Feasibility study of the application of AI to project management, operations and labour sourcing in the residential construction industry
Lead Participant:
HARDY WILCOX LTD
Abstract
**Project Overview**
Hardy Wilcox Ltd, under the name of TradeWork, is an early-stage startup aiming to improve processes, cost, and time associated with managing property-related projects. Our services are relevant to landlords, property developers, trade contractors, professionals, and labourers. This Project aims to investigate the feasibility of leveraging AI within TradeWork's core platform for the benefit of its customers and its own business case.
**Project Objectives**
The objectives of this project are:
* Research the feasibility of the application of AI/ML to improve the processes and outcomes in relation to sourcing and managing quality trades for residential construction projects
* Research the business opportunities for TradeWork to leverage these findings for commercial benefit within its business
* Prove that the current UK housing stock deficit situation could be improved by utilising AI from small to large developers as well as councils across the UK
**Project Outcomes**
The expected outcomes of the TradeWork project are:
* Prove hypothesis that if AI is used in the construction industry then better outcomes (speed/value/time/risk etc) can be achieved.
* Market opportunity assessment for TradeWork leveraging AI
* Proof of concept integration of AI/ML into TradeWorks core platform
* Validate TradeWork's business case and demonstrate the potential of AI to improve the UK residential construction industry
**Project Approach**
The TradeWork project will be implemented in three phases:
_Phase 1: Research_
* Relevant business processes and data
* AI/ML technology, applications, and the art of the possible
_Phase 2:_
* Build AI/ML capability based on the research into the core TradeWork platform
_Phase 3:_
* Market research and business case verification and feasibility assessment
**Project Team**
The TradeWork project team is composed of experienced professionals with expertise in the construction industry, AI, and business development. The team is led by Piers Wilcox, who has over 20 years of experience in computer science and consultancy, supported by experts in residential construction and trade.
**Project Timeline**
The TradeWork project is scheduled to be completed in six months.
**Project Budget**
The total cost of the TradeWork project is **£57,929.20**. The grant that you are requesting is £50,000.00\. TradeWork will finance their contributions (~88%/£44k) via a business loan and additional Director Loan contributions. OneFourFOur will fund via cash reserves (~£6k).
**Project Benefits**
TradeWork has the potential to significantly improve the efficiency and accuracy of the construction process. This could lead to a number of benefits, including:
* Reduced costs
* Improved quality
* Shorter project timelines
* Increased productivity
* Reduced Waste
Hardy Wilcox Ltd, under the name of TradeWork, is an early-stage startup aiming to improve processes, cost, and time associated with managing property-related projects. Our services are relevant to landlords, property developers, trade contractors, professionals, and labourers. This Project aims to investigate the feasibility of leveraging AI within TradeWork's core platform for the benefit of its customers and its own business case.
**Project Objectives**
The objectives of this project are:
* Research the feasibility of the application of AI/ML to improve the processes and outcomes in relation to sourcing and managing quality trades for residential construction projects
* Research the business opportunities for TradeWork to leverage these findings for commercial benefit within its business
* Prove that the current UK housing stock deficit situation could be improved by utilising AI from small to large developers as well as councils across the UK
**Project Outcomes**
The expected outcomes of the TradeWork project are:
* Prove hypothesis that if AI is used in the construction industry then better outcomes (speed/value/time/risk etc) can be achieved.
* Market opportunity assessment for TradeWork leveraging AI
* Proof of concept integration of AI/ML into TradeWorks core platform
* Validate TradeWork's business case and demonstrate the potential of AI to improve the UK residential construction industry
**Project Approach**
The TradeWork project will be implemented in three phases:
_Phase 1: Research_
* Relevant business processes and data
* AI/ML technology, applications, and the art of the possible
_Phase 2:_
* Build AI/ML capability based on the research into the core TradeWork platform
_Phase 3:_
* Market research and business case verification and feasibility assessment
**Project Team**
The TradeWork project team is composed of experienced professionals with expertise in the construction industry, AI, and business development. The team is led by Piers Wilcox, who has over 20 years of experience in computer science and consultancy, supported by experts in residential construction and trade.
**Project Timeline**
The TradeWork project is scheduled to be completed in six months.
**Project Budget**
The total cost of the TradeWork project is **£57,929.20**. The grant that you are requesting is £50,000.00\. TradeWork will finance their contributions (~88%/£44k) via a business loan and additional Director Loan contributions. OneFourFOur will fund via cash reserves (~£6k).
**Project Benefits**
TradeWork has the potential to significantly improve the efficiency and accuracy of the construction process. This could lead to a number of benefits, including:
* Reduced costs
* Improved quality
* Shorter project timelines
* Increased productivity
* Reduced Waste
Lead Participant | Project Cost | Grant Offer |
|---|---|---|
Participant |
||
| HARDY WILCOX LTD |
People |
ORCID iD |
| Piers Wilcox (Project Manager) |