Information Management in Construction Project: Potential of Blockchain Technology

Abstract

It has been well established through research works and experience of construction professionals that smooth, transparent, traceable information flow is absolutely essential for better coordination among
stakeholders in a project. This challenge of information management has been met to a good extent through centralized information systems, tailor made for each organization. However, poor information management and resulting poor coordination still persists in projects. Through extensive literature
reviews as well as detailed discussion with construction professionals, identification & categorization of issues with the present Information system has been done. Blockchain technology as an alternate solution to the information management issues in Construction projects has been studied in detail
starting with basic understanding of the technology itself to development of concept framework models for its potential applications in the construction projects. Further, some case studies have also been reviewed to get a better understanding of overall advantages, challenges & limitations associated with
the technology. For assessment of features of technology and its potential in addressing the requirements, detailed discussion with Blockchain professionals and survey was done. The features of the technology have been compared with the issues and an analysis of the same has been done to review
and analyze the potential of applicability of blockchain to address the requirements. Recommendations have been provided at the end which provide way for future works in this regard.