5 Critical Project Management Metrics Every Construction Company Should Track
Data can help companies understand the quality, efficiency, and progression of their work. A simple assessment of gathered data could lead a company to more streamlined workflows, added training initiatives, and better communication. In the construction world, where there are many literal and figurative moving parts, data is essential.
Construction companies need data to accurately price projects, yes, but it goes beyond finances. Project management metrics, data about the minute details of a project, promote a safer, more efficient, and more cost-effective construction project. The ROI on project management data collection is considerable because companies gain insights about details that might otherwise go unnoticed.
Tracking project management metrics don’t have to be complicated. In fact, it can be automated with artificial intelligence. INDUS.AI’s construction management software can collect vital data about any and every construction project, and help companies understand where they are succeeding, or where they can improve.
Still skeptical? Here are five essential project management metrics every construction company should track, and how they help project managers improve the safety and efficiency of their sites.
Safety is one of the key concerns of any construction manager. Safety can include anything from ensuring workers are properly outfitted in gear, to ensuring that they do not enter hazardous zones. Now, it even includes wearing PPE and maintaining social distancing in response to the coronavirus pandemic.
With the use of INDUS.AI’s construction management software, data about safety measures can be collected 24/7 and offers project managers insight into everyday risks. The system can alert a manager when a worker enters a danger zone, is at risk of being hit by falling objects, or even removes their PPE. While this certainly helps managers remedy the issue at the moment, it also helps by providing historical data about the site.
If a recurring safety violation occurs, or workers enter danger zones frequently, this data is collected through the software and can be assessed at a later date. This provides managers with the information needed to remedy any issues. Perhaps more safety training is needed, or perhaps better signage is needed around a specific location on the site. These safety metrics can be monitored and measured for an accurate understanding of safety hazards on site.
Understanding a project’s progress is essential for any type of planning on-site. It affects the delivery of materials, increases or decreases in costs, labor needed, and even the contractors’ relation to project owners and the owners’ relationship with the customer. INDUS.AI’s construction management software can monitor key elements that contribute to project progress.
With the AI-driven system, construction site managers can monitor top floor cycle time on any given project. The system collects data 24/7 to give accurate insights on each activity’s progression, as well as what is needed to complete the project. This helps project managers understand where work could be more efficient or track projects on time.
When it comes to high-level meetings about a construction site, INDUS.AI’s system provides stakeholders with metrics to help understand any construction delays. This data is essential for estimating completion dates.
Performance & Efficiency
Every project stakeholder wants a construction site to be efficient. Monitoring performance on a job site is challenging, however, without the use of a data-driven system. INDUS.AI’s system can help project managers understand which elements of a project are slowing progress down.
By automating site activity tracking, the stakeholders can get a comprehensive view of all elements at once and view cycle times or historic data as well. The system can also report when key activities haven’t started per schedule for a project. These data sets are invaluable resources for construction managers because, together, they reveal whether a site will stay on track or if it will lag.
Preventing Mistakes Before They Happen
In the construction industry, a simple mistake can become a costly error when left unchecked. Through INDUS.AI’s construction intelligence platform, contractors can monitor project progression in real-time and conduct remote inspections to identify any mistakes, errors, or possible roadblocks in work. This keeps projects on track and also reduces any profit losses resulting from rework or impact to the schedule.
The AI-powered systems can also conduct automated inspections that otherwise would extend the time required on a project. Through the use of artificial intelligence, automated inspections can tell site managers immediately if there is an issue with a particular aspect of a project. This prevents unnecessary rework on already-completed aspects of a project and minimizes time and money lost on correcting mistakes. For example, identifying missing or misplaced deck elements before the concrete pour, eliminating the associated costly rework.
Material Delivery and Removal
The delivery of materials and resources to sites is a time-consuming and often a high-stakes element of construction. Site managers need to ensure that materials are delivered on time, to the correct location, and in the correct amount. With many active agents in this process, materials must be delivered on time and appropriately.
INDUS.AI’s system can monitor when trucks arrive and depart the site, as well as the flow of materials through the laydown areas, and track these elements automatically. If any disputes arise, contractors, subcontractors, and other site stakeholders can assess this data to understand the amount of product delivered as well as whether or not it arrived on time.
Artificial intelligence can increase the efficiency and safety of any construction site by providing consistent, dependable metrics about all essential workflows on a given project. This streamlines communication provides for proper estimations and helps companies stay on track with each project.
Curious to know what INDUS.AI’s system can do for your project? Let us give you a demo.