Transparency and real-time data reinforce trust and support collaborative decision making that makes the “neighborhood” work. Beginning with smart contracts and blockchain and continuing with supporting supplier engagement, dynamic-risk modeling and beyond, data analytics is the foundation for the OS2 IAP research and its subsequent deployment.
Financing is the single largest category of waste on construction projects. Financing costs remain buried in the rate structures at each level of the supply chain but accumulate to the owner’s total installed cost. The OS2 IAP research will explore new methods that enable more rapid payments and reduce the cost of capital while improving the verifiability of the associated transactions thus eliminating a major source of waste and lowering total installed cost.