Why the Bold Thrive: Embracing Change for a Brighter Future

By Donald Chung, Program Director, Dawson Ventures

The construction industry is evolving at an unprecedented pace. With constant advancements in systems, technologies, and best practices, owners and managers often find themselves at a crossroads. While the future promises efficiency, sustainability and cost savings, the fear of stepping away from what’s known can be daunting. Yet, those who embrace change find themselves in a stronger position, better equipped to thrive in a dynamic landscape.

The Challenge of Change

Many owners hesitate to adopt new construction methods or technologies due to concerns about reliability and the risks of untested innovations. They bear much of the risk while the rewards remain uncertain, leading them to prioritize stability and predictable outcomes over innovation.

How McKinstry is Reducing Risk

At McKinstry, we help owners confidently adopt new technologies by piloting innovations in our R&D and office spaces, allowing hands-on experience in a low-risk setting. Additionally, we offer contract mechanisms like performance contracts and power purchase agreements (PPAs) to protect owners from risks, such as with solar energy, ensuring they only pay for actual savings or energy production, reducing their exposure to technology risks.

Why Owners Should Embrace the New

Despite hesitancy toward new methods, rising labor costs, low productivity, and stricter regulations are driving owners to seek more efficient building solutions. Traditional approaches are no longer enough to meet demands for better performance, and incremental improvements yield diminishing returns. To remain competitive and compliant, owners must embrace innovation. Overcast Innovations exemplifies this shift by using modular and offsite prefabrication to deliver plug-and-play assemblies. Their success lies not in creating new technologies but in packaging existing, high-quality OEM components more efficiently, improving construction speed, quality and overall cost-effectiveness.

Overcast’s approach offers clear benefits for owners: improved cost efficiency, reduced material waste and enhanced safety. Most importantly, the modular method shortens on-site time, speeds up occupancy and lowers overall costs. Additionally, it simplifies renovations or reconfigurations, providing long-term value for owners.

The Future Belongs to the Bold

The key takeaway for owners is clear: embrace innovation. With rising costs and stricter regulations, sticking to the status quo may lead to setbacks. In contrast, adopting new technologies and methods offers significant growth opportunities. Innovation involves thoughtfully using proven tools that deliver measurable benefits, and the future belongs to those willing to embrace change.

Connect with the Dawson Ventures team at McKinstry to explore how we can help you grow your innovation footprint and make strategic decisions that position your organization for long-term success.

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