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How construction managers are optimising their assets

Capital-intensive businesses in industries such as construction, oil and gas and mining, are amongst those that would benefit from asset utilisation tools which are proven to positively impact asset efficiency. Telematics can help by creating self-sustaining networks of connected assets which help site managers on construction projects to take a more hands-off approach when it comes to tracking their assets so that they can focus on other matters affecting their business.

This self-sustaining network of connected assets helps increase visibility for site managers, even when they aren’t physically on-site. This is particularly beneficial in the construction sector because assets that aren’t online and/or working cost money and don’t generate revenue.

By coordinating and merging sitewide data and historical records of asset utilisation, construction site managers are able to make more informed decisions that maximise the performance of an enterprise’s physical assets. Having a network of connected assets helps increase asset visibility, even when the assets are being used remotely. Despite challenges such as poor connectivity, the network still continues working. This ensures that data is always recorded in the background and kept updated.

Owing to the fact that business requirements tend to change in response to external factors, there needs to be a continuous refinement of the assets. A few considerations include:

Reliability and planning

Performing a site analysis of where and how the moveable assets on a construction site will be used, are key in planning for the most efficient distribution model when it comes to using the assets to perform most optimally. This is generally made possible with current data that’s built up over time and thereby allows site managers a first-hand look at the performance of their assets.

Condition monitoring

Most issues affecting assets (which also have a detrimental long-term impact on the lifecycle and thus revenue of a site) can also be tracked and viewed at any time from any location using the self-sustaining network and subsequent data. The current health of process plants is vitally important as it’s related to current performance information, diagnostics and prognosis of issues that may be latent and that could rear up at a later stage, thus allowing the site manager to mitigate potential risks.

Process control

Another important factor is the understanding of bottlenecks within a current production cycle which can assist to further optimise assets at any given time. Optimal asset utilisation and asset performance requires planning and strategising which is made far easier with accurate data that a connected network can provide. By taking a holistic asset optimisation approach to construction projects, site managers can design and build a system that works best to deliver projects on time, within budget and with the least amount of risk to the project’s success or impact on assets.

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