By adopting certain processes for project management, firms can improve performance, reduce risk and minimize downstream problems. Don’t take my word for it. Autodesk commissioned a study by Dodge Data & Analytics in 2019 to survey over 200 US-based contractors about benchmarking and construction management. The study findings are described in the Autodesk BIM 360 Newsletter article “7 KPIs for Construction to Maximize Project Performance.”
The 7 key performance indicators of construction that floated to the top in the DD&A survey are explained in the DD&A report, “Optimize Your KPIs With Construction Software.” According to the report, following are the KPIs that companies should be capturing and measuring:
- Problems discovered in construction documents. Keeping track of errors, omissions and constructability issues and comparing these to past projects is a way to mitigate risk on future projects.
- Logging RFIs and responses. Tracking historical data on RFIs helps firms ferret out communication problems among teams and address those issues on future projects.
- Documenting change orders. Determining errors and constructability issues in the construction bid set could help contractors identify potential risks earlier in the project. This would reduce RFIs and change orders later on and cause less disruption in productivity and the schedule.
- Updating the project schedule. Faster reaction time to adjusting the project schedule can save on wasted materials and rework. Looking back at historical RFIs and response times could help identify trends and patterns to avoid on upcoming projects.
- Software used for safety and inspections. Most general contractors and trades are in agreement that using software to manage safety and/or inspections is valuable on a project. Improving safety goes far beyond the current project, because a company’s Experience Modifier Rate (EMR), which is based on workers comp claim history, affects insurance premiums (and the company’s overhead) far into the future.
- Labor productivity. Better communication among project stakeholders is crucial to improved productivity on a project. People across the organization must be connected to the information they need to make the job proceed on schedule.
- Quality and closeout. Using the right software, close-out activities, including the punchlist, can be managed so repairs and adjustments are made as the project proceeds, rather than waiting until the end. The DD&A report referred to this as “punchlist-as-you-go.”
Although only about half of the companies who participated in the study were tracking these KPIs – mostly due to time restrictions, not difficulty – the ones that perform tracking confirmed they have seen improvements in project performance because of it. The report summarized how respondents are capturing project information and, if they’re not, why they’re not. The report also explains the industry benchmarks that construction firms can use to examine their own operations. Using those benchmarks, firms can look for things that can be improved and set company standards accordingly.
One software family that thousands of firms find useful for determining and tracking KPIs is Autodesk BIM 360. If you’re interested in finding out how the BIM 360 products, including BIM 360 Coordinate, BIM 360 Docs and BIM 360 Build, can benefit your firm, contact Applied Software today for a quick discovery call. Applied can also introduce you to 360 SyncTM, which automates the file transfer process and enables users to automatically update BIM 360 libraries. For more about how 360 Sync works, see “The Age of Collaboration” by Michael Reuter. Like Michael, the experts at Applied know your industry, and they’re ready to champion your firm’s innovation to improve your company performance.