CM4050 - Directed Research Projects - By Purva Gupta
CM4050- Directed Research Projects
Faculty: Purva Gupta
Optimizing Equipment Management with the Blockchain of Things
In construction projects, equipment costs represent a significant portion of overall expenses. Construction equipment is not merely a convenience but a strategic asset critical to project success. Effective equipment management plays a pivotal role in achieving project objectives, encompassing cost control, schedule adherence, quality assurance, safety compliance, and environmental sustainability.
The process of construction equipment management is inherently complex, involving careful planning, organization, and oversight of machinery usage. Despite its importance, the field faces persistent challenges such as prolonged idle times, underutilized resources, and inefficient communication among stakeholders. These issues lead to project delays, inflated operational costs, and hindered stakeholder access to vital information.
To address these challenges, there is a pressing need for innovative and strategic approaches to construction equipment management. Such advancements could streamline operations, optimize resource utilization, and significantly enhance project profitability.