5 Ways to Waste Time and Reduce ROI in Construction
February 8, 2016
Don’t feel as though you are getting work done at a job site?
Construction projects require a multi-faceted group of people, equipment, and technology to complete each project. A well thought out plan is required to make sure the project goes off without a mistake, without a delay, and the better you plan, or the more efficient you are, the higher your ROI will be on each project. At the end of the day, your profitability depends on successful project management.
One important way project management improves your profit is by reducing the amount of time wasted at the job site. Each delay or each moment that you have to spend searching for a document is cutting into your profit.
If you ever have the feeling that time is wasted on your project well research indicates that 50% of construction time is wasted1
So if you want to stop wasting time and you are interested in knowing how to increase your profit on every job, here are 5 ways time is wasted during projects. If you want to know the solution, we have included a time-saving tool which will make your construction company more efficient.
Accounts for roughly 23% of wasted time on a construction project1. What causes waiting? Subcontractors often have to wait for materials, inspections, permits, and a slew of other misc. items before they can start, or continue with their work.
Faulty Work by Others
This is pretty straightforward. We all understand it. The shoddy work of one trade will affect the following trade. A small mistake will require larger adjustments as the project progresses. Without re-work, crews have to work on top of the mistake, slowing down progress of the project.
If you have to fix the mistake, this re-work will cost your project valuable time, and money. Follow up trades will have to be re-scheduled. Your project may need more time, and you will be behind schedule.
Accidents can generally be prevented, by ensuring that the right safety measures are followed, equipment is properly located, and the right environment is created so that trades can focus on their work.
Prior to a trade arriving you know that they need certain materials, tools, personnel, and instructions to even start their task. “Making do” is a common problem that occurs when a trade begins work when they are missing one or more of these things. While everyone loves a “Get er’ done” attitude it’s frustrating if it wasn’t “done” right without instructions.
How can these 5 time wasters be prevented? Simple. Project Management software such as CMFusion helps facilitate the construction process from A to Z, eliminating wait time on the job site, helping your subcontractors know when they can start on their work while keeping everything organized.
CMfusion accomplishes this using intuitive Document Management, Field Reports, Mobile Collaboration, Project Logs and Project Calendars.
The software is also free.
1. Kalsaas, Bo Terje. Work-Time Waste In Construction. International Group for Lean Construction, 16, July 2010. Web. 05 Jan. 2016. <http://prosjekt.uia.no/uwc/wp-content/uploads/2011/11/Kalsaas-B.-T.-2010.-Work-Time-waste-in-construction.-In-Walsh-K.-and-Alves-T.-Red.-Challenging-Lean-Construction-Thinking-Proceedings-IGLC18..pdf>