Construction project managers, whether they’re working on large capital construction projects or smaller jobs, tend to focus on three, overlapping concerns: delivering the project on time, delivering it at or under budget and and executing it well. However, most projects fall short of one or more of these goals, negatively affecting customer satisfaction, organizational morale and the ever-important bottom line. The technological advancements of the past few decades have brought plenty of gains to the industry, including time savings, cost cutting and better systems and quality control, so why is it still so hard to complete a project on time, at budget and in a well-executed manner?
Turns out the construction industry, like a lot of industries, is still partly stuck in the past. According to Deloitte, vestigial challenges — think repetitive reporting, too many disparate data systems, data that’s disorganized, paper-based reporting and lousy system connectivity — keep well-intentioned project managers from hitting their goals, even while they leverage tech.
While there are a number of different ways construction project managers could successfully tackle these problems, embracing M2M technology and all it offers, is arguably the fastest. M2M, that malleable little acronym that refers to any communication that’s Machine-to-Machine, Mobile-to-Machine, the Internet of Things (IoT), etc. has been gaining steam for a while, but equipment-centered companies have yet to fully leverage its potential.
And what is its potential? Well at the bare minimum, M2M tech makes it easy to track and geofence gear. Not only will geotracking and geofencing cut down on theft and unauthorized use, utilizing the technology will likely save you money on insurance costs, too. Additionally, M2M sensors can push automated DTC alerts and fault codes to worker and manager cell phones. Real-time alerts like these enable quicker response times to equipment needs and repairs, which helps reduce downtime, while simultaneously extending gear life and increasing resell value. But perhaps the most exciting and underutilized potential within M2M technology is telematics-generated data. When gathered and applied, this valuable information can be leveraged to improve fuel economy, routing, operator training, machine utilization, operations and a whole lot more.
Next week we’ll discuss how construction project managers and others working in equipment-centered roles and industries can best apply this new tech so it yields the best possible results.
If you're looking for an M2M and telematics solution to improve work and extend gear life at your company, schedule a GearJot demo today.