Every £1 invested in information management could potentially yield £6 of labour-time savings, while also boosting government efforts to reach net-zero carbon emissions by 2050.
That’s according to a Centre for Digital Built Britain (CDBB) report produced by KPMG and Atkins that found that the use of information management could potentially secure between £5.10- £6.00 of direct labour productivity gains for every £1 invested in information management – as well as £6.90 in total cost savings.
The report, The Value of Information Management in the Construction and Infrastructure Sector, includes the analysis of 11 case studies.
The evidence also suggests information management could enable cost savings across different stages of the asset lifecycle of between 1.6% to 18%, depending on the stage.
The study’s analysis of illustrative scenarios of sector-wide adoption of information management suggests that every £1 of direct productivity gain this year in the design, construction, and maintenance of built assets could translate into £3.70 in annual UK GDP in 2051.
The report highlights 11 real-life case studies that demonstrate the benefits realised across a wide range of sectors and organisations, including the housing sector.
Commenting on the report, Alexandra Bolton, executive director at the CDBB, said: “This groundbreaking report sets out the benefits of information management to businesses through increased labour productivity; to the wider economy through driving GDP growth; and to society by improving the quality of outcomes for the end customer, the wider public, and the environment.
“It provides compelling evidence that increasing investment in information management, and a greater focus on and analysis of the wider benefits that it delivers, could not only help to close the sector’s productivity gap, but could also unlock economic, environmental and social gains to create a better future for people and the planet.”
Keith Waller, programme director of the Construction Innovation Hub, said: “This study provides tangible evidence that information management is driving wider organisational improvements through digital transformation.
“Analysis shows how organisations utilising information management to enable modern methods of construction have developed new, innovative services in the market, and also brought life into projects that were once simply too costly.
“The challenges the construction sector faces are increasingly complex and this report shows we have both the tools and the expertise to face these challenges, delivering innovative and joined-up solutions that will embed true value into the projects of today, which will meet the challenges of tomorrow.”
Richard Threlfall, global head of infrastructure at KPMG, added: “Now the government and industry need to focus on measures which expand and accelerate the widespread adoption of information management to realise its full potential to drive value within and beyond the sector.”
Richard Robinson, Atkins UK and Europe CEO, said: “The imperative for the industry to improve has never been higher and this study provides evidence of the change not just in motion but accelerating.”