Benefits of Digital Twin in project management

The use of Digital Twins in both greenfield and brownfield projects revolutionizes project management in construction, and plays a vital role in our approach to factory design - Integrated Factory Planning. Companies in the Czech Republic are increasingly aware of the significant advantages of this technology. As a result, it has become a key essence for the success of any new projects.

The development of digital tools for more efficient construction of buildings is advancing rapidly. The Czech Republic is embracing this trend, with digitalization now being supported on a larger scale. The most prevalent technologies used in these sectors are BIM (Building Information Modeling) and Digital Twin. These tools are applicable throughout the entire building lifecycle: planning, operation, renovation, and demolition. Thanks to 3D scanners, the Digital Twin can be nowadays implemented even during later phases, such as the renovation of existing buildings.

As project complexity in construction and industry increases dramatically, along with the pressure on deadlines, Digital Twins have become essential for effective project management. They enhance collaboration by providing a single source of data, improve productivity through scenario simulations, and aid decision-making with real-time data. They also help predict and mitigate risks and optimize costs.   

Vizualization: components of Integrated Factory Planning (IFP)

In IFP, the application of Digital Twin within Industrial Metaverse increases transparency to all project participants, and more importantly, it facilitates the optimization and control of the entire factory from planning through virtual and physical commissioning to operations. During the concept and design phases, the Digital Twin enables the configuration of production and assembly facilities, including the associated logistics processes. Comprehensive supplier management and project management then ensure the achievement of cost, quality, and deadline targets in all areas -conveyor, plant and production engineering, logistics and warehousing, and the building itself.

Beyond conventional applications, the Digital Twin is now used in the production sector also in combination with Omniverse. This allows a greater use in supply chain management and the increasing adoption of big data analytics, Internet of Things, and cloud and edge computing platforms. The combination of these technologies results in the creation of accurate, reliable, and optimized Digital Twins that offer even greater business benefits.

Thanks to these digital advancements, project management is becoming even more precise, transparent, and collaborative, leading to significant time and cost savings. Our current practices confirm that, compared to conventional methods, the Digital Twin e.g. in refurbishment of existing buildings can save up to 10% of costs.

Looking at the outlook based on our research, technologies such as the Digital Twin are gaining even greater importance in synergy with AI. The current global market value of this technology is nearly €10 billion, and it is projected to grow at an average rate of 33% over the next eight years.