Construction Project Profit Fade

Know Your Measured Mile

Arm yourself with the best information to increase profitability

Imagine how fast you can run a mile on flat ground with no wind in mild conditions. Then imagine your pace in 90-degree heat, running uphill.

 

Your unhindered pace in the first scenario will be hard to match under the “hindered” conditions of the second.

 

On construction projects, your work is hindered when things outside your control slow down your work, eroding profitability in a way that can quickly spread to other projects – an ongoing source of profit fade.

 

Your “Measured Mile” is the difference between your normal, unhindered rate of performance and your rate when obstacles impose themselves.

 

It’s a concept often used in lawsuits to determine damages based on the difference in cost between normal and challenging working conditions.

 

You need to know your normal, unhindered pace to calculate the added costs of hindrances. Best practices and the right project management software can help establish your measured mile, show you when projects are off pace, and identify steps for mitigating project fade and other threats to your project timelines and profitability – as well as standardizing project management so you can scale.

 

eSUB Identifies & Tracks Your Measured Mile

 

With eSUB CLOUD, subcontractors can access the most accurate project status, field conditions, labor productivity, job cost progress, and project changes to ensure optimal insight and confidence, leading to greater profitability and the ability to win more projects.

 

Not only can you document your measured mile accurately, but you can also avoid having to make the legal argument by documenting all changes and submitting proper documentation in real-time. eSUB CLOUD’s document management capability lets you create and manage change orders, purchase orders, RFIs, submittals, and other documents and forms in real-time.

 

Don’t leave yourself at a disadvantage by working without the right tools for tracking, documentation and greater profitability. eSUB CLOUD makes it easy with Field Works Mobile AppRFI tracking capability and change order tracking.

 

To learn more about eSUB CLOUD, share your project management challenges and we will provide you with a personalized demo so you can start to see how we can eliminate your profit fade and other project challenges.

 

Contact us to learn more about eSUB project management software

 

Graphic courtesy of ASCE