PMIS trends in Capital Projects: How technology and its adoption are shaping the capital projects

PMIS trends in Capital Projects: How technology and its adoption are shaping the capital projects

PMIS trends in Capital Projects: How technology and its adoption are shaping the capital projects

Introduction:

Digital Transformation in the construction of Capital projects is increasing day by day. Now it’s even going a level up with all new innovations and technological advancements. As we move further into the digital age, technology is playing an increasingly important role in shaping the way it works. In recent years, we have seen the emergence of many new Technology trends providing ease of business to project owners

However, the adoption of new technology is not just about acquiring the latest tools and software. It also requires a deep understanding of how the software can be integrated into existing workflows and business processes. Besides the PMIS system, having the team of well-experienced PMIS Consultants for capital project can actually be a game changer for the owners. Adopting the apt PMIS solution along with the right expertise, can help owners streamline their operations, increase efficiency, and ultimately achieve greater profitability. In this blog, we will explore how adoption of some of the latest PMIS trends in helping capital project owners stay ahead of the curve.

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Here are the 4 major trends in capital projects technology:

1. Cloud-based PMIS: Adoption of Cloud-based PMIS (Project Management Information Systems) is helping project owners make real time decisions to improve resource allocation and reduce costs. Here are some advantages of using cloud-based PMIS:

Improved Collaboration: Cloud-based PMIS allows for improved collaboration among team members, as it provides a centralized platform for sharing and accessing project data. This ensures that all team members are working from the same information, reducing the risk of errors and miscommunications.

Real-time Access: Cloud-based PMIS provides real-time access to project data from anywhere, at any time, which is particularly beneficial for remote teams and project owners who may be working in different locations.

Enhanced Security: Cloud-based PMIS offers enhanced security measures such as data encryption, regular backups, and secure access controls. This ensures that project data is protected from unauthorized access, loss, or corruption.

2. Mobile Technology in PMIS:

At OnIndus, we are experts in designing custom-made applicationsto manage different aspects of your PMIS. With this, we offer Ease of Use to the owners. We, as PMIS consultants, understand that theMobile technology has transformed the way construction projects are managed, enabling greater flexibility and real-time access to project data. Here are some benefits of mobile technology in PMIS:

Increased Productivity: Mobile technology allows project team members to access project data and information on the go, enabling them to make faster decisions and work more efficiently.

Continual access: Mobile technology provides real-time access to project data from anywhere, making it easier to keep track of project progress and make timely decisions.

Improved Communication: Timely communication through mobile technology is the key to successful collaboration among project team members, no matter where they are, leading to reduced delays.

3. Big Data Analytics in PMIS

Big data analytics refers to the process of analysing large and complex data sets to identify patterns, trends, and insights that can be used to improve decision-making and drive business outcomes. In the context of capital project management, big data analytics can help owners gain greater visibility into project data, identify potential risks and opportunities, and optimize project performance. OnIndus is known for having the team of PMIS consultants who have the experience of managing the large volume of complex data, delivering analytics, forecasting reports and creating the reports out of it for further decision making. 

Potential Benefits of Big Data Analytics in Construction Project Management:

Improved risk management: By analyzing project data, construction owners can identify potential risks and take proactive measures to mitigate them before they become significant issues.

Enhanced project performance: Big data analytics can help project owners to identify inefficiencies in project workflows and processes, enabling them to optimize project performance and deliver better results.

Better resource allocation: By analyzing data on project resources, including cost, materials, and equipment, construction owners can make more informed decisions about resource allocation, improving efficiency and reducing costs.

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4. Predictive Analytics in PMIS:

Predictive analytics is one of the latest trends for construction projects, which involves the use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data. It has the potential to transform project management by providing valuable insights into the project’s progress, predicting future outcomes, and minimizing risk. 

Benefits of using predictive analytics in construction project management:

Improved project planning: By analyzing historical data, predictive analytics can help construction owners better plan for future projects by identifying potential bottlenecks, resource constraints, and other issues that may arise.

Early identification of project risks: Predictive analytics can help construction owners identify potential risks early on in the project lifecycle, allowing them to take proactive measures to mitigate those risks.

Increased efficiency: By providing insights into project performance, predictive analytics can help construction owners streamline their operations and improve overall efficiency.

Potential Benefits of Big Data Analytics in Construction Project Management:

Improved risk management: By analyzing project data, construction owners can identify potential risks and take proactive measures to mitigate them before they become significant issues.

Enhanced project performance: Big data analytics can help project owners to identify inefficiencies in project workflows and processes, enabling them to optimize project performance and deliver better results.

Better resource allocation: By analyzing data on project resources, including cost, materials, and equipment, construction owners can make more informed decisions about resource allocation, improving efficiency and reducing costs.

Adoption of Technology in Capital Projects

Adoption of Technology in Capital Projects

A Regional Transportation department deployed a Project Status dashboard created by OnIndus

Recently, a Regional Transportation department got a Project Status Update dashboard created that supports timely updates, project information sharing, removing data duplication thus benefiting in huge savings on timely tasks. Some of the key benefits are highlighted that might interest you.

  1. Process timelines reduced by half
  2. Saved 5+ hours per month of Project Managers’ Time
  3. Digitization of manual information gathering process
  4. Implementation, execution and revision in just 60 days

How a public works client automated its reporting workflow that helped it make informed decisions

  1. Reports automatically delivered to project owners and decision makers.
  2. Three-week engagement replaced two years of a manual and time-consuming report tasks
  3. Reports delivered automatically at designated intervals on an on-going basis.

Conclusion

Capital projects technology trends are shifting towards using automation and AI to improve speed and efficiency in overall project delivery. To match this demand solutions like PMIS are becoming more capable and intelligent by the day to support quality, cost & project speed.

The successful implementation of these technologies requires expertise in selecting, customizing, and integrating the appropriate solutions that meet the unique needs of construction projects. The right expertise can help extract maximum value from these technologies and ensure that construction projects achieve their project goals.

At OnIndus, we have a team of experts who specialize in construction project management technology. We offer PMIS consultation services that can help you select, implement, and customize the right PMIS solution that meets your specific project requirements. Contact us today to learn more about how our expertise can drive innovation in your construction projects.

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