How Shrewd Construction Companies Use Tech to Build Better Projects

The General Contractor of the future will be successful based on their ability to identify, evaluate and implement new technologies.    In 2017, computing power became sufficient to open up the doors for some of the toughest challenges in Construction to be addressed by software solutions. Billions of dollars of venture capital poured into tech start-up companies and the Construction tech renaissance kicked into gear.    With the influx of technology available, though, construction companies have found it difficult to determine and implement what they need to build faster, high-quality, cost-effective projects.     How do shrewd construction companies avoid overwhelm and use tech to build better projects? This is what I discuss in this week's podcast episode with René Morkos. The son of a civil engineer, René grew up in the construction industry. He has worked on construction projects worldwide.    René is the founder and CEO of ALICE Technologies and teaches at Stanford University's Ph.D. program in Construction Management.    Some of the important highlights we discuss are:    The one position you need to create to take advantage of the tech renaissance  the three-step process in evaluating the right technology for your organization, and  the one question CEOs need to ask every night before going to bed that should drive the decisions you make to take advantage of the renaissance    If you're a CEO wanting to take advantage of the construction technology renaissance, you will definitely find this interview insightful.   Discussion Points: 0:00 Introduction  3:11 Difference between an orchestra and a construction crew  3:44 Construction is a complicated field  5:00 The construction renaissance  6:53 Generative construction simulator  7:44 Shift the mindset: Stop scheduling, start simulating  9:12 How to continue to simulate throughout the project  13:03 How innovative construction companies participate in this renaissance  16:59 Three factors that will determine a general contractor's success 17:58 One position to create to take advantage of the renaissance  27:53 What is the impact a software is going to have on my process? 28:09 The 3-step process when evaluating the right technology for your organization  35:31 1 question CEOs should ask every night before going to bed 39:20 What does ALICE do, and for who is it? 41:41 Leveraging the value that construction experts have  43:14 How to get in touch with René  43:33 The bleeding edge in technology for construction  45:21 What semantics mean  49:05 Three action items construction companies can take to participate in the renaissance  49:49 BONUS: René's recommended restaurant in the Bay Area    About the Guest:  René Morkos is the founder and CEO of ALICE Technologies and teaches at Stanford University's Ph.D. program in Construction Management. The son of a civil engineer, René grew up in the construction industry. He has worked on construction projects worldwide.    His professional experience ranges from working as a project manager in Afghanistan to building an underwater pipeline project in Beirut, from driving automation engineering on a $350 million gas refinery expansion project in Abu Dhabi to leading the development of a virtual design and construction model for Amsterdam's cruise ship terminal.   René received his Ph.D. in Construction Engineering and Management from Stanford University, his MSCE in Construction Management from USC, and his BS in Civil and Environmental Engineering from the American University of Beirut.   Resources:  Find out more about ALICE Technologies  https://www.alicetechnologies.com/about www.alicetechnologies.com Follow René on Linkedin https://www.linkedin.com/in/renemorkos/.  Stanford Center for Integrated Facility Engineering (CIFE): https://cife.stanford.edu/    Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)    Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher. Thank you for tuning in!