How IoT can Transform Heavy Equipment Management in Real Estate Sector

The real estate sector of the construction industry is more of a private owned than its infrastructure counterpart which is more public owned. It deals in constructing structures like skyscrapers, residential complexes, office and commercial spaces, etc. Apart from regular construction-related heavy equipment like earth-moving machines, excavators, and concrete mixtures, real estate constructions also require specific heavy equipment like hoist machines, tower cranes, etc., due to the vertical nature of the structures. And managing these equipment and their functions requires thorough supervision.

On-time delivery of projects is essential as it affects the budget set aside for the project and the supervising manager’s credibility. Most of this on-time and on-budget project completion depends on the working condition of the machines and the punctuality of the tasks at hand. IoT can help keep track of the real-time construction situation by tracking the work times of the assets and their operators while on-field. IoT can also assist in the real estate sector due to the flexibility offered through the granular visibility. The following are the top IoT trends for heavy equipment in the real estate sector:

  1. Equipment Management

Every construction project requires its machinery to be in top shape. This calls for timely maintenance and machine servicing that must be followed thoroughly. IoT integration into the assets can help create maintenance schedules and customized alert systems that notify the managers in case of asset malfunction or sudden breakdown. Total visibility offered by IoT can help offset the extra maintenance and service time by showing the real-time condition of the assets and helps in setting up regular services of the equipment.

  1. Efficiency and Productivity

Healthy machines contribute to increased productivity and efficiency of the project, which helps in the timely completion of projects. With IoT systems assimilated into the assets and their management counterparts, it is easier to access the functioning conditions of the machinery and heavy equipment in their entirety through sensors and trackers that are fitted directly with the assets with the data collected and fed into an application based system.

  1. Resource Management

Fuel is a key resource in construction spaces, including the real estate sector. Sometimes, there are issues in the procurement and handling, leading to resource theft or wastage. It is possible to use IoT systems to monitor fuel usage, check the tank levels during the asset’s working, or create alerts for tampering with fuel storage. This helps to gauge the actual fuel consumption by the asset in comparision to the amount that was input at a given time which can let the managers know if tampering has occurred.

  1. Labor Management

Heavy equipment operators for construction projects require a certain amount of special training for handling the assets. There is also a need to supervise the available fleet operators on-field. IoT comes into play here as it helps total observation of the operator’s behavior and aids in planning the labor hiring and handling. Trackers and sensors can let the site in-charges gather data on issues driving behavior, vehicle impact, speeding, idle times, etc, to take calculative measures.

Conclusion

IoT introduction into real estate construction is necessary to keep up with the demands of clean and sustainable building projects. Heavy equipment management is crucial in reaching this goal as asset conditions play a significant role in project completion as well the controlling the cost of these undertakings. Having total visibility and control over the heavy equipment is the basis of productive and efficient projects.

Tor Loco is one such solution that offers end-to-end IoT services for your heavy equipment management needs. Make your fleet smarter, safer and sustainable for improved project deliverance through IoT introduction.

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From the desk of Team Tor

Team Tor represents a team of professionals passionate about IoT and its impact across industrial use cases. Follow us to stay updated about the latest trends, product features and best practices of industry as well as technology from the desk of Team Tor.

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