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Trends and Challenges in the Construction Industry

In my opinion the most important trend in the construction industry is BIM,

which stands for "building information modeling". And, in short, this describes that

before you build in reality, you first build in virtual reality, and this means

that all the mistakes you potentially could make in real life, you eradicate

in the planning process.

In my view, digitalization will have the following effects: If you integrate

planning, production, and delivery on the construction site, combined with

just-in-time logistics and lean processes on the construction site, you will

realize plenty of efficiencies in between the steps in the value chain.

This will lead to significantly less cost for the customers and faster

delivery times. So, bigger customer benefits.

When companies work on digitalization, they should always keep in mind

what the benefit for the customer is. So, it's not about

digitalization per se. You should always keep in mind what's in it for the customer

and what's in it for you. It also involves quite a bit of experimenting.

It's a new journey that you embark on; not every initiative will succeed.

So, start multiple initiatives. The ones that succeed, make them bigger. The ones

that fail, fail them fast. Hire the talent that you need, and "ring-fence" it

if necessary.