The real estate industry has been slow to adopt proptech, or property technology, due to concerns around cost, integration into existing systems, and data security. However, with $31.6 billion in annual revenue generated by the proptech sector in 2019 and an increasing market expectation for online transactions, real estate companies must adapt to stay competitive. A cost-benefit analysis shows that investing in proptech yields a positive return on investment, prepares companies for the future, and ensures that they stay ahead of the curve.
Discover how a real estate development software can help tackle the challenges that real estate developers face in their real estate development projects.
Excel spreadsheets have long been a staple in the construction industry, used for everything from tracking project expenses to managing schedules. However, while they may seem like a convenient and cost-effective solution, spreadsheets often become a liability on construction projects.
The environmental agenda is focused on all industries, but a distinctive remark is that buildings and construction are responsible for 39% of carbon emissions globally, according to the World Green Building Council. Effective ESG programs now underlie corporate risk management and strategic business imperatives
Innovation involves incorporating new ideas that generate changes to help solve the needs of a company and increase its competitiveness. In the construction industry, the application of innovation it's not simple, despite the importance of this particular sector. Every development project is different, hence real estate companies have to adapt their processes and resources to suit each project’s needs. Innovation in the real estate development industry can be standardized as long as it is treated as a process.
Constant change is critical in any industry. Especially if you need to win. In today’s world, digital transformation is a significant factor to survive not only to win. The construction industry is not an exception. It is slowly adopting digital processes replacing inefficient conventional workflows. But still, the question remains. Are we doing it right? Would creating a digital twin of an inefficient workflow can make things magically better? Probably not. But we need to dig deeper to understand what is happening in the current industry
All projects are intrinsically driven by three variables: cost, schedule, and scope of work. At first sight, scope of work isn't always easy to understand what it means and how does it relate to cost and schedule. The reality is that these three variables are dependent on each other and co-exists at all stages in a project.
The two main components of a project development schedule (aka project programme) are activities and milestones. These can be tracked in a couple of important aspects: dates, and completion status. In this article, we will take a deep dive into the details and explain how it all works.
When someone is referring to a project's budget, it can mean many things. It's important to have a clear definition of what is being communicated and ensure all stakeholders are clear on these definitions. In this blog we will help you navigate the different budget types and what each of these means.
So, you’ve confirmed your plan. It’s set in stone. Or, is it? Of course not. Nothing ever goes entirely according to plan, not even in the most well thought out project. And though changes are often thought of in a negative perspective as a troublesome event, there are ways of working to make changes less of a headache
Any well executed project must have a great plan, also known as baseline. But what is that, really? In this blog post we’ll discuss what a project baseline is and how you use it to monitor and execute your project with excellence. And, of course, how Estabild works with these features to make your monitoring process smooth sailing.
You’re probably familiar with the term Earned Value Management, but let’s take it from the beginning and break it down. Earned Value Management helps you measure project performance and progress in an objective manner...
You are probably familiar with the issue (or fear) of going over budget on construction projects. Not an unusual problem, but until now, there has not existed a particularly good solution. We at Estabild decided to change that and today we are proud to present our own solution for construction project monitoring.
Delays and cost overruns in construction projects have become the norm. According to research by McKinsey & Company, construction projects are typically completed 80% over budget and take 20% longer than scheduled, and it’s mainly the stakeholders that pay the price.
Do you find it hard to monitor your construction project from a distance? It is worth persisting, as doing so brings many advantages compared to not doing so. Today, we will be going over these advantages and find out how you can start monitoring your own construction projects from a distance.