Save Time and Money With Modular Construction
The supporters of modular construction have been touting its numerous benefits for years now. Chief among these is often the reduced cost that modular office buildings offer purchasers, as well as the speed at which a facility can be up and running. People who have used these construction methods in the past have first hand experience of the savings in both time and dollars that modular construction offers, but first-hand accounts and testimonials aren’t enough to convince every kind of buyer. Some need hard evidence backed up by good data. Now, the modular industry has that to offer as well.
Lost time equals lost money in every type of business, but the construction industry certainly appears to feel the pinch of time constraints even harder than most. The pressure to constantly meet and exceed deadlines is a headache for every project manager in the industry. However, a recent study completed at the University of Utah, shows that construction times can be reduced by as much as 45% by utilizing modular construction methods.
Profit is always the bottom line in the construction industry. A time reduction as significant as 45% makes the return on investment significantly larger for projects undertaken with a modular building strategy as opposed to those built through more traditional means. In addition, the study also found a savings of 16% when building using modular units versus regular construction. To put this in perspective, a time savings of only 25% on a typical construction projects results in each square foot of the project costing $5.81 less.
The National Institute of Building Sciences and the Modular Building Institute funded the work done by the University of Utah. The research was global in scope, looking at projects constructed on three different continents in a wide variety of industries. To build a truly accurate picture of the potential savings involved, the project compared modular construction in the target industries to similarly scaled projects that utilized more traditional construction methods.
The results that emerged are hard to argue with. The time savings not only means that a project can be up and operational much quicker with modular construction, but that the cost of doing so will be a fraction of what it would cost to build a similar structure using traditional methodologies. This evidence should have more and more companies looking to see how modular solutions might fit into their future plans.