The construction industry continues to evolve year after year—projects become more complex and plans become more ambitious. With technology and experience backing the growth of the business, one can only assume that construction companies today have also become more confident with their ability to achieve targets and maintain budgets.
Yet, according to a KPMG study, done in late 2014, involving over 100 private and public organizations that carry out significant construction activity:
In the previous year, 53% experienced one or more underperforming projects
In the preceding 3 years, only 31% of all respondents projects came within 10% of the budget
In the preceding 3 years, just 25% of projects came within 10% of their original deadlines
One of the biggest challenges that construction companies often encounter is an inability to manage the project efficiently. Construction, after all, has numerous moving parts that need to operate and function seamlessly. Without a reliable project management methodology, productivity decreases, risks increase, and project management disasters will be inevitable.
To prevent this, here are some useful tips to consider:
1. Define project essentials
It’s always best to start by defining and understanding what you want to achieve to get a better idea of how you will achieve it. Why are you taking this approach to completing your project? How do you intend to carry it out? Who are the stakeholders involved? How do you intend to track key metrics?
Making sure that you answer these questions helps you map out your way forward with the project and define parameters that your team needs to ensure project success.
2. Prioritize critical project elements
During this early phase of planning, it’s important that you identify critical aspects of the project that will create the most impact for your project. Give priority to each element that highlights strategy implementation, anchored on key factors such as resources available to your organization and whether or not it helps you reach objectives.
3. Plan your approach in detail
This is essentially the backbone of your project management approach. How you plan out the different elements of a construction project gives your team members an opportunity to approach the project systematically and efficiently.
Start by breaking down your project into manageable pieces. Identify the what, when, how, and who. Next, make sure that you create a quality control plan to support your initiatives. Identify critical elements such as duration, cost, resources in your plan, as well as key milestones.
It’s a good idea to use a construction project management software to easily keep track of the different elements involved in this phase. Doing so gives you an unmatched level of transparency and efficiency as you plan your project.
4. Monitor progress diligently
After identifying key metrics and milestones, be sure that you systematically track and measure your success. You want to track schedules, monitor spending, and track usage of resources efficiently and accurately to ensure everything is consistent with your original plans.
Doing this diligently lets you quickly detect any variations or discrepancies, allowing you to evaluate and assess your next steps.
One last thing…
Before you finalize your project and mark it complete, be sure to compare your output with goals you have set to find out which areas you can further improve for future projects.
A big factor that contributes to improving project management for construction projects is choosing the right tools. If successfully creating a consistent approach to project management is a challenge, visit PASKR to find out what we can do to help.