5 Tips for Effective Construction Project Management
To maximize your profit on a given construction project, you need a reliable way to forecast and manage your costs. Looking at cost data, you can estimate costs for things like laborers, skilled labor, supplies and equipment. With this information, you can better understand the factors that affect your bottom line and consider different construction staffing solutions to reduce labor-related costs and increase revenue. Below, you can find some tips to help you better manage construction costs.
Tip 1: Try Construction Project Management Software
There are many construction project management programs that can help you collect and manage data so you can make more informed decisions about your business. This also makes data available to your entire organization, which can improve communication and efficiency.
Tip 2: Document Everything
Be adamant with your team about documenting all activity. This way, if the project goes over budget, you’ll have that documentation to understand why, get paid for additional expenses, and establish a plan to help prevent this from happening on future projects.
Tip 3: Keep Track of Bids vs. Actuals
It’s critical to keep track of bids vs. actuals—what you actually do vs. what you originally bid. By tracking this, you can get insight into how accurate your bids are and where you need to improve for future estimates.
Tip 4: Adjust Staffing in Real-Time
Staying informed about your skilled labor staffing levels and needs can help you avoid expensive delays. When you see you are falling behind on laborers and/or skilled trades, you can adjust your staffing levels in real-time using a construction staffing agency like Tradesmen International to ensure the project stays on time and on budget.
Tip 5: Utilize Daily Reports
If you’re using construction cost management software, you should be able to generate daily reports to help you understand and manage costs. These reports may include:
- Cost to complete reports
- Efficiency reports
- Hours lost reports
- Time cards
Learn More About Flexible Construction Staffing for Your Workforce
Solving your construction labor skills gap isn’t something you have to shoulder alone. Tradesmen International provides a proven CORE+Flex labor staffing strategy designed to help businesses access the proven, skilled craftsmen they need to get jobs done safely, on time and within budget. Let us help you get started with a no-cost labor productivity analysis. We help you define a logical core workforce level and determine precisely when to supplement that core skilled workforce with just-in-time craft professionals from Tradesmen.
Contact us today to devise a lean staffing strategy and request a free labor productivity analysis and consultation.