Lyra White Paper Showcases How Color Printing Can Yield Construction Project Savings

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Lyra White Paper Showcases How Color Printing Can Yield Construction Project Savings
Posted: July 19th, 2010 01:04 PM EDT
Lyra Research

Since the 1960s, the productivity growth rate for the construction and building industry has averaged -0.59 percent, while all other industries combined have an average productivity growth rate of 1.77 percent. General construction industry estimates claim that between 10 and 30 percent of all building project costs can be attributed to wasted activities, such as schedule overruns, wasted labor and management time, wasted materials, and unnecessary litigation. Based on US Department of Commerce building estimates for 2009, a 10 percent waste factor is equal to approximately $94 billion. Without indicating the specific cause, this information reveals that significant opportunities for waste reduction and productivity improvement exist in the construction industry, if the problem can be effectively defined and viable solutions identified.

Lyra Research has published a white paper, Color Construction Documents: A Simple Way to Reduce Costs, which discusses the forces that have created unnecessary costs and waste in the construction industry. Sponsored by Océ North America, this white paper examines how advanced technologies, in particular color computer-aided design (CAD) printing, deliver significant cost-reduction opportunities and greater productivity and profit for traditional design-bid-build projects. The paper also details the specific benefits of applying color construction documents to design-bid-build projects for project owners, general contractors, and architecture, engineering, and construction (AEC) firms, including how each incremental dollar invested in color printing can yield $4 in savings for a construction project.

Furthermore, the paper offers a simple model for quantifying the operating (RFI and change-order management) and project cost waste factors (estimation cost contingencies and net value of change orders) caused by poor documentation. It also delivers a four-step flexible ROI model, with a sample project, to measure the anticipated cost savings and overall return that can be gained by leveraging the use of color construction documents. The four-step ROI model involves estimating the waste in project costs; estimating the reduction in waste for operating expenses for general contractors; estimating the reduction in waste costs for project owners; and inputting color CAD printing costs.

"This white paper showcases Lyra's research, knowledge, and analysis of the printing industry," said Frank Stefansson, CEO and executive vice president of Lyra Research. "Our consultants were able to synthesize information to create a model focused on improving the specific business processes used in the AEC and technical CAD markets, ultimately saving companies time and money by improving ROI and increasing productivity. This type of analysis can be applied to other industries and vertical markets that utilize imaging technologies."

To download a free copy of Color Construction Documents: A Simple Way to Reduce Costs, please visit Lyra Consulting Group. For more information, contact Joel Mazza, director of business development, at 617-454-2664 or jmazza@lyra.com.