Optioneering software analyzes several options and alternatives that project managers can use to solve a construction problem. An example of such a problem is when working on a linear project like road construction. The contractor can close down one or two lanes when building a road. However, each option chosen has a consequence, and in this case, the consequence revolves around time and traffic disruption.
To identify the option that results in the least disruption (while at the same time reducing construction time), contractors can use optioneering software. Construction optioneering platforms allow users to view numerous ways to implement a construction project. This can decrease construction time while reducing risk.
This ultimately gives contractors a competitive advantage, as it helps them save on labor and material costs.
Optioneering platforms use algorithmic equations to identify the best option or alternative for solving a particular problem. In other words, the proposed solution ranks against an efficiency scoring system. The higher the score, the better the option.
Some of the factors that determine how ideal a choice is are:
There are several types of optioneering. Life cycle cost optioneering is usable when building an eco-friendly structure. This is because it is suitable for identifying designs with the lowest carbon footprint. This means it will consume less energy and have a positive net present value.
One advantage of optioneering is that it enables designers to build better and more efficient structures. Optioneering can integrate with other technologies, such as BIM, to create more efficient designs. This means that architects can build eco-friendly structures with zero greenhouse emissions.
Architects can also use optioneering to compare designs and develop more efficient structures. One measure of efficiency is a building’s maintenance cost. In this case, the architect will consider the angle of natural light and air circulation.
Other ways to use optioneering in the construction industry include the following.
Optioneering can reduce construction time significantly. This is possible because optioneering platforms will consider several options contractors can use to cut down on the time to completion. For example, instead of having two cranes and a hundred workers, optioneering may suggest four cranes and seventy workers for great efficiency.
Though there will be an additional cost of hiring two more cranes, you can complete the project faster, resulting in significant overall savings.
The three primary resources of any construction project are labor, materials, and equipment. Without technology, it becomes difficult for project managers to allocate resources efficiently. This is especially true when working on a large construction project.
If resources are underutilized, there is the risk of delay. At the same time, profit margins reduce due to unproductivity. In other words, the project manager will pay workers for work not done. Similarly, overutilization of resources will result in decreasing productivity because labor will be overstretched. This, too, will cause delay.
It is for this reason that optioneering software is essential. Optimal allocation of resources ensures that there are no idle resources, which helps increase productivity while reducing costs.
One of the biggest challenges that affect a construction project is cost overruns. There are a lot of factors that can cause cost overruns. A change order, for instance, can increase costs, especially when a design requires a change halfway through.
Optioneering software helps reduce costs by evaluating the proposed design and materials. For example, the software will determine which material between bricks and concrete slabs is cheaper. In addition, a simple change in design can result in cost savings in terms of construction time and the material you use.
A maintenance schedule is a program of when maintenance work can be done. There are various considerations and a lot of factors when creating a maintenance schedule. One of these is the maintenance cost. To control this, the project manager must ensure they allocate resources like labor and equipment optimally.
Under or overallocation of resources will increase maintenance costs. Another factor to consider is the type of project it is. For example, maintenance work on a busy road is best when there is less traffic. The software will advise on the best time to maintain the road.
Optioneering software currently identifies options and alternatives in case of a risk. For example, if a project stalls due to budget constraints, the software can recommend design changes that designers can implement with the available budget.
In addition, if the project falls behind schedule, it can suggest options to ensure the design gets back on track. For example, the platform can suggest the installation of an additional crane and an increase in labor to speed up the construction project.
A few years ago, the most common way to develop a competitive bid was to reduce the cost of construction. This is, however, still the case when bidding for government projects. The problem with lowering costs is that the construction company squeezes its margin. Also, companies sometimes then lower their quality to stay within budget, which negatively affects their brand.
Optioneering platforms enable companies to be more competitive without squeezing their margins. The platform does this by developing more efficient designs and optimizing resource allocation. Also, as companies use more efficient materials in construction, the cost of materials automatically decreases, making the bid more competitive.
In conclusion, construction companies that want to be more competitive and profitable need to use optioneering software. It will enable them to efficiently allocate resources and make more competitive bids.