The cost of new technology is one of several reasons why the industry has been slow to adopt new technology and innovative processes. Fortunately, purchase price points continue to decrease over time and more options such as rentals, leasing, and rent-to-own are helping companies dip their toe into technological advances. Another is the typically steep learning curve associated with IT and cybersecurity requirements.
Technology can transform and increase efficiency in key stages of a construction project. Some of these stages include RFP (Request for Proposals), pre-construction, bidding & awarding, and the actual construction phase. This paper highlights emerging technology that supports each stage to help increase efficiency.