Construction Acronyms You Need To Know
Short forms and acronyms are like a second language. The challenge with acronyms in the construction industry is that many acronyms have evolved and developed alongside technology. For new and experienced contractors alike, the number of new acronyms in the construction industry is enough to make your head spin. Here are some of the most common and latest tech acronyms in the construction industry that you need to know.
IoT - Internet of Things
IoT stands for Internet of Things. It is one of the newer technologies in the construction industry. IoT technology refers to technological connectivity between products, machines, computers, software and other “things” without needing human-to-human or human-to-computer interaction to receive or send data.
IoT could be a new excavator that sends operating hours and fuel levels direction to a computer at 5 PM. IoT could also be a site-wide weather system that detects changes in humidity and weather patterns and automatically turns lights on and off or sends a warning to crane operators if thunder or lightning is detected. There are many ways that IoT technology is used in the construction industry and is an acronym worth knowing.
BIM - Building Information Modeling
BIM is a 3D modeling system used by architects, engineers and construction to design, plan, monitor, budget and build a construction project. The digital model can be used throughout the entire construction process to gather data and give project supervisors more control over the planning and execution process of a project.
AI - Artificial Intelligence
AI or artificial intelligence is often the stuff of sci-fi horror movies. Although the idea of machines, computers and robots having intelligence and problem-solving abilities may be scary, AI technology has many amazing real-world applications. In the construction industry, AI helps with surveillance, budgeting, improves safety on construction sites and can automate many mundane and time-consuming tasks that eat up time and budget.
Artificial intelligence means the simulation of human intelligence through the programming of robots, computers or even programs themselves. It removes emotions and consciousness from decision-making and can help automate simple and necessary tasks. AI has begun to be more mainstream in construction and other tech industries. It will be seen in construction much more in the future.
D-B - Design-Build
D-B or design-build is a process of construction where the designing of a building and the construction of that project are grouped into a single project often by a single company. Many construction companies offer D-B services so project owners only need to hire a single company for the entire project instead of outsourcing the design and building separately. The D-B approach can reduce miscommunication and is a growing trend for bids in the industry.
B2B - Business to Business
B2B is used to refer to a business that sells or works with another business. DOZR as an equipment rental company is an example of a B2B business: DOZR supplies construction equipment as a business to other contractors and construction companies who are also a business. It is an acronym that you should know because it is often used in papers or articles that speak to trends in the construction industry.
B2C - Business to Customer
B2C businesses are like B2B except that this term refers to businesses that market or work directly with general customers or consumers. Clothes stores that sell to the public or a landscaping company advertising to homeowners would be two examples of B2C relationships.
LEED - Leadership in Energy and Environmental Design
LEED and LEED Certification are hot-topic acronyms in the construction industry because environmental regulation and green building trends keep on growing. LEED is a certificate awarded to a building either for its construction process and/or its environmental impact in day-to-day operations. LEED is an important acronym in construction because contractors who are knowledgeable in LEED building practices could have the upper hand on certain project bids. It is a selling point now that can set one construction company apart from another and will be even more appealing as environmentalism and sustainability become more popular.
Acronyms are handy to use but can cause confusion if their meaning isn’t widely known. These acronyms are the latest big-trend acronyms for the construction industry. Learn them. Memorize them. Use them. And never stop seeking the latest trends in the construction industry.