Archive for Business Intelligence

Construction KPI Dashboards: Creating Championship Level Projects through Analytics

See how to create championship level projects through construction KPI dashboards!Last night while watching game seven of the World Series I couldn’t help but notice how each team had optimized their rosters utilizing the “Moneyball” tactic – an approach to competition that emphasizes rigorous statistical analysis of player performance to field a team that can better compete against richer competitors. I quickly realized that this same “Moneyball” tactic was already being utilized by the top performing construction firms.  As the competitive business market continues to stiffen, top performing construction owners and project managers are utilizing Key Performance Indicators (KPIs), metrics and project analytics – displayed in the form of easy to comprehend dashboards – to increasingly improve project performance and profitability. Let’s examine some common construction KPI dashboards that your organization can implement to help you win your next championship.

Examples of Construction KPI Dashboards

  1. Labor Costs: Actual Versus Baseline. Tracking and monitoring actual labor costs vs. baseline labor costs is a great way to monitor the overall health and profitability of your projects. On-screen dashboards and advanced reporting utilities allow project managers to compare original cost estimates, actual costs, projected costs and understand variances between labor costs, anytime, in detail throughout the life of the project.
  2. Estimate at Completion / Estimate to Complete. Schedule based metrics help your project managers to determine if projects are on budget and scheduled to finish within the overall budget. Tracking Estimate at Completion and Estimate to Complete in real-time allows project managers to add predictability to projects by forecasting the amount of money that will actually be spent on each project. Remember:
    • Estimate at Completion is the forecasted cost of the project, as the project progresses.
    • Estimate to Complete is a forecast of how much more money will need to be spent to complete the project.
  3. Quality Control. In order to consistently manage championship level projects, it is critical that our construction KPI dashboards are proactive as well as reactive. One way to accomplish this is to utilize key indicators to improve the quality of completed jobs. Projects with quality control issues often miss inspections and fall short on appropriate documentation. Consider creating construction KPI dashboards to monitor:
    • Number of inspections
    • Level of engineer or architect involvement
    • Overage, Shortage and Damage reports
    • Subcontractor records and qualifications
  4. Safety. A project accident or fatality can ruin the hard-built reputation of a construction company. A predictive construction KPI dashboard can help project managers create safe, OSHA prepared projects. Safety KPIs include:
    • Number of safety meetings
    • Communication and notification tracking
    • Personnel safety records
    • Project-by-project OSHA self-audit grading

Develop Your Own Construction KPIs

These are just a few examples of construction KPI dashboards championship level firms utilize to help their project managers navigate their busy schedules with real-time information. We would love to hear from you! Comment below to share with us the metrics or KPIs your firm is tracking.

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Construction CRM for Contractors: Uncompromised Business Intelligence

Construction-CRM-for-ContractorsContractors often tell us that they are seeking better ways to sync their firm’s business intelligence between their office staff and road warriors. Firms that fail to implement a mobile-friendly Customer Relationship Management (CRM) system waste time and money, lose critical project intelligence and struggle to deliver on customer expectations. It’s time to ditch outdated spreadsheets and manual processes and see how you can win more work with a mobile-friendly construction CRM system designed specifically for contractors.

Why Should I Choose a Construction CRM System Designed for Contractors?

A centralized CRM solution enables contractors to cultivate relationships and gain valuable insights into account/project management efforts. But what does this mean for your firm? Construction CRM for contractors means bringing together data from all project related data sources to provide a comprehensive real-time view of each customer or opportunity. This real-time knowledge provides your team with the metrics and data needed to make informed decisions in a quick, yet calculated manner.

What Does CRM Mean for the Key Players at My Construction Firm?

A construction CRM system benefits each member of your firm, including:

  • Business Owners | Quickly log critical information or reminders from the office or while on the road. Never lose a critical contact’s information ever again by storing contact information in one centralized location. Readily available intelligence allows your business development staff to go out and produce, and track results.
  • Project Managers | Gain a 360-degree view of your projects by combining customer information with job status updates and project financials. Doing so will help you outperform the competition and win more repeat work.
  • Construction Accountants and Controllers | Adopt an integrated construction CRM solution to help monitor the critical financial sources that impact your firm, including bids and opportunities, current jobs, marketing programs and sales opportunities. Align your accounting, project management, and CRM systems to better understand what efforts are working, and what efforts need attention.
  • Business Development and Marketing | Never miss out on an important project again! Bid tracking and management tools allow you to understand what bids are in the pipeline, when each is due, who is working on them and document the next step. Reporting tools provide you with critical insights into profitability by customer, division, territory and more.

How Does a Construction CRM System Impact Future Growth?

The answer is simple; a CRM solution designed for contractors means that as your business grows, your established contacts and relationships grow with it. It is important to not only track valuable customer data but to do so in a way that promotes sharing amongst your team. Promote growth and sharing and consider taking your customer data into the cloud with an all-in-one mobile-friendly CRM solution that consolidates all your information into an easy to access system.

Improve Business Intelligence with a Construction CRM for Contractors

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