Feature
Building a data-driven future
for the construction industry
By Rachel Personius, our data and sustainability expert
Robust and accurate data can be the difference between project success and failure. A budget or estimate based on either scant or inaccurate data can be costly, causing constant friction throughout the project, impacting the certainty of decision making and ultimately affecting the overall performance of the investment.
Rachel Personius Director, USA Currie & Brown
Feature
Building a data-driven
future for the construction industry
By Rachel Personius, Director, Currie & Brown
Robust and accurate data can be the difference between project success and failure. A budget or estimate based on either scant or inaccurate data can be costly, causing constant friction throughout the project, impacting the certainty of decision making and ultimately affecting the overall performance of the investment.
Rachel Personius Director, USA Currie & Brown
To build more resilient projects, we need to embrace data and technology
At Currie & Brown we carefully track and capture all project costs and scope throughout preconstruction, construction, and project closeout. We systematically collect, store, and analyse this information, using artificial intelligence and predictive analytics to improve the certainty of cost outcomes on projects.
When approaching a new project, we can create a realistic, dynamic, and accurate budget based on real, historical data points. The quality and depth of our data helps us anticipate actual costs and adjust budgets accordingly. We also compare new projects to previous and analyse similarities, differences, successes and failures to help influence early investment or feasibility decision for clients.
Using data to analyse "what if"
Extensive data allows us to dig into the ‘why’ when analysing costs. We can understand in detail what are the key cost drivers of a particular asset class and where efficiencies can be made. What happens to the cost if we change the design? What if new trade tariffs cause certain material costs to skyrocket?
Data modelling and analytics allows our project teams to understand cost impacts of varying the project size, space types, location, risk scenarios, and design attributes instantaneously without spending time designing, estimating, value engineering, and re-designing. A client and the project team can therefore make design decisions even before there is a design, potentially saving significant time, money and energy without sacrificing scope.
By using data to create an initial benchmark study for a project we can quickly identify if/when any system costs fall outside the expected range. In one recent project we identified that the external wall costs were expected to be outside of the ‘typical’ range despite the project being a simple, standard office building without expensive glazing or feature materials on the exterior.
By comparing our benchmark data with the forecast costs and the design we were able to conclude that the wall to floor ratio for this project well exceeded the ratio from comparable projects. The project team were quickly able to share this insight with the design team to reduce the external wall area and realise cost savings without loss of scope.
By using data to create an initial benchmark study for a project we can quickly identify if/when any system costs fall outside the expected range. In one recent project we identified that the external wall costs were expected to be outside of the ‘typical’ range despite the project being a simple, standard office building without expensive glazing or feature materials on the exterior. By comparing our benchmark data with the forecast costs and the design we were able to conclude that the wall to floor ratio for this project well exceeded the ratio from comparable projects. The project team were quickly able to share this insight with the design team to reduce the external wall area and realise cost savings without loss of scope.
This is just only one example of how to use data modelling and analytics to guide and inform asset investment and design decisions, with the opportunity to apply this approach to any asset type.
Data is the key to more cost-effective, sustainable projects
We have successfully expanded our data modelling and analytics service offerings by adding embodied carbon data alongside construction costs in our global database. This allows us to understand how optimising one variable (cost or carbon) impacts the other. We can answer questions like ‘what are the cost, carbon and schedule impacts of using green concrete?’ and provide guidance on finding the most cost-effective ways to achieve our environmental goals. In this way data can unlock innovative solutions, like exploring new materials, embracing off-site construction, and integrating renewable energy sources.