Sometimes, even with clear objectives and perfect project planning, your construction project may deviate from the course. Measuring the success of a project is beyond tracking the financials as an indicator of performance. It’s essential to analyze a set of Key Performance Indicators (KPI) to determine if your project is functioning according to the plan right from the start. Monitor construction success with Our Project KPI Service.
KPIs are metrics such as progress, cost, budget, the use of materials, the amount of waste generated, the number of complaints, accidents, etc. KPIs enable you to identify the areas that require additional focus to ensure the success of your project.
Boost the productivity and profits of your firm with Project KPI Services by Ninja Group. We leverage the power of Business Intelligence to take your construction business to the next level.
Manage your projects more effectively with data-driven decisions. Contact us for successful project management to fulfill your goals and exceed them with Our Project KPI Service..
The construction industry and its ecosystem are the foundation of our economies. It has successfully delivered ever more challenging projects such as erecting buildings, infrastructure and industrial structures, undersea tunnels to skyscrapers. However, the industry also has consistently underperformed in several areas for a long time. The Covid-19 epidemic could be another disaster for this industry that is particularly susceptible to economic cycles.
It is more crucial than ever for construction companies to identify business intelligence as a guiding star for what the new normal will look like in the aftermath and make bold, strategic decisions to become successful. Importantly, construction companies that can change their business models to integrate data at the project level, track Project KPIs and make data collection useful, stand to benefit largely, while others struggle to stay afloat. Business Intelligence is one such tool that readily allows organizations to discover patterns and monitor performance. Hence, construction companies can take advantage of these rich features offered by Business Intelligence service and begin to identify issues and improvement areas.
Benefits of business intelligence for the construction industry
Customers have begun to hold high expectations for smart buildings, energy and operational efficiency with structured flexibility. This may have a significant impact on the construction sector. Here’s how BI as a business intelligence tool can help the construction organizations.
Generate data-driven insights
Collect possible data that is critical towards your project and derive customer-ready insights. These data insights can help to ease collaboration to improve project planning, productivity and safety. It may include metrics of equipment usage encouraging early returns, equipment and labor productivity based on hours of operation, or unsafe project designs.
To create high-performing initiatives, many companies are already combining these insights with product and supply-chain innovation. Leading commercial real estate developers, for example, are already cultivating direct relationships with end customers and designing spaces that can be reconfigured quickly as needed. Similarly, highway developers are interacting directly with drivers to gain a better understanding of usage trends and to advise future highways designs and operations. Data-driven insights, in many ways, set the tone for the entire industry.
Manage projects’ health
Business Intelligence Service can display project data and help you to keep track of your project’s health with real-time data and easy-to-understand visuals. It is also possible to identify at-risk project schedules, isolate and segment-specific teams, zones, or disciplines as well as uncover specific actionable items. When you are armed with these insights, you may be proactive in resolving issue areas before they even start affecting your project schedules.
More accurate forecasts
Business Intelligence Service comes into its being when you are collecting data from multiple operations. Insights can be used to benchmark your team and better forecast future projects. You will have better cost control as well because you’ll be able to predict how long a project will take to complete and which areas are likely to incur additional costs. Using actionable insights, the entire team of developers, manufacturers and contractors can employ data-driven business models and produce efficient outcomes that favor end-user segments.
Collect all construction data in a single place
Data that is properly gathered, analyzed and ready for insights is extremely valuable. Because most of your construction data is frequently kept in your ERP system, you may use BI to integrate all of your active systems and simplify data collection and storage. This way, you can use BI to turn all of your data into actionable insights, as well as have real-time access to all of the data to keep track of project-related facts.
Visualize schedule reports
Even a minor inaccuracy in a building project with many moving elements can mean the difference between profit and loss. Using BI reports for construction company, you can readily identify any warning indications and take corrective measures before time. Whether it is getting a complete picture of your data using dashboards, analyzing property expenses, or finding out expected margins, Business Intelligence construction dashboard proves to be one of the most useful tools for reporting.