Over the past two decades, the construction industry has seen significant advancements in the way it manages progress and performance with the utilization of cutting-edge data collection and reporting applications. Projecting cost overruns and forecasting risk associated with the schedule of a project has enabled large capital construction programs to have a better understanding of what components of a project are doing well and identify areas of improvement.
Different economic crises have pummeled the construction space. By force, the industry has had to adapt from having 50% to 10% contingency funds available for a project. The COVID-19 pandemic is the latest variable of risk that has impacted the industry. Once again, the importance of risk-averse approaches to the overall management of large projects is being put to the test. Regardless, the projects move forward. They may not move as fast as planned but buildings, roads, and infrastructure must be built for the safety and efficiency of the ever-growing world population.
So, when asking the proverbial question; “If construction must go on, how do we do it under the current constraints?” the answer is simple, find opportunities for efficiency. If you already have, FIND MORE! For any program to be successful under constraints, like the pandemic, it must invoke the following:
● Collect as much real-time data as possible about the current state of the project. By doing so it will allow program managers to have clearer visibility as to what is on the horizon as opposed to what is in the rear view mirror.
● Make it easy. There is a multitude of solutions available to the industry. Not all of them are fit. Some are “clunky”, over-complicated and hard to implement. Others are a little bit easier but do not offer much flexibility. The bottom line is that a program must choose a solution that strikes the perfect balance of easy and providing the information it needs.
● Most importantly, the program must partner with a Project Controls outfit if not already in place. Most programs will consist of the typical Project Manager, Construction Manager, Financial Director, and so on. All are valuable members of any construction program however they are not focused on the implementation of a data collection solution. If they were, it would present an opportunity cost of being pulled away from their “day job.”
Every organization needs a partner that can quickly stand up a system, evolve it quickly as necessary, and act as a training and troubleshooting resource. To learn more about the OnIndus team and the suite of services, reach out to us, we would love to hear from you! https://www.onindus.com/contact