Institutional and Commercial Construction Services

construction services

Institutional and commercial construction services require heavy-duty, specialized equipment. Unlike infrastructural and industrial jobs, commercial construction stakeholders are usually interested in profit.

Commercial Construction Services: More Than Construction

Institutional and commercial construction services encompass everything from the building to maintenance, upgrading, and renovating large structures. Contractors and builders are usually employed by private companies. With the unprecedented economic swings of 2020, construction predictors are best-guesses. But from 2014-2019, commercial renovation as a construction services industry rose 8.9%.

Five Ways Institutional, Commercial Construction Use Big Data

Do you know how the term “big data” came about? The concept is based on such voluminous information – data – that you can’t begin to comprehend it, let alone use it properly. It’s that big.

The advantages of using big data don’t occur naturally. You must first set clear business goals. Then you need to understand the power of data analytics. Finally – and most important – you need to learn how to put construction statistics to work.

Here are five examples of institutional and commercial construction services’ ways to use big data:

  1. Organization – Data can give you GPS coordinates, vehicular traffic information affecting the job site, and supplies/machinery routing to lower fuel costs and increase operational efficiency.
  2. Prefabrication – Large modules can be designed onsite and prefabricated elsewhere.
  3. Risk management – Commercial and industrial construction companies may have fewer-per-year projects than most construction services. This makes project pricing, staying within budget and on-time even more important. Big data can compare the subcontractors’ and suppliers’ dependability.
  4. Simulation – Many mistakes can be avoided. Frank Lloyd Wright said you can use an eraser on the drafting table or a sledgehammer onsite. Big data can reduce mistakes by comparing site conditions and limitations.
  5. Tracking – Losing a hammer is no big deal. Losing a bulldozer is a problem. “No other industry spreads its assets out geographically like the construction industry,” says project management analyst Rachel Burger.

Statistics for Targeted Marketing Data

Our customized building statistics can give you targeted, area-specific data that cookie-cutter construction software programs can’t. Contact Construction Monitor to learn more.

Growth in Institutional Construction Detected for the First Time in 6 Years

For the first time since 2008, the institutional construction sector is showing signs of growth. Institutional construction increased a modest 4 percent in 2014, in contrast to several years of either stagnation or declines, beginning in 2009.

institutional construction The uptick in the institutional sector was reported in the 2015 Dodge Construction Outlook, produced by Dodge Data & Analytics.

Growth in this sector is expected to continue into 2015, with a 9 percent increase expected in construction starts for institutional projects, including educational facilities.

The institutional construction sector includes schools, universities, healthcare centers, and other facilities that serve the public.

The previous lowered performance of this area of construction was caused by dependence on public funding for projects. During the eight-year period since 2008, such funding had been limited.

The Dodge Construction Outlook report indicates that increases are occurring in the construction of K-12 schools, fueled by the recent passage of several school construction bond measures.

Construction on university campuses is also set to increase as returns on investment by college endowments improve.

Healthcare facility construction has been stalled over the past few years due to volatility in the industry caused by healthcare reform. However, as the population ages and needs more long-term care, and as existing healthcare facilities deteriorate and require replacement, growth in healthcare construction is expected to increase.

For example, the Dodge report noted an anticipated healthcare construction growth rate of 6 percent in 2015.

The report also foresees considerable growth in entertainment and recreational facilities, possibly reaching a high of 10 percent.

Construction industry managers, contractors and business owners can rely on Construction Monitor for the most recent and accurate information on industry developments and trends, including institutional construction.

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