Any organization that executes on major projects will know the importance of gathering information on how far along they are on a project. In other words, evaluating Percent Complete. Evaluating that by activity, by phase, by project, etc. At 4castplus, we refer to this as a "Progress Measurement" and it serves as a critical function for calculating analytics such as Earned Value Management (EVM) metrics. Measuring progress however, is a tricky thing to do; and can cause companies to not bother with it if they don’t have a good system and process in place. This is unfortunate as it is a vital part of project management and project controls on major projects. Without it, you’re flying in the dark.
Taking the Leap? 10 Questions You Need to Ask When Looking at Construction Procurement Software Solutions
Your choice of construction procurement software can have a significant influence on the costs, productivity and success of your projects. If you’re looking for a software solution to enable the management of procurement on your construction projects, you want to make sure your teams are armed with the right amount of power and ease of use – after all, a significant amount is riding on what happens in procurement. For most major projects, a substantial portion of the total project costs are issued through purchase orders and subcontracts. You really need to get that right!
If you are hiring subcontractors to work on your projects, you likely want to keep track of how they are performing for you. Being able to objectively measure subcontractor performance is critical for project managers, so that they can make key decisions to keep their projects running smoothly. However, subcontractor performance management is difficult if you don’t have the right tools in place to measure productivity.
One of the first principles of project controls is that the project budget has to be time-phased over the duration of the project. Here’s why: It’s not enough to simply know the total budget for a project – it’s critical to also know when that budget is planned to be spent. In other words, each quantity of material, labor hour or subcontractor service that’s planned for the project, is planned to occur at a particular time on the project.
Changes are inevitable on projects. No project manager in their right mind moves forward with a project not expecting changes to happen - fluctuations in scope, cost, schedule and activity can happen almost daily. In this article, I want to tackle a segment of change management that I often come across in conversations. Which is: the different types & states of Change Events that can be registered on a project; and some of the nuances of each. The three main project change events are:
“If you keep going at this speed, you’re going to be late!”
That’s my simplistic real-life analogy of earned value management. It’s a simple bit of math that we all do in our heads anytime we’re trying to get somewhere or finish something. If you gave yourself an hour to get there and after a half-hour you’re still less than half-way, you’re going to be late. It’s that simple. As simple as it is, it requires us to know quite a bit of information about the current situation in order to calculate late vs. on-time. Just like EVM, you need to know 3 key elements to make the calculation:
New Report Finds Project Profitability and Replacement of Manual Methods as Top Reasons For Project Management Software Buying Decisions
After interviewing thousands of buyers looking for Project Management software, Software Advice has compiled an insightful report that sheds light on key factors buyers are using in their purchasing decisions
Key Findings Include:
EPCM organizations that are using just Timesheet & Billing software are finding themselves swamped in spreadsheets to cover the greater technology needs they face. It used to be that all an EPCM needed for enterprise software was a decent-enough timesheet tool to track their billable hours; and an integrated billing tool to invoice their customers. Things have evolved however, and EPCM’s are now seen as the go-to company for project management, procurement, document management, project controls, etc. These requirements obviously go well beyond what a timesheet tool can support. So, confronted with a lack of available tools, project managers & engineers have resorted to building cobbled-together solutions in spreadsheets to cover the gaps.
Managing the complexity of procurement for large construction projects requires an exceptionally robust technology solution.
Most commercial procurement software solutions are designed to handle general purchasing for a broad range of businesses and industry applications. Procurement for construction projects has more complex needs such as: