Construction is one of the most important industries in the United States. It is responsible for employing more than 6 million people around the country. It generates about $1 trillion of properties annually. It even creates over 4,500 jobs.
The industry has also been around since time immemorial. It then begs the question, how far has it gone over the years? What are the changes, and are they positive or negative?
Construction is one such industry that continues to embrace innovation. It is understandable as it’s a costly business as well. Companies would welcome anything that could reduce their expenses without compromising quality.
One of these is building information modeling (BIM). It is more than designing the building or home. It is a process involving the major participants in its creation. These can include the electricians, plumbers, contractors, and architects. They collaborate on the particular project simultaneously.
It significantly improves the communication among the departments. It also avoids potential delays. A BIM company such as phicubed.com can develop the blueprints to make the coordination easier.
2. Length of Construction
The length of time to complete a building has increased over the years. For example, in 1971, the average time was 4.8 months. Fast-forward in 2017, it was 6.5 months. During the recession, construction took much longer at around seven months.
A small multifamily housing, on the other hand, can take an estimated 11.4 months. Not all of the months revolve around the actual construction, though. The time it takes to receive an authorization to start can be as long as two months.
The construction period can vary based on many factors. These include the actual building, workforce, supplies available, the speed of permit approval, and a whole lot more. For instance, there’s a critical shortage of labor.
It can then dampen the industry outlook and delay the rehabilitation efforts after the strong hurricanes.
Construction is like any other industry: it has strengths and weaknesses. With technologies available, though, it may be able to thrive despite the shortage of workers.