Role of Corporate Venture Capital in Advancing Innovation in The Construction Industry

Thai Nguyen, Director Of Innovation, Hensel Phelps

Investors Who See with Sustainability's Eyes

Luis Bermejo, Co-founder & Managing Partner, Alaya Capital

Building the Future: Navigating Innovation in Construction Startups

Brian Bell, General Partner at Team Ignite Ventures

Digital Transformation in Construction: Trends, Challenges, and Leadership Insights

Bisrat Solomon Degefa, Entrepreneur in Residence at Antler

The Future Of Construction Technology

Randee Herrin, Senior Vice President, Construction Technologies And Manufacturing, Td industries

The Future Of Construction TechnologyRandee Herrin, Senior Vice President, Construction Technologies And Manufacturing, Td industries

Throughout my 26 years at TD Industries, it has been a privilege to learn and gain empathy through the lense of varying roles and positions. After spending the first part of my career on the construction side of the business, I transitioned to Senior Vice President of Construction Technol­ogies and Manufacturing. I now lead a team of construction technology professionals, BIM designers and manufacturing teams that are working together to leverage the model.

I believe that the construction industry is entering into a time of transformative change where the model, manufacturing, and construction are converging to solve some of our industry’s biggest problems: worker shortage and stagnant productivity.

With this change, the model will facilitate the shift of work from the jobsite to a more predictable and productive manufacturing environment that leverages prefabrication and productization of building components.

Another shift I see in our industry is that owners desire more certainty in cost and schedule. Historically, siloed knowledge gained over career of experiences has limited the transfer of this data. Now with data rich models, we can provide more transparency with more accurate estimates and schedules.

“Over time, the data from these models are mined and studied so that that we can improve upon future estimates and projects”

In an effort to shift with the needs of the industry, about four years ago we invested heavily in resources to develop our database. The database contains labor and material information on every piece of our ductwork, plumbing, and piping systems. This database is our single source of truth that is utilized in our estimating model, our BIM model, and in manufacturing. Over time, the data from these models are mined and studied so that that we can improve upon future estimates and projects.

Below is the roadmap that we are following along our journey as we leverage construction technology, the model and manufacturing.
• 2017 – Design an integrated system and roadmap strategy
• 2018 – Develop a database creating a centralized data source
• 2019 –Streamline data flow through software integrations with ERP design and development
• 2020 – Transition data and implement Revit and Stratus
• 2021 – ERP go-live date and rollout
• 2022 – Transition from off-site manufacturing to prefabrication and productization
• 2023 – Predictable manufacturing enables automation creating more efficiencies and customer confidence

This roadmap outlines our journey. Overtime it could change as items added and we continue to invest in technology and resources that allows closer collaboration with our clients, provides more transparent data, and yields more efficient and effective and products.

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