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September 20, 2022

4 Ways Optioneering Helps Mitigate Construction Challenges

Construction optioneering is the process of using data to identify several options or alternatives that can be used to meet the needs of a construction project. For example, a contractor may be tasked with ensuring that a project remains within budget in terms of its labor. In such a case, the contractor can utilize optioneering to determine the best course of action for the most optimal resource mix.

 

One optioneering platform used to identify alternatives and options is https://www.alicetechnologies.com/construction-optioneering. This platform helps with reducing risk and optimizing resources like labor, equipment, and materials to ensure your project is operating in the most cost-effective manner.

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Sifting approach method: a common approach to optioneering

Options and alternatives are used to solve major construction challenges.

 

For example, let us assume that a contractor is working on a linear project such as road construction. During the course of their work, the contractor is unexpectedly faced with a major issue. A blocked-off section makes it impossible for the road to be built as it was initially designed.

 

From there, the contractor will need to come up with several alternatives to what was originally planned. The first option would be to divert the road (i.e., redesign it) a few kilometers from the blockage. The other would be to build a bridge over the blocked-off section. Either option would solve the mobility problem.

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When the contractor is faced with a dilemma and is unsure which option or alternative is best, they can use one of the most common optioneering approaches: the sifting approach method.

 

The sifting approach method narrows down the best option by looking at alternatives through several filters. Each option is analyzed based on specific parameters, such as cost and return on investment. If the option passes the first major filter, it is put through a second filter to be analyzed.

 

And if it passes the second filter, it is placed through a third filter, and so on until other options are filtered out. By the end, a suitable alternative should be effectively identified. The main goal of the sifting process is to filter out alternatives and options that don’t meet the project’s needs.

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Other benefits of using the sifting approach method are:

 

  1. Knowing if the alternatives or options have positive net benefits
  2. Contractors will know if an option is implementable

 

Of course, it should be noted that the sifting approach is a time-consuming process when manually done. It’s also prone to errors because it’s not easy to factor in hundreds of variables that affect a construction project.

 

For this reason, contractors use technological platforms to leverage construction optioneering effectively.

4 ways optioneering helps mitigate construction challenges

Several construction challenges affect the construction industry, including labor shortages, construction risks, and the failure to develop a reliable construction schedule. Some challenges are caused by clients who make frequent change orders, causing delays and increasing the cost of construction.

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So how does optioneering help solve these persistent issues?

1. Options help reduce risks

Construction projects are complicated because there are often a lot of moving parts that need to be managed and overseen. Unfortunately, it’s not uncommon for blind spots to cause all sorts of issues, and the bigger the project, the more risks there are. Construction risks may be logistical, societal, legal, and environmental.

 

Optioneering mitigates these risks by creating alternatives for prevention. For example, if a project is suffering from delays or experiences an unexpected snag, you can use optioneering to weigh what possibilities you have for recovery. By taking the path best suited to the project’s needs, you can prevent further damage and may even save the project from failure.

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2.  It streamlines work schedules

It’s not uncommon for construction projects to be affected by ineffective work schedules. Several factors can cause this, including unrealistic resource allocation, missing dependencies, and the failure to recognize client constraints.

 

Effective construction schedules should allow for resource mobilization. When a schedule is ineffective, optioneering can be used to find alternatives to rectify errors.

 

For example, let’s assume that a schedule is ineffective because of unrealistic resource allocation. With the help of optioneering, contractors can identify cheaper alternatives or options that fit within their available budgetary constraints.

3. Poor forecasting

Poor forecasting is a construction challenge that can be caused by using an accelerated schedule. Having an accelerated schedule is bad for business because workers tend to be overworked, affecting their productivity. Accelerated schedules also cause confusion and dissatisfaction among contractors and subcontractors.

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To fix this problem, optioneering can be used to identify options that can be used to speed up the construction process without overstretching an existing workforce—is there enough budget to hire on more workers? Where can costs be cut to allocate more to a given segment of the project?

4. Uncompetitive bids

To remain competitive, some construction companies reduce their margins. This comes at a cost, because they may end up making little or no profit. This problem forces construction companies to use substandard materials to at least break even.

 

Optioneering platforms can be used to identify numerous options or alternatives that can be used to reduce construction costs. For example, concrete slabs or a different design can be adopted to reduce costs and increase profitability.

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Optioneering benefits all

Contractors and project owners should leverage optioneering to help their companies be more economical. Optioneering technology, in particular, can help you control more variables to guarantee project success.

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