The AECO (Architecture, Engineering, Construction, and Operations) industry faces various challenges and opportunities as it adapts to changing market trends and technological advancements. The AECO industry is the largest industry in the world, according to McKinsey and makes up 13% of global GDP. The industry has seen a steady increase in demand for sustainable and energy-efficient designs, as well as for innovative building materials and construction techniques. Additionally, digital technologies such as Building Information Modeling (BIM), cloud-based collaboration, and requirements management tools have become more prevalent, enabling better communication and project management across different stakeholders.
However, the industry is also grappling with issues such as a shortage of skilled labor, rising material costs, and increasing regulatory requirements. As such, the AECO industry is undergoing a transformation as it seeks to meet the evolving needs of clients and society while navigating a rapidly changing business landscape.
In this whitepaper, we explore some of these challenges and provide ideas on how to solve them. Some of the challenges include:
-
Scope creep
-
Inefficient design review processes
-
Inability to track and manage owner changes
