawings, schedules, and more.
That’s why we’re expanding our partnership with Oracle’s Aconex, to provide more freedom to connect workflows with content in a unified home for work.
With the Aconex and Dropbox integration, you can reduce double data handling, drive accountability, and access reporting and insights across all project data and processes from one single source of truth.
Dropbox files can be shared, distributed, updated, tracked, and searched in controlled workflows across many different organizations connected on projects in Aconex.
Throughout our GIC report series, we’ve focused on how digital transformation can powerfully shift the engineering and construction (E&C) industry.
The Boston Consulting Group (BCG) notes that E&C can expect annual savings— up to US$700 billion to $1.2 trillion— by embracing digital transformation.
The E&C industry must heavily invest in technology for project delivery to achieve these numbers.
As we’ve heard from many clients, one of the biggest challenges is defining innovation metrics to assess project performance. So, how can E&C develop a solid ROI to capitalize on this massive potential savings at an organizational or project level?
Organizations can follow the traditional construction project measures, such as:
- Financial return
- Breakeven points
- Planned value = planned % of tasks left to complete x project budget
- Actual cost of work performed = the amount of money spent on a project to a certain date
- Cost variance = planned budget against the actual budget
I’ve worked as an Industry Consultant in the Engineering and Construction space for many years.
I’ve noticed a common theme: whenever I’m presenting a modern software solution— particularly a tool featuring a new, disruptive approach to a business problem— I’m often met by some degree of resistance from a few in the audience.
Skeptics often claim they can use a spreadsheet faster than learning and implementing a new software application. That may be true in some instances, but it doesn’t make it right.
Download: Five Keys to Unlocking Digital Transformation
For example, during one presentation I attended, the audience unanimously agreed that their existing system and business processes were inefficient, expensive, hard to learn, and administrative-heavy. Two individuals who disagreed with this assessment were an IT administrator and internal developer—both intelligent and competent professionals.