Digitization of the Construction Industry

Article Objectives:

• Excel is an Outdated Tools

• Project Management Software

• Software saves time and improves analytics

Excel® is commonly used as it is easy to use and capable data analytics. For example, if you needed to measure quantities of labour cost incurred, or material received, you can just about anything. However, you cannot get labour productivity, material reconciliations, work performed and much more in real-time. Excel is capable to create files complex enough to compile construction measurement sheets, running- account bills, and much more on any given size projects. It is also the de-facto tool for many organizations for additional functions such as accounting, procurement, and timekeeping. However, the files become multi-megabyte monstrosities, often exceeding the capacity of computers used by small organizations. Also, sending the file to someone is a challenge. Plus, the sheets are so intricate and complicated that there’s usually just one person in the whole organization who can interpret the information. Besides this, it takes time to get information out of those files in a format that’s meaningful and understandable to project managers, consultants or clients. It takes a long time to create a monthly cost report. ProCost helps collect site data and split out data, in a meaningful way in a second. A huge amount of time is spent on collecting data and analyzing intelligently. With Excel, more than 60 per cent of their time is taken up with low-value, manual-labour tasks like file extracts, duplicate data entry, and compiling reports. ProCost helps perform all this low-value-work Even if your site engineers, billing engineers, store reporters, and other project team members spend half that much time on low-value work, it’s costing your organization a lot of money. Efficiency aside, all the manual interaction with the data – populating spreadsheets, copying a formula, combining information from multiple sources – also leaves a lot of room for error. Studies shows, more than 90% of spreadsheet have formula errors. Few advantages of software over Excel are:

1. Dashboards: Project managers can see the progress of projects, actual things happening within projects, and items important to manage projects in one glance.

2. Chart & Graphs: “A Picture is Thousand Words”. The project team can quickly generate charts and graphs to help you answer the questions confidently about efficiency, productivity and delays.

3. Information Security: Relevant data can be accessed by security settings. Material management, labour losses due to overbilling, and other losses on a typical project can be minimized.

4. Collaboration: Currently, communication between team members is via multiple platforms (email, WhatsApp, phone). There is no way to track actual discussions. Having all collaboration centralized in a project performance hub facilitates, tracks, and documents communication.

All that time that could have been better spent on actual project management and improving project cost and schedule efficiency. Use ProCost software to maximize profits on all your Projects. Use one platform for all your construction project management needs.