This is a very big topic that could take volumes to discuss in any detail, but I promise not to bore you with anything like that. So here are 5 little gems of information that you should be doing to make sure you’re projects are consistently in control, on budget and on schedule.
Construction contractors are increasingly adopting technology to track their daily costs and activities from the jobsite. Some will refer to this as tracking their daily LEM – which stands for Labor, Equipment and Materials – however others may call it Field Data Capture; and some may call it the Daily Field Report, or Site Superintendent Report. Although we’ve adopted an industry term, “Construction Cost Tracking” as a general name to describe the activity and process, we tend to use “LEM” as the term that describes the final document(s) that contain all the jobsite data that gets tracked.
If you’re familiar with 4castplus at all, you’ll know that the system enables contractors to track much more than labor, equipment and materials. There’s clearly much more going on than that – so a “LEM” is just a term used that encapsulates the broad variety of everything that gets tracked. Other data that gets captured in the LEM includes: labor expenses like subsistence and meals; along with 3rd party vendor expenses; material field receipts; daily log and the weather. Field personnel can also input production quantities as progressed items that are completed. It also allows field personnel to upload any number of documents into organized document repository categories. There’s additionally a very powerful Vendor LEM option to track the costs and expenses from subcontractors.