Abstract
There is a continuous rise in the implementation of information-driven technology in construction, especially for effective control and management of construction resources. However, the enormous opportunities that these technologies provide have not been adequately utilized for construction cost management. There are so many innovations in the current IR 4.0 era, where digitization and connected systems are the trend of activities in engineering and other allied industries. These innovations are being adopted in the construction industry, to enhance the efficiency of construction processes. The areas of the current trend include Internet of things [IoT], Augmented and Virtual Reality [AR and VR], 5D-BIM, Autonomous Equipment, Artificial Intelligence and Machine Learning, and Predictive Analytics. This paper explores the applications and benefits of these areas of new technological trends in construction project management with emphasis laid in cost management of construction projects. Eighty-one[81] recent publications in journal articles, textbooks, web pages and conference proceedings published between 2008 and 2019 were reviewed in order to articulate and reveal areas of application of the technologies in project cost management and control. The paper exposes areas of application of the current ICT trends which construction managers and project cost managers should harness.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: IOP Conference Series: Materials Science and Engineering
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.