As you read this article, more than 90% of projects are running late, and more than 50% of those are over budget against the baseline. This problem can throw off the company’s long-term trajectory, and its capacity to turn a profit may be imperiled.
The ability to estimate a project and determine its financial success or failure relies on accurately recording the amount of time spent on individual tasks and activities. Because of this, staff can better gauge their output and refine their future estimates.
If a construction company isn’t keeping track of employee time, it’s basically flying blind, with no idea of what’s working and what isn’t. Therefore, time tracking becomes highly crucial.
In today’s article, we will discuss time tracking and understand the basics surrounding it. In case you too are short on time (ironically!) and are looking for a great time-tracking tool, you might want to check out Assignar.
Why do projects get delayed?
We have compiled a list of the typical reasons for project delays, although they are by no means the only ones.
1. Incorrect budgeting
The consequences of an inaccurate estimate for a building project can be severe. With accurate financial planning, some roles can be eliminated entirely, while others can be suspended for a few weeks or months. In order to guarantee there is always adequate money for supplies, labor, and other expenses, accurate estimations are essential.
After a project has begun, it’s crucial to have constant access to updates so you can monitor how the budget and timeline are shaping up.
2. Labor issues
Currently, labor is one of the main causes of building delays. Allocating a team effectively may make or break a project schedule. Moving quickly from one project to the next is inefficient and might lead to redundancies. Technology has made this a simple problem to solve by facilitating scheduling and time collection for field workers and assisting project managers in determining which teams are best suited to certain tasks.
3. Delayed approvals
There is a standstill in progress if everyone involved is waiting for a decision to be made. Whether in a managerial or supervisory role, you’ll be expected to make judgments that keep things moving forward on the projects you’re responsible for. Maintaining on-time (or even ahead-of-schedule) and under-budget building projects require swift communication and timely clearance of all necessary materials.
4. Mismanagement of subcontractors and compliance issues
On most jobs, general contractors coordinate the efforts of many different subcontractors. It is crucial to the success of a project that it is managed effectively in terms of its timeframes and schedules, compliance documents, and collaboration with other contractors.
In order to increase efficiency and output, it is important to provide clear expectations up front, encourage cooperation, keep them updated on the project’s progress, and assist them in streamlining their own processes via the use of technology and automation.
Every task on the construction site is at risk of being delayed if a subcontractor is overworked or doesn’t know the overall schedule. Alternatively, if a contractor is not in compliance with their bonding, license, or other contractual duty, it raises the project’s risks and makes it more open to legal challenges or disputes.
5. Improper communication
Keeping lines of communication open is crucial to ensuring the smooth progress of any project. Everyone involved in the project has to be kept up-to-date when new information, such as change orders, design changes, work progress, or job expenses, is made accessible. This includes those who are not directly involved in the project but who are still in contact with the owner or client.
If a disagreement does develop, the general contractor may rest assured that the teams have access to all the facts they need to settle the situation quickly and effectively.
What is a time tracking in construction?
Time monitoring is the process of keeping tabs on how much time is spent on a certain project or assignment. Your team members can quickly and simply add time entries to tasks and projects using the time-tracking features of your project management software.
This allows managers to examine and save time records for customers or stakeholders, evaluate the efficiency of their staff, and see how much work each team member is taking on. It’s useful for things like cost estimation, billing, and even simple efficiency audits.
Time tracking is especially crucial for businesses that have hourly workers or those that associate with outside partners and subcontractors.
How to track and optimize time?
The following suggestions will help you track time in your construction projects and optimize your overall project processes.
Determine the appropriate goals, keep tabs on their progress, and keep an eye on the changes taking place in real-time in order to identify challenges, problems that are often encountered, and potential roadblocks.
Have proper documentation
Adopt a method for alignment and maintain documentation; this will enable you to achieve correctly aligned business processes, an appropriate execution plan, and the delivery of equipment, while also ensuring that the scope of work, design, and procedure are all clearly defined.
Orient the members of the team, as well as the stakeholders, with the appropriate plan and toolbox discussions.
Maintain healthy relations with stakeholders
Take special care of the interactions with the customer and the supplier so that you can develop a solid connection.
Learn from the past
Develop a method to capture lessons learned; examining past events is essential in order to observe, evaluate, and draw conclusions in order to enhance existing procedures.
Create affinity toward the end goal
Throughout the life cycle of the project, measure the alignment of the team in order to achieve a single set of goals. You should make an effort to promote teamwork so that your team establishes shared objectives, trust, commitment, and responsibility.
Automate the job and make sure you have the required tools so that you can be certain of its excellent quality, consistency, and appropriate pace for the project.
The use of key performance indicators (KPIs), together with monitoring metrics and data, may help improve costs, schedules, and performance. Determine the best methods for your construction firm based on your requirements and your level of experience.
Tackle changes steadily
Develop a strategy for managing changes, and be sure you prepare for and account for them so your project doesn’t suffer.
A mastery of the capacity to handle challenging circumstances and conflict is essential in times of crisis.
Assess the risks
To mitigate the hazards of construction and increase the likelihood of completing the project without a hitch, you should conduct a risk assessment and draw up a risk management strategy.
The most valuable resource of any organization is its time, so tracking how that time is spent is highly crucial. Especially in the construction industry, it’s important to keep track of time to improve workflow, boost productivity, and build long-term business relationships. Modern construction management software programs make this possible in an incredibly easy way.
In the event that you are seeking a construction software solution, it is necessary to first assess your needs and then search the market for a solution accordingly.