Trends in construction and large capital projects
Observations show that failure rates for large capital projects are consistently high. Learn how construction data analytics can help you mitigate risk and plan for success.
- Watch the video
- Construction industry challenges
- The value of analytics in construction
- The construction analytics solution
- Get in touch
Construction industry challenges
Large capital construction projects can be a project management headache. They’re often late, over budget, and poorly executed.
What do these projects have in common—aside from high failure rates? The construction industry suffers from the following common challenges:
- Repetitive reporting
- Multiple data systems
- Unprioritized and unorganized data
- Largely paper based reporting
- Lack of system connectivity
All of which makes it difficult for construction owners to find deep insights across their portfolio, reducing on-time, and on-budget performance.
The value of analytics in construction
Owners of large capital projects are increasingly turning to data analytics. Deloitte’s construction analytics solution helps organizations counter low-performing trends in construction by asking the “right” questions, of the “right” people, at the “right” time, to get data to assist clients with managing and improving performance.
Our rapidly deployable and easily customizable construction data analytics solution provides configurable dashboards and project sensing tools to help owners enhance portfolio and project delivery. As a result:
- Data calls can be reduced and consistent reports can be generated directly from the tool.
- Both structured and unstructured data collected from the disparate systems can be aggregated.
- Hard data and numbers can be transferred into useful and concise visuals, promoting efficiency, insight, and effectiveness.
- Transparency can be enhanced for project owners, producing reliable and insightful metrics to analyze their full portfolio of projects.
- Paper-based reports can be collected, read, and analyzed, and the information can then be input into the database.
- Data can be automatically imported from the various systems where it’s currently housed.
The construction analytics solution
Deloitte’s Construction analytics solution results in a dashboard containing real-time key performance measures at the project, program, and portfolio level by employing the following steps:
- Construction data, which typically resides in various systems and tools, including paper based processes, is collected and processed-initially manually-and later automatically as source data improves.
- A database platform is used to sort, analyze, and align the incoming data to enable consistency from the various sources.
- Data is then fed into a dashboard visualization tool delivering a consistent look and feel, with the relevant amount of detail for the intended audience. The visualization provides easy and efficient reporting on key performance measures at customizable reporting levels.
The construction analytics solutions analyzes real–time data against performance thresholds–assessing trends over time and transforming information into insight, enhancing decision-making and improving overall project delivery.