3 Industry Trends from Summit of the Americas

By on Jun 7, 2016

In a really interesting article on ConstructionDive.com, editor Emily Peiffer outlined three of the major construction industry trends discussed during the Summit of the Americas, an event sponsored by the Royal Institution of Chartered Surveyors (RICS) and held in Washington D.C. in mid-April.

(Read the full article: http://www.constructiondive.com/news/3-concepts-that-will-shape-the-future-of-construction/417049/)

What makes it so interesting? RICS is headquartered in the United Kingdom. When it comes to construction trends, we tend to focus solely on opinions from here in the United States. But when you consider things happening around the world, different ideas of where the industry is heading take shape.

When considering these trends and include an international perspective, we are quite excited about the possibilities within the construction industry worldwide.

Here are Peiffer’s selected trends and some of our comments on each.

  1. Big data

It’s tough to go anywhere these days in just about any industry without hearing a discussion about big data. What is big data? It’s essentially massive amounts of information that — when analyzed carefully — can provide remarkable insights about future development. And that’s the big key — careful analysis. Peiffer correctly identifies that sometimes with the overwhelming amount of data available to us, we become paralyzed with what to do with it. But by putting this information to work, we can better predict needs and results on construction sites among many other things. The potential is exciting.

  1. High-performing buildings

Yes. Yes. Yes. This concept hits extremely close to home for us. The trend being discussed here is the ability to create buildings and consider their long-term lives as opposed to the short-term costs. Peiffer outlines several reasons for this, including environmental impact and the cost of maintenance throughout the lifespan of the building. But the part that really excites us is the growing need to address what the article refers to as “acts of God,” including all sorts of natural disasters, including fires. We couldn’t possibly agree more. Spending money upfront in protecting a building and making it as environmentally-friendly as possible is extremely important and a worthwhile investment. We’re thrilled that this is a trend not just here in the United States, but in construction around the world.

  1. Collaborative contract approach

This one is a bit trickier to unpack. The concept here is the collaboration between public and private entities on contracts. When it comes to construction projects, collaboration can at times be tricky and even messy, thanks to outdated language within written contracts. It also brings a bit of fear in working with the “unknown,” as to this point public and private sectors have not worked together much at all. But working together brings innovation, and it’s a trend that we’re very interested in learning more about. Change isn’t easy, but it can bring about great things.

So, what are your thoughts on these trends? Are there others that you’re watching for in the industry? If you have questions about this or other topics, please send me an email or visit our website www.flamedxx.com.