Viewpoint Construction Software, BKD LLP and FMI Corporation have teamed up to perform deep research into construction productivity issues in order to make practical recommendations for areas of improvement.
The lag in global construction productivity has been widely reported by a number of leading research firms and has been estimated at as much as $1.2 trillion dollars annually. Improving productivity by as much as 10% to 20% could make a huge impact on the construction economy, providing more funding and/or resources for critical infrastructure projects which have been traditionally underfunded.
Areas of potential research focus include: field productivity and performance, project risk profile assessment, collaboration and supply chain management. “We will be looking at the interplay of people, construction processes and data to uncover patterns and predictive trends,” states Maury Plumlee, VP Global Marketing, Viewpoint. The group's goal is to deliver its first phase of research and recommendations in the fourth quarter of 2017.
Together these organizations will employ cutting-edge tools, including Big Data & Analytics in order to identify trends that affect productivity. “We are extremely excited to partner with BKD and FMI in this venture” stated Plumlee. Viewpoint Construction Software runs mission-critical processes at over 5,000 contractors throughout North America. Daily, over 240,000 construction professionals access Viewpoint software to manage Office, Team and Field processes. “The data generated from these processes is rich with valuable insights,” says Plumlee.
BKD’s Big Data team will provide the tools and expertise necessary to evaluate terabytes of data that reside in Viewpoint ERP systems. “We will be collaborating with progressive Viewpoint customers who want to unlock the power of their data in order to improve processes and performance. It’s all about raising profitability while lowering risk,” states Jeremy Clopton, BKD’s Big Data & Analytics practice leader.
Tim Wilson, National Industry Partner for Construction & Real Estate at BKD LLP, is excited about the impact this alliance will have on the construction industry. “The opportunity to be a thought leader and change agent around productivity in the construction industry is exciting, and working with Viewpoint and FMI on this topic is collaboration at its finest,” says Tim.
FMI Corporation provides a comprehensive portfolio of management consulting services to the construction industry. “FMI is the blue-chip consulting standard in the construction industry and we are thrilled to have them on this team. FMI’s deep understanding and expertise in the areas of organizational performance, project management and productivity will be invaluable as we evaluate the data,” says Plumlee.
“We are extremely excited to provide our industry knowledge and expertise to help address construction productivity. It’s a big industry challenge, and we have the potential to provide real insights and value to contractors,” says Gregg Schoppman, Principal, FMI Corporation.