Maximizing Project Value With Construction Management Platforms

By Author: iFieldSmart Technologies
Total Articles: 178
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A report by Construction Executive found that the top benefits of using construction management software are improved project scheduling (62%), improved collaboration and communication (56%), and improved project documentation and reporting (44%).
They must coordinate with multiple parties, track progress, manage budgets, and mitigate risks to ensure project success. In recent years, construction management platforms (CMPs) have emerged as powerful tool that can help GCs streamline their operations and maximize project value. In this article, we will explore the benefits of CMPs and how they can support GCs in achieving their goals.
The construction industry is expected to grow at a CAGR of 4.9% from 2021 to 2026, according to a report by Mordor Intelligence.

What are the challenges for general contractors on the field?
General contractors (GCs) face numerous challenges when working on construction sites. These challenges can vary depending on the project scope, site conditions, and the specific requirements of the project. Here are some of the common challenges that GCs face on the field:
1. Managing ...
... subcontractors: GCs must work with multiple subcontractors to complete various aspects of the project. Managing these subcontractors can be challenging, as they may have different schedules, skill levels, and work styles. GCs must ensure that subcontractors work efficiently and safely, meet quality standards, and comply with project schedules.
2. Ensuring safety: Construction sites are inherently dangerous, and accidents can happen quickly. GCs must implement robust safety protocols and ensure that all workers follow them to avoid injuries and fatalities. GCs must also stay up to date with the latest safety regulations and ensure that all workers are trained on these regulations.
3. Handling site logistics: Construction sites can be chaotic and unpredictable, with multiple activities happening simultaneously. GCs must manage site logistics, including traffic flow, material storage, and equipment movement. Failure to manage site logistics can result in delays, accidents, and cost overruns.
The use of Building Information Modeling (BIM) is increasing, with a survey by Autodesk finding that 73% of contractors use BIM on at least some of their projects.
4. Dealing with weather and environmental conditions: Construction sites are exposed to various environmental conditions, such as rain, wind, and extreme temperatures. GCs must plan for these conditions and take measures to protect workers and equipment. Adverse weather conditions can also cause delays and impact project schedules.
5. Managing project timelines: Construction projects are often time-sensitive, with strict deadlines to meet. GCs must manage project timelines effectively to ensure that the project is completed on schedule. Delays can impact project budgets and result in lost revenue.
6. Managing budgets and resources: GCs must manage project budgets and resources effectively to ensure that the project is completed within the allocated budget. GCs must also ensure that the project is adequately staffed, and resources are used efficiently.
A survey by Software Advice found that 98% of construction professionals believe that software improves project visibility and transparency, while 95% believe that it helps with budgeting and cost control.
7. Dealing with regulatory compliance: Construction projects are subject to various regulatory requirements and permits. GCs must ensure that the project complies with these regulations, obtain necessary permits, and undergo inspections. Failure to comply with regulatory requirements can result in fines, penalties, and project delays.

Conclusion
In conclusion, construction management platforms offer numerous benefits that can help GCs maximize project value. These platforms enable effective communication and collaboration, project cost and budget management, project efficiency, and quality improvement, and project risk mitigation. By leveraging these tools, GCs can streamline their operations, make data-driven decisions, and achieve their project goals.