Report Shows How Construction Projects Could Save Billions

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Savings up to 7 percent are one of the many benefits with the shared digital communications platform ‘GenieBelt’ on large construction projects. This is concluded in a six month research project by the Danish Building Research Institute initiated by a government fund.

7 % savings on construction projects

We encourage everyone in the construction industry to use such IT tools. In addition to the immediate cost reductions, it will advance the project planning, improve the planning of the building production, and entrepreneurs can prioritize based on a better knowledge base.

A report published by SBI, the Danish Building Research Institute, shows that up to 7% in total can be saved on a construction project by using the real-time, digital project-management software, GenieBelt. This report followed the use of the tool on three major building projects in Copenhagen. GenieBelt are thrilled with the results.

“There’s no one else in the world, who’s able to show such high, scientifically documented savings on construction projects running into billions of dollars. Let’s say you save 5% on construction in Denmark, then it’s more than 10 billion a year,” says Ulrik Branner, CEO at GenieBelt.

Earlier this year McKinsey published a report which stated that digital tools will be an essential part of any solution needed to fill a huge unexploited market for improving productivity in the construction industry. This is thoroughly supported by SBI in this current report.

“We encourage everyone in the construction industry to use such IT tools. In addition to the immediate cost reductions, it will advance the project planning, improve the planning of the building production, and entrepreneurs can prioritize based on a better knowledge base,” says Jan Fuglsig, one of the authors of the SBI report.

In the SBI report, a period of 6 month of a 23-month construction project was examined. In the six months, savings of two percent was determined - a percentage that could increase to seven, if the study had included the project from beginning to end. In addition, the study did not include other benefits like the ones emerging on corporate level.

GenieBelt, is a startup company that provides real-time project management software for the construction industry, and is improving the way construction companies communicate and organise themselves. You can read more about this on their blog. You can also book a demo today to see and find out what GenieBelt is all about.

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Rasmus Ebsen
@GenieBelt
since: 03/2013
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