Construction professionals know that proper construction time tracking is the key to success in any project. But many in the industry don’t seem to know how widespread the problem of lost time is.
And many have no idea how to fix it.
In 2017, approximately 61 percent of typical construction projects were shown to be behind schedule. Of those, half were over budget.
Unfortunately, while construction often leads the way in terms of utilizing new technology, there continues to be a disconnect with how to manage work. Isn’t tracking construction time just as important as using the best equipment to achieve efficiencies?
Here’s why you need to invest in time tracking software for construction:
Payroll and Construction Costs
The priority of time tracking on construction projects is aligning payroll against construction costs. Whether you are monitoring our own employees or a mix of subcontracted services, every moment needs to be accounted for.
And as there is a backlog of work and a competitive marketplace you can’t wait for payroll reconciliation to discover if there’s been a misstep.
While capital costs and equipment can be sizable, nothing spells disaster like losing control of hours spent.
Real-Time and All Levels of Management
Just as supervisors need to track hours and overtime, every level of your business must have access to time management. As executives forecast business performance and accounting aligns AP and AR against performance, everyone must have access to data now.
Leveraging cloud technology means driving efficiencies across all levels of your company. Safety officers can have the information they need for reporting and compliance just as inventory control can provide sites with the materials they need.
Delaying any step of the process means more than just a delay on the job site. It means unhealthy organizations, improper billing, and lags in the bid process.
Transitioning To the Next Job
Your foremen and workers need to pay attention to the smallest detail on the worksite. At the same time, management must take a holistic approach to the health of the company.
The completion of the job at hand is only one part of construction management. Management needs to know when the next job will start.
Using tine tracking integrated with forecasting they can plan for the future. The growth of your company can stall without the right amount of work to transition.
Construction time tracking allows for the right amount of work for your company to transition. And that work will commence at the right time.
The Competitive Bid Process
Time tracking tools take the guesswork out of the bidding. Your company’s biggest asset is about to become information.
With the right information on tasks, time, materials, and equipment you will have the art of bidding turned into a science.
By using your backlog of data, you can supply estimators with real information from your company on how long it takes to complete a task. Each project will be categorized and readily available for access.
How many times have you lost a project you bid too high because you didn’t know the costs? Or how often have you not factored in the right amount of time and seen money walk out the door?
Time tracking alleviates those issues with bidding.
Aligning Business Development and Operations
What business owner doesn’t want cooperation between sales and operations? How about both sales and operations working more effectively?
In too many construction firms there is tension between sales and operations. Sales makes promises that operations can’t keep.
Or, sales fails to understand the capabilities of operations and misses out on the best projects.
That tension ends with the right time tracking tools. Every member of your team will have access to the data they need to sell, manage, and create better opportunities for your company.
Creating Efficiencies with Construction Time Tracking
Without granular data for time tracking, how can you cut costs? It’s one thing to get back on track with timing and budget.
But it’s something else altogether to know exactly where you can save time and be more efficient. Without the information on tasks versus internal benchmarks, your foremen can’t adapt to challenges as they arise.
With the right software, they can create efficiencies and get work done faster and more efficiently.
How many delays are created when your heavy equipment isn’t in the right place at the right time? Whether you lease or own, that equipment can be put to good use elsewhere if it is just sitting still.
With time tracking you can have better information on when you will need your construction assets and for how long. As a result, you can move them to different sites as needed or lower leasing costs.
Better Management Across The Board
How do construction companies get better? The need for good data outweighs all requirements in today’s construction market.
You can have the best equipment and personnel, but still, you’ll miss if you can’t manage them properly.
Construction risks and delays must be dealt with in real-time to meet budget and forecasts. This means using key performance metrics and comparing them to benchmarks.
Unless you have information from similar projects, and historical data, you won’t be able to spot trends and rectify them immediately.
The sooner you invest in time tracking software that collects the data you need, the better your organization will become.
The Support You Need
For construction professionals to stay agile in the marketplace the best construction time tracking app is the only way to go. Rhumbix provides a T&M Tracking App that beats traditional methods every step of the way.
You’ll know your construction time tracking is accurate, easily accessible, and paperless. As a result, your team will have the competitive edge.
Rhumbix is dedicated to continuously improving the way the world is designed and constructed. We achieve these goals by giving workers the best tools.
As construction growth continues to exceed forecasts, you need the best support to thrive.
Don’t let the competition pass you by. Contact Rhumbix today for the best tools.