Mar 26, 2020
Cutting costs is looked at with feelings of doubt, anxiety, and uncertainty, especially during these hard-economic times. But, if your company is to survive, you must remain on schedule to save costs. According to research, nine out of ten constructions lags, but with these tips, you can be the 10 percent that remains on schedule.
Every department has an idea of how they will remain on schedule, but during the planning stage, every project manager needs to be present. You may not be an engineer, and you may not understand all the technical terms, but you have insight on what's doable and what's not possible. Remember, it's your project. You should have details of every phase of planning because this is how you will spot opportunities to save money. Also, poor planning is a sure way to have cost overruns.
Have a detailed plan from each department and know which task needs to be complete by when and who is responsible for making it happen. Ensure you meet with the team leaders frequently to go over reports and see who is lagging and why. Every time someone lags, you lose money. Also, meetings will help you brainstorm ideas you can use to keep everyone on track and the project on course.
- Monitor your data closely
Unlike the 1990s, technology has made data available. You can track every imaginable metric on your site, such as materials, equipment, individual workers, and productivity. Data will help you identify areas that are draining your finances when they shouldn't. For instance, if you need to keep ordering fuel, it will cost you more than ordering in bulk. Buy fuel and lubricants from companies such as beesleyfuels.co.uk because of their nationwide reach and capacity to deliver in bulk. This will save you time in between fuel delivery and keep you on schedule.
Have you been in the construction industry for a while? You probably know that building materials tend to cost higher at certain times of the year, depending on the type of construction material. If you have been keen, you already know when certain materials will cost their lowest. Most likely, you have projects that need such materials coming up, so consider stocking up when prices are low.
- Avoid reworks
Reworks are the primary contributors to stalling projects in the construction industry. Reworks make you lose money, time, causes delays in schedules, late deliveries, and increases the chances of your workers getting hurt. To prevent reworks, hire the right contractors and service providers. Experienced professionals will notice if something is wrong and even foresee challenges so you can mitigate them before they happen. Correct mistakes before or immediately after they occur, sometimes even virtually, and include owners and stakeholders in the planning stages.
It's possible to keep your construction on schedule, and when you do, it saves you time and money and helps build an excellent reputation for your company.