Blockchain-Enhanced Project Management Systems in Engineering and Construction

Abstract

This study covers the integration of blockchain technology with project management systems in the field of engineering and construction to create an efficient project workflow with regard to transparency, security, and efficiency. In this research, a blockchain-based framework was created for the sake of streamlining workflows in the management of projects, resources, and waste management. Key algorithms relevant to the implementation of blockchain technology were covered, including PoW, PoS, PBFT, and DPoS. Results will be highly improved in data integrity, real-time monitoring, and cost-effectiveness. For example, resource tracking using blockchain led to a reduction of 25% in the delay of operation. The recycling rates of the waste management system also increased by 30%. Also, the security of project data was improved by 40%, minimizing unauthorized access incidents. Comparative analysis against traditional project management methods also showed the superiority of blockchain in traceability and fraud reductiveness besides better accuracy in decision making. From the findings, there is a tremendous potential of revolutionizing construction project management by providing a secure, transparent, and an efficient platform for all stakeholders. Hence, research benefits may point toward sustainable innovation for future developments in engineering projects, promoting the application of this technology to other industries in the future.