Owners know that accurate data and information is critical to their project’s completion, especially for successful facility lifecycle management after construction has ended. But for decades, the construction industry has been plagued with a bad reputation for poor data retention, incomplete reporting and relatively imperfect contractor handoffs at closeout, with lifecycle management suffering as an outcome. Nonetheless, as the construction industry begins to shift more towards collaborative delivery methods with the help of new technology and software, shouldn’t data handoff be significantly improved? Not entirely.
The truth is, project teams continue to remain siloed in their use of technology. Studies show that inadequate interoperability, manual data handoffs and human error leaves owners, developers and facility managers liable for missing lifecycle data and as a result, rising lifecycle costs. In fact, an enormous 30% of initial data created during design and construction phases is lost by project closeout. As a result, owners need to recreate up to one-third of this data, a massive time and resource waste that puts the success of facility lifecycle management at risk.
In the construction industry as a whole, a much larger problem exists. According to some studies, $15.8 billion is lost annually in construction due to poor interoperability of technology. $10.8 billion of that cost falls to owners just to catch up, recover and replicate the bad data they are left with to begin with—a nightmarish form of digital rework.
But what’s to blame? To start, it’s not the actual technology itself, but today’s fragmented technology landscape contributing to insufficient data handoff. For owners, complete data is vital to their project’s success, but contractor’s and other project stakeholders will have different priorities, standards and systems, leaving them stuck with bad or incomplete data in the end.
So, how can owners start to control the data handoff in a way that allows them to be more successful after construction? To help owners better manage a successful data handoff, join our webinar to learn how to simplify the data handoffs from design, to construction, to operations and how owners can regain control of their facility data.
In our webinar, Simplify the Handoffs: An Owner’s Guide to Facility Lifecycle Data, we’ll discuss how technology can be utilized today to provide owners with a more holistic data picture for their projects to use from the start of the project, throughout construction, to seamless as builts and operations. We’ll start with a review of how data is collected today and what strategies owners can take to make data transfers more efficient. We’ll also discuss how to empower teams who have struggled with coordination in the past to retain data in one single system with the use of technology.
Update: This webinar has ended. Don’t worry, we saved you a seat. Check out the recording here.