Let’s begin the article with a fundamental question that is as imperative as the answer itself that lies within the question: Should every construction business invest in a construction management software or application, or is it an ill-conceived idea, especially if you’re a startup or an SME in the area of civil construction? For instance, today’s construction accounting software helps companies organize, plan and estimate project costs.
Almost every project management tool available today is integrated with several features that make short work of planning and decision making in the case of deviations, managing budget, cost control and job scheduling. Now, is it worthwhile investing in construction management software? This article will deal why an integrated construction project management software suite is the need of the hour. Read on...
Makes life easier:
Construction management always requires a systematic approach as most projects are executed on a phase by phase manner. Project Management, by and large, is a highly skilled task. Typical construction management software would allow the construction ecosystem including engineers, project managers, contractors and sub-contractors to create professional RFIs, transmittals, submittals, change requests and business letters, and instantly disseminate valuable information. Any construction project’s escalating costs and budget deviation can be instantly tracked with the help of integrated construction project management software. Overall, the construction software can standardise certain procedures that a conventional method can fail to deliver during the start and course of the project.
Documentation and document control:
Most construction processes involve a lot of documentation like supplier bills, supplier and workers’ contract agreement, etc, and require cumbersome and tedious paperwork all through the course of the project. Imagine the efforts that would go into documenting each and every process phase-wise and controlling them for seamless execution and accurate tracking of individual tasks. This is where a construction project management can prove more than useful for documenting individual tasks and processes, and storing and controlling them for project execution and update.
Data access and sharing of data:
Because all the information and required data is stored in the preferred and standard format in a centralized storage location, every vital element of the chain or link in the ecosystem is well-interconnected. Data is centrally available at all times for access and sharing. Also, data once entered cannot be tampered and edited without prior permission as audit logs clearly indicate when an individual or set of data was entered and updated by the assigned individual or executive. By this, the transparency of a single or set of processes and activities can be rigorously maintained to avoid favouritism and irregularities in the handling of funds and sharing of inappropriate or incorrect information.
Risk Management & Compliance:
This is an important criterion that needs to be ticked almost every time along the construction and building process. Every construction process would be stuck in a quagmire of risk activities that need to be assessed, understood and eliminated for the continuance of a project. Once the risk is managed, or completely eliminated, necessary action steps should be taken to avoid the recurrence of a risk and a compliance process set up in place accordingly. Construction management software for builders and contractors, more often than not, is all about risk management and compliance to a particular process or set of processes. Construction and building processes failing to comply with the required protocols or assigned regulatory points will be doomed forever.
Most processes generally fail due to mishandling of resources or control or, in other words, there is essentially no control over the creation and execution of activities or a group of activities. Project management software ensures that due access control is assigned to the right executive or a group of executives, and ensures that there is no gaps in the access or dissemination of valuable information and data. This will enable any construction firm to adhere to compliance standards, operate more effectively, enable uninterrupted flow and sharing of information, evade useless overlaps, and prepare and share the required reports within the assigned groups regularly.
Cost control can make or break a construction and building project, let alone increase the profitability or bottom-line of any project. Budget allocation is a vital cog in the wheel that sets off a series of chain reaction in the furtherance or continuance of a project. Budget Management is the next link in the chain that needs utmost attention and meticulous reporting all along the way—and not once in a while. Let’s not narrow it down only to tracking and reporting of expenditures or spends, but rather expand the range of project management software to predicting the expected spend or the desired outcome. Construction ERP Software puts the project right on track in terms of budget allocation, maintenance and cost deviation, all of which will have a huge impact on the success of the project.
Any construction firm will have multiple project tasks ranging from sourcing project leads, selecting suitable building ground and considering architecture, design and building costs. Any reliable project management software will provide documentation capabilities, as already seen above, and secure database for all info related to a particular project or multiple projects. All the project manager has to do is to login to the dashboard provided to monitor the status of all on-going projects. By this any construction firm can have a firm control of the projects, and easily predict the outcome of every project.
Any construction project management software is nothing but a collection of data analytics that throws out data required for the continuous monitoring, execution and course correction activities of a project. Data is the biggest asset for any civil construction firm to build on one process after another; firms that are project management tool dependent always reap early benefits with powerful data analytics and insights.
Any civil construction and development firm that is bereft of a reliable project management software would be left behind in competition with the rest. If a firm’s bottom-line is taking a severe dent, it’s time to re-consider its strategy, and deploy project management software at the core of its operation.