Being successful in construction isn’t just about a finished project. While completion is certainly important, the outcomes that you achieve during and after the project also matter a great deal.
Five essential construction KPIs to focus on improving are winning more business, minimizing costs, maximizing quality, optimizing project schedules, as well as promoting health, safety, and sustainability. Effectively delivering on these KPIs will result in short- and long-term success for everyone involved, which is why construction pros should strive to achieve them.
Our latest ebook, How Digitally Connecting Workflows Dramatically Improves 5 Key Construction KPIs, discusses how you can improve these KPIs by digitally connecting construction workflows. Download it for free.
Essential Construction KPIs
1. Winning business
Many contractors want to win more business, and in today’s modern landscape, connected construction technology is one of the best tools you can have to achieve this outcome. When your workflows and systems are tightly integrated, you’re able to automate various tasks and be more efficient with your bids.
It also paves the way for better stakeholder engagement and collaboration. Connected construction technology keeps everyone on the same page, reducing issues with miscommunication.
In addition, a connected construction platform makes data more accessible. Information from different projects can be stored on one platform, so it’s easier to surface insights and analyze trends. This, in turn, can give you the information you need to make smarter bidding decisions.
Maintaining cost-effectiveness in projects is critical to success. Unfortunately, the majority of construction pros regularly run into cost-related issues. Research by Dodge and Autodesk found that 66% of general contractors incur additional costs from overtime and second shifts on at least three-quarters of their projects.
Connected construction helps solve budget issues for contractors in a number of ways. A robust platform can provide detailed reporting, allowing you to produce accurate forecasts, obtain better cost controls, and improve subcontractor qualification.
Not to mention, the enhanced collaboration between all parties greatly reduces inefficiencies and helps stakeholders resolve problems quickly.
As Michael Shurgalla, CADD Manager at Moffatt & Nichol, points out, “Connected construction allows teams to identify and resolve issues promptly, which significantly impacts costs before they appear.”
Quality issues lead to rework, which is a major headache for contractors.
Here’s the thing, though: many of the issues that cause rework are actually preventable. According to the Autodesk and FMI report, Construction Disconnected, 52% of rework was caused by poor project data and miscommunication.
Connected construction addresses these problems by bringing together various project workflows, ultimately reducing or even eliminating rework.
What’s more, connected construction technology makes design reviews much more streamlined, thus helping stakeholders spot and prevent constructability issues before they lead to rework problems down the line.
Connected construction can also keep teams and projects right on schedule.
When your tools and workflows are integrated, it’s easier to view the project timeline and determine what needs to happen and when. Armed with this information, contractors are able to spot opportunities and risks so they can optimize the project schedule accordingly.
Plus, having the right data at your fingertips allows for more efficient resource allocation, so you always have the necessary resources at the appropriate time.
5. Health, safety, and the environment
With connected construction, you can have safer and more sustainable projects.
Integrated workflows and better communication between different parties promote a stronger safety culture in the workplace. Having better access to data also improves visibility when it comes to risks and hazards, so you can prevent safety issues on-site.
In terms of being environment-friendly, a connected construction platform makes it easier to source materials sustainably and ethically, enabling contractors to obtain the resources they need with the environment in mind.
Download the ebook for free
We dive deeper into these construction outcomes in our new ebook, How Digitally Connecting Workflows Dramatically Improves 5 Key Construction KPIs. Download it today to start improving your performance and results.