Predictability in Construction: Why You Need It and How to Get It
Delays in construction projects are nearly unavoidable. What is avoidable is the chaos and confusion that often accompany delays, and that have the potential to derail schedule and cost projections.
All you need for predictability in construction is the ability to see the future. Lucky for you, construction project management software gives you that power.
The Value of Predictability in Construction
Predictability is the cornerstone of construction project management. When changes to plans occur, crews must be able to quickly. They need to adapt and mitigate the impact of those changes to keep projects on time and on budget. They need fast and accurate forecasts of cost and schedule outcomes based on changes, so they move forward on the project by changing tasks and reassigning workers.
“Predictability is an effective risk mitigation mechanism,” writes the team at the Construction Industry Institute, a research and development center for the capital projects industry based at The University of Texas at Austin. “Predictability enables project teams to address project performance proactively and in a timely manner, through proper management decisions, and thus increase value to the organization.”
That value, of course, is more projects completed with fewer cost and schedule variances. However, there are a couple of additional benefits to be gained from predictability.
One is that you are more likely to make a profit on a project on which you can see time and cost impacts of changes because you can pivot to avoid delays and overspending as much as possible. The other benefit is the boost to your reputation as a company that delivers projects with minimum delays and cost overruns. This puts you in a position to gain more business.
“Improving predictability has major reputation and value-perception benefits,” explains business author Josh Kaufman. “The more predictable your standard offering is, the more you’ll be able to increase the perceived quality of the products and the services that you offer.” This means your reputation for completing projects on time and on budget will convince more people to choose to work with your company.
The right tech tools will give you the power of predictability. Technology-driven data analysis enables the early and accurate predictability that is so critical in construction.
Construction Project Management Tools Centralize Project Data
Predictability hinges on data. If your company still works with paper binders and electronic spreadsheets, your data is all over the place. You aren’t going to be able to forecast as accurately and quickly as you could if you were using construction project management software, like eSUB.
Such technology enables your teams, whether they’re in the office or in the field, to all enter project data in real time. The tool makes it possible for you to standardize processes for more meticulous data entry and reporting.
The software also centralizes the data in one location and analyzes the data in real time so you have solid insights into your projects. That visibility enables all construction teams on a project to work together to predict outcomes and meet goals.
“When we focus on information flow, critical data is no longer siloed within one phase of the project or within one company, or one trade,” writes the DPR Construction team. “It’s available to everyone throughout the process. That process then becomes more predictable, and that’s a win for all.”
Kasper Electric is one company that is seeing an improvement with eSUB. Prior to adopting the software, the company had trouble monitoring project health because data was entered manually via traditional paper processes. With the technology, Kasper Electric can monitor projects in real time which allows teams to make more accurate decisions.
“Our team gets together weekly to assess each project’s health using real-time labor, time, cost, material, and forecast data for analysis,” says Carmen Carbone, Kasper Electric’s former director of business development. “Today, we are increasing profit margins on the smallest of details while at the same time delivering the very best services to customers.”
To see how eSUB Cloud can help create better predictability in your projects, schedule a demo today.
Images used under license from Shutterstock.com.
