At the cuttingedge of technology, Integrated Construction Project Management softwareprovides contractors with an incredibly diverse and effective tool box thatthey could only think of as pipe dreams in the past.
One of the bestways to distinguish between the software offerings in the market is to considertheir capability in providing truly integrated end to end Construction ProjectManagement. This might include suchfunctions as variations and change order management, flagging of exceptionconditions, up to the minute business intelligence with reports and data,modification capabilities for both prime and sub contracts, identifying budgetconcerns (over and under budget) by examining actual costs and predicted costsand so much more.
This article,however, is not about the software itself and which one to purchase but who isgoing to benefit from it and should you be implementing it into yourconstruction business.
In consideringhow these functions would benefit the various stakeholders, we should thinkholistically and beyond our own teams and departments. So, who will reap the benefits offered byConstruction Project Management Software?
The Project Owner (or his representative if a 3rd partyhas been employed to oversee the project)
This is usuallythe entity who has financed or sponsored the project. The big picture information, crucial to thisstakeholder, will be related to the progress and budget of the party whosponsors/finances the project. This person wants to know the real-time andoverall costs, versus the scheduled budget. Construction software is renowned for its accuracy, complete and up todate reporting, which will give great confidence and comfort to the owner asopposed to bespoke spreadsheets or autonomous reports. Knowing that the updates being received aregenerated by a reliable end to end function of integrated software, that takesinto account all elements of the project deliverables and finances, ensures theowner receives the true and unadulterated truth.
A General Contractor
The general ormain contractor, appointed as the primary contractor with the responsibility for theoverall project management, will be accountable to the owner for deliveringthe project on time and on budget. Thegeneral contractor usually employs specialist sub-contractors to completecertain specialised trades or elements of the contract. The benefit of the integrated reports to the owner has been coveredabove, but the same information is critical for the General Contractorhimself. Spotting potential issues earlyand making the right and timely adjustments will assist them to stay on track. Theability to track and manage the sub-contract bids; progress; valuations andpayments; record daily transactions between the Principle Contractor andsub-contractor and assist in highlighting possible constraints between theparties and timeous completion of the works is one of the many elements thatearly adopters of this system rave about.
Having won thebid and been appointed to carry out the defined scope of work, access to thereporting and operational elements of the integrated system vastly simplifiestheir responsibilities over and above the physical work itself. Many of the payment triggers will be basedupon measured works or milestones which the integrated system will monitor and prompt to ensurenot only is the work completed smoothly but all invoices, receipt andcertificates required are also processed without any timely delays.
What About a Bank or Finance Company
In much the sameway as an owner, if a bank or financial institution is financing a project,they want to be sure their investment is safe and sound. Many financial arrangements of this type willalso have a phased release of funds that will be triggered by measured works or milestones. As with reporting to anowner, the integrated true and accurate data and reports generated byConstruction Management Software is infinitely more reliable than ad hocproject updates. Various levels of access or information reporting can beagreed and set up from the outset or adapted on the go. This can be a key selling point during thenegotiation phases in securing financial support from premium institutions, as thisgreatly assists with their initial and ongoing due diligence.
The capabilities and effectiveness of Construction Project ManagementSoftware has evolved massively in a short period of time and the mostreputable and trusted providers continue to upgrade and enhance their product offerings to stay abreast of and in many cases lead the market requirements. Inthis fast-paced, demanding industry, choosing the right software can be vitalin winning and managing projects. Even in this short article, thebenefit can clearly be seen. It can even impact a wider audience in termsof financiers and investors concerned with getting new projects off the ground.
The question perhaps should not be who needs it but how soon can you getit implemented and “how to choose the right software provider for you?”
You may also be interested in learning what are the “Five steps to implementing Construction Software“