Statistics show that only 30% construction projects are able to forecast within 10% of their initial estimates, despite all the planning. This will not only impact the project’s potential to turn a profit, but also lead to schedule overages that can delay the next venture. These tips can be useful for construction project managers who want their budgets and schedules to stay on track.
Continue reading: What is Construction Project Management (PDF)
1. Get an Elite Materials Delivery Infrastructure for Place
Inefficiency in material delivery could lead to disaster in construction. First, it takes time to wait until the materials arrive. This slows down construction and sometimes makes it necessary for project managers or supervisors send their skilled workers to fetch the supplies. This can lead to a sub-optimal talent usage.
Last-mile delivery costs, which account for more than half the transportation costs, are also a major problem for the construction industry. Many construction sites are located in areas without clearly defined addresses. This makes it difficult for delivery companies to locate them.
Construction theft is a growing problem on construction sites.
Construction delays can be caused by material shortages. However, too much material can cause budget sabotage. Unutilized inventory can make it difficult for project managers and contractors to recover their costs. Construction theft is a growing problem on construction sites. According to some sources, it is now a $1 billion problem in the industry. Developers need to invest in better storage, surveillance and insurance to protect their material assets.
Solution: The best solution is to partner with material delivery experts who are familiar with the challenges that construction faces. This will enable project managers to quickly order the materials that they require and reduce the risk of carrying excess inventory.
2. Innovative payment tracking software is available
Each construction project will require a complex network of sub-contractors. Too often, it is wasted time waiting for payment from one entity. Levelset found that around 80 percent of companies say that they spend a lot of their workweek chasing down payment or lien waivers. This can cause delays and halt construction.
Solution: Get innovative payment tracking software to allow instant disbursement among all entities. The software integrates seamlessly with Procore, QuickBooks, and other software used for construction accounting. It can also be used as a digital repository to allow for the instant management of all lien waivers.
Continue reading: Quickbooks Alternatives & Competitors
3. Integrate Construction Management Software
Owners, management, and all project teams must be on the same page to ensure that a construction project runs on schedule. They must not wait for greenlights or go-aheads to join the project. To achieve this, all relevant documentation for the project must be readily available upon request. Communication must be made simple so that all parties can be notified immediately about important messages.
All relevant documentation for a project must be available upon request.
Solution: Integrate construction management software. This will give the project team unprecedented control over the construction process. It will allow you to easily store all project documentation and increase efficiency in communication. Managers in the mobile construction industry will find the best option for their business: a smartphone app.
4. Avoid Scope Creep
Scope creep is a common problem.
