Tool Time. IoT and Construction Site Equipment

Posted by Carmi Brandis on Aug 17, 2017 5:00:00 AM
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Seemingly endless building projects—and jokes about construction cranes being the official bird of any given city—would lead you to believe the building industry works as a well-oiled machine. Reality is quite different, unfortunately. According to a report by McKinsey & Company, large construction projects typically are 80% over budget and take 20% more time to complete than planned. In fact, productivity even has declined in some markets, and even in healthy ones contractors face highly volatile financial returns. Given the majority of new buildings and houses are essentially customized, not prefabricated, there is a lot of room for waste and error, especially when it comes to ‘little’ things like tools.  

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