5 tips to help you keep construction projects on time and budget
One of the big challenges faced by the construction industry is projects that stretch timelines and budgets. Delayed schedules are so common, they can be seen to be the norm, not the exception. This erodes trust, plans for future projects and ultimately affects your profit margin.
So how can your business build a reputation for delivering construction projects on time and budget? Even if you work towards solving just one of these issues, you’ll probably see positive effects ripple through other parts of the business too.
1. Connect teams and increase collaboration
Anyone working in the construction industry knows that fragmented teams can cause a variety of issues. On-site and office teams often take opposing views to communication, collaboration and sharing information. As well as creating a less-than-ideal working environment, this often holds projects up, increases errors and can unknowingly impact your profits.
A cloud management platform that’s designed for construction may be the key to change. You can solve these problems by facilitating communication and information sharing so teams actually work together to solve issues. Managers can move seamlessly between on-site and the office and everyone – even contractors – can access the same up-to-date information.
2. Solve issues faster with real-time visibility
If departments are siloed and business systems are disjointed, then pivotal information is probably falling through the cracks. This means accessing the true state of the project could take days of manual data management as some teams keep their information in different formats. Aside from the time wasted that could be spent elsewhere, by the time this data is collated it is probably weeks out of date. Now management is relying on gut-feels, guesses and assumptions, instead of solid data, which makes it nigh-on impossible to catch issues and respond quickly.
Replace these disjointed systems with an online management software for construction businesses. You’ll have all the information you need feeding into the one system so you can get real-time insight into how your project is doing at every stage. You can now identify issues earlier and make preparations if you suspect things aren’t on track. Ultimately, having accurate information in front of you allows you to make better decisions, stick to budgets, avoid errors and keep an eye on progress.
3. Keep clients constantly up to date
This is an easily overlooked step of project management but a really important one nonetheless. If you don’t keep your clients informed, they’ll likely get ambushed by timing and budget issues that are out of control by the time they find out. This will mean they’re frustrated and have limited options to solve the problem.
A cloud management system allows you to streamline communication with your clients by giving them secure access to selected areas. With real-time information in front of them, they’ll have advanced warning if things are going south. This means they are more likely to work with you to keep the project moving, choosing between options, seeking additional funding or helping to reduce scope.
4. Accurately estimate and forecast project costs
A big part of delivering projects on time and within budget is ensuring the timelines and budgets are correct from the get-go. With so many factors to be considered, large construction projects have a higher risk of inaccurate budgeting. Experienced experts can help guide you, but nothing beats real data. That’s why we recommend a cloud management tool which will help you benchmark your performance, get accurate job costings and estimates for future jobs. Your project quoting will become more accurate with insights collected from past projects fed through to future estimates.
5. Automate and streamline to keep costs down
All too often we see construction teams using all different software systems, spreadsheets and notepads to manage different parts of their work. These disjointed processes create complicated workflows and almost always cause problems down the track. If you operate in this way, it’s probably very hard for you to get an overarching view of what’s going on without spending hours manually consolidating the data.
Online tools designed for the construction industry present a stark contrast by helping you automate manual tasks and workflows, streamline admin work and eliminate errors. This frees you up to focus on managing the project and saving time and money. Your team will also feel the benefits too as it frees them up to focus on the tasks required to keep the project running smoothly.
One of the biggest challenges faced by the construction industry is effective project management. Download our FREE guide to ensure your business is taking the right steps to building a reputation for delivering projects on time and budget whilst maximising your profit margin.