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The Bricks of Benefits: Why Construction Companies Should Use Online Project Management Software?

The importance of good project management can never be overemphasized in the role it plays towards successful completion of a construction project.

Unlike in other industries, where companies usually have to handle myriads of projects simultaneously, but with limited number of tasks, for construction companies it is the opposite. They manage limited number of construction projects simultaneously, but each is characterized with myriads of tasks. Plus, the repercussions of inefficient management are far more costly, both in terms of time and money, for construction projects.   

Construction companies cannot afford a management lapse.  Serving as an example is the construction project, defined to erect the World Trade Center One. Originally having a price tag of $ 2 billion, it took $ 4 billion for the project to get completed – all because of inefficient project management.

As such construction companies are always looking to leverage top of the line solutions to implement comprehensive project management practices. In this context, online project management software can prove to be a useful tool for every player operating in the construction industry.    

The Benefits of Using Online Project Management Software for the Construction Industry

It Allows for Improved Resource Management

The allocation of resources in an effective and timely manner is important for the execution and completion of every construction project.

As a firm, working on an assignment, you cannot afford to under facilitate a project both in terms of human resources and equipment. It would lead to delays, resulting in the violation of deadline and even invite the risk of investors backing out, if the project progress is hindered for long.

This is where an online project management software can help you out.  By adopting a systematic approach of defining project requirements in advance – making sure everyone follows it and designating the tasks conveniently from a single dashboard, you can effectively resource a construction project. Also, if a sudden on-site equipment need arises, you can track the redundant equipment currently being deployed at another project and channel it towards the needed execution.

It Allows for Improved Cost Management    

A comprehensive online project management software gives way to improved cost management, during the execution of a construction project. 

• You can monitor the labor hours expended daily in the completion of a task and work out if it fits within the pre-defined budget.
• You can look at the total cost incurred in the execution of a project, up to a specific stage, and compare it with the quote provided for the completion of the construction job.
• You can monitor the cost of raw materials and equipment that have been procured in the execution of the construction project.

Using the available information, you can establish the financial trajectory of the construction assignment in progress and take necessary steps to mitigate the risk of cost overrun.

It Allows for Improved Reporting System

An online project management software allows the employees working on a construction project to upload daily progress of the assigned tasks, right from the site – furnishing important files and pictures where appropriate.

This accounts for an improved reporting system, keeping the project managers updated and ensuring that everyone is on the same page. Some software solutions also allow client accessibility feature, where the clients can themselves track the progress of their construction projects and remain equipped with an up to date information.

By incorporating an online project management software solution as part of the operations, construction companies can ensure effective, efficient, quality and timely project deliveries to their clients – all within the pre-defined budget.