There are a lot of moving parts to your residential construction business. From the office to the field staff and trade partners, any one project requires a high level of coordination. For businesses that struggle with identifying their inefficiencies and who have aspirations of growth, the thought of managing more projects than you currently have can be daunting. When it comes to growth, money is made in the margins. This is why it’s crucial to streamline your processes and make your residential construction business as efficient as possible. To help give home builders and remodelers a 10,000-foot view of their business CoConstruct has launched Performance View™, a new feature dedicated to helping businesses measure the metrics that matter to their business to fuel growth.
Here’s how Performance View™ works
Performance View™ bubbles up high-level metrics from individual projects including financials, operations, and client engagement metrics, in one easy-to-reference dashboard. By creating a dashboard view of critical project metrics, you can easily see where problems exist and therefore what needs your attention. But in addition to putting out fires, what this view unlocks for business owners is the ability to proactively move your business forward. Once you know where your business stands on your key metrics such as projected profitability, client communication, and schedule timelines, you can set and work towards meeting new goals. You have to know where you are to make your path going forward.
Here are some ways Performance View™ can help you level up different aspects of your business:
Keep your project schedules on track
Being able to easily update your construction schedules and automatically send the latest information to required participants is a powerful tool to make your business more efficient. The next evolution in leveling up your scheduling comes when you can see how accurate your schedules are in the first place. To help with this process, Performance View™ allows you to see at a glance how your project schedules in flight are performing compared to their baseline schedules. This view lets you see when there is a deviation between a projected and an actual schedule timeline to be able to intervene where appropriate. This view also allows you on a higher level to see how all projects are fairing. For instance, if all your active projects are consistently behind your baseline schedule, you know that you need to adjust your schedules going forward to account for delays that you are currently not accounting for. Additionally, this view can help you gauge your team’s overall bandwidth to help when scheduling out start dates for new or upcoming projects to ensure schedules start off on the right foot.
Another great way to keep your schedules on track to ensure they are regularly updated by your team members out in the field. The schedule updates widget in Performance View™ allows you to see how often and when in the last week your schedules across projects have been updated. With this view, you can quickly see which projects you may need to check in on or which team members you need to remind to update their schedules.
Capture all costs via change orders
When juggling multiple projects, it’s easy to prioritize keeping your projects moving forward at the expense of smaller details. For instance, you might make sure you pass the details of selection upgrades along to your team members while forgetting to get the overages onto a change order. When multiple overages start to pile up the pending conversation with your client becomes more and more difficult, leaving some to just eat the costs altogether. Keep yourself out of this position by always knowing what you are owed across projects. Performance View™ shows you the dollar amount in each project of selections that are not on a signed change order to alert you just how much and where you are leaving money on the table.
Get selections made on time, every time
Selections are the backbone of custom residential construction projects but late decisions can have dire consequences to the financials and timeline of a project. To help give you a spotlight on your selections process, Performance View™ helps you monitor the progress of selection choices on your active projects. This allows you to see whether individual project selections are chosen, overdue, upcoming, or not yet decided. Overarchingly you can also see what percentage of your selections across projects are overdue. This information gives you the granularity to know which projects need your immediate attention and also how your selections process is trending.
Make sure your clients are engaged
An engaged client is a happy client and a happy client is more likely to deliver that coveted referral to help you land your next job. Unfortunately, it’s hard to keep track of how engaged your clients are on any one project, let alone across projects. To help give you a birds-eye view of your clients’ involvement, Performance View™ shows you what percentages of clients have interacted with CoConstruct and communicated with you in the last week. This snapshot can give you a sense of how recent your clients have checked in on their project and where, if anywhere, you need to reengage them to increase project participation.
Growing your business is hard. It requires having the right people, the right systems, and the right information to know where you need to go. CoConstruct’s Performance View™ helps your residential construction business see key metrics at a glance to gauge overall company performance and align your business with your goals.
Interested in adding Performance View™ to your account? Reach out to CoConstruct’s support team for more information.