Contact Information: Contacts: Kelly Murray 978-597-3377 Patrick Gillam 603-625-6212 ext. 349
AEC Industry Thought Leaders Rethink Risk Mitigation in New White Paper
Principals, Counsel and Insurance Professionals Advocate Increased Exposure for Reduced Risk
| Source: Newforma, Inc.
MANCHESTER, NH--(Marketwire - May 30, 2008) - A newly released survey has found consensus
among leading AEC principals, counsel and professional liability insurers
that many of the industry's current practices, despite being designed to
shield architecture and engineering firms from risk exposure, are, in fact,
increasing the likelihood of project failure. The research is available in
a white paper, "Mitigating Risk in AEC Project Execution: Perspectives from
Principals, Counsel and Insurers," by Spar Point Research of Danvers, Mass.
Newforma, Inc., a New Hampshire-based software developer, commissioned Spar
Point to conduct the research based on Spar Point's success with a previous
Newforma white paper, "Improving AEC Project Execution: Lessons from 11
Industry Leaders." This time the focus of the survey was to investigate the
challenge of risk mitigation in project delivery. The participating
executives agreed that more frequent and deeper information sharing across
the entire project team can improve the team's clarity of understanding,
reduce the likelihood and severity of problems, and increase control over a
project's outcome. However, opinions on how best to achieve the
transparency and knowledge-exchange necessary for this type of "informed
control" were divided between the newly-emerging data-centric design and
construction processes supported by BIM (building information modeling) and
a more people-oriented investment in developing and supporting high-level
project management methods and skills.
Spar Point President of Research Bruce Jenkins attributes this duality to
the underlying process intensity of AEC projects. "While BIM technology
offers unquestionable improvement in clarity around the design, the
processes required to manage the project 'outside' the model are still
being defined," said Jenkins. "At transitional times like these, the need
for experienced project managers with the necessary skills to identify gaps
or anticipate new work processes is even more accentuated."
Several interviewees were hopeful for new technologies, or extensions to
current BIM technology, that would also improve the process and clarity of
project communications outside the building model in order to prevent other
risks to project success -- like an unexpectedly large invoice at the end
of the job or an overlooked customer expectation -- that can result from
project complexity, overwhelming volumes of information and increased work
load.
"What's surprising is the degree to which the industry has recognized
software technology as an accepted, if not expected, path to improvement in
communicating design intent, but is still in the early stages of
investigating technology for challenges such as poor management of client
expectations, inadequate project risk assessment, non-standard practices,
and other sources of project risk identified in this study."
Firms interviewed for the study include Ames & Gough, Barry B. LePatner &
Associates LLP, Burns & McDonnell, Hanson Bridgett LLP, HOK, NBBJ,
Perkins+Will, Noble & Wickersham LLP, Victor O. Schinnerer & Company,
Walter P Moore, and XL Specialty Insurance Company.
The full research paper, which includes detailed quotations from
interviewees on every area of risk mitigation, is available from the
Newforma website, www.newforma.com.
About Spar Point
Spar Point Research LLC (www.sparllc.com) investigates new technologies
that improve the productivity, quality and safety of work process for
creating, modifying and managing engineered products and constructed
assets. Its publications, industry conferences and custom consulting help
practitioners maximize the business impact of technology. Spar Point hosts
the SPAR Conference, an annual conference on advanced dimensional control
work processes and 3D imaging technologies. Spar Point's phone number is
978-774-1102.
About Newforma
Newforma is a software company serving architecture, engineering,
construction and owner/operator (AECO) organizations worldwide. Its mission
is to develop and market software solutions which significantly improve the
productivity of the building project team by streamlining work processes,
reducing exposure from errors and omissions, improving coordination and
communication, and enabling greater repeatability of project success.
Newforma® Project Center, Newforma's flagship product, creates a more
productive environment for project managers and the project team by
organizing project information, facilitating information sharing, and
enabling more effective project process. Newforma Project Center is
currently implemented on over 50,000 projects in industry-leading AECO
firms. For more information about Newforma, visit www.newforma.com or phone
+1 (603) 625-6212.
© 2008 Newforma, Inc. Newforma is a registered trademark of Newforma,
Inc., in the United States and other countries. All other brands or
products are trademarks or registered trademarks of their respective
holders and should be treated as such.