The role of construction and engineering in the post-recovery period of COVID-19 has assumed greater importance says, Jason E Fisher. One of the reasons why the construction sector matters most during this period is due to the requirement of additional hospitals and healthcare centers to accommodate the ever-increasing number of patients admitted into hospitals for their treatment.
However, it was not smooth sailing for few places where the industry suffering heavy losses since several sites were shutting. The sites that remained open, faced disruptions as far as the supply of raw materials and building items were concerned.
This was recording as per financial indexes that manifest a drop in public engineering, construction, and building materials or ECB.
In this post, let us find out how things are taking shape in this sector during these troubled times.
Jason E Fisher highlights the long-term and short-term trends in this sector
Indications are that due to the pandemic, the rate of disruptions is increasing and perhaps will continue to do so until the new normal becomes stable. Check out the trends in the paragraphs below. Let us first go through the short-term trends followed by the long-term trends.
Short-term trends
Read on to know more.
Increased digitization
More and more companies are allowing their workforce to work remotely by using various kinds of digital media. The engineers and designers are using more of the BIM or building-information modeling and other digital collaboration tools during the pandemic.
4D and 5D simulations are using these days to plan and replan projects, optimize assignments, and work out concepts.
Aside from the above, you will also get to see rebalanced supply chains. Engineers are planning inventory, identifying long-lead items, and obtaining critical materials.
Long-term trends
More and more players in this sector are striving hard to consolidate and support investments in various sectors like technology, R&D, talent hunting, and IT-related fields.
You will also observe says Jason E Fisher that there is an increasing tendency for vertical integration to enhance efficiency. Not only that, but it is also a means to standardize the control and design of the projects that are undertaken.
Experts believe that in this period of the pandemic, vertical integration that comprises depending on direct labor could be an avenue to more resilience.
Another long-term trend that is increasingly becoming prominent is the digitization of building systems. Before the COVID-19 crisis, it was that there is a shortage of skills in labor. With social distancing norms in place, this lack of skilled labor at the sites of construction might become more pronounced at least till things do not get back to normal.
However, on a positive note, you will find that using digital tools that enhance productivity. Progress tracking in real-time, automating workflow management, 4D simulation, and schedule optimization. Are few areas that will gain immense prominence and will be here to stay for some time now.
So, till time things do not get back to normal. The short-term and long-term trends will usually dictate the terms in this sector for the near future.