Running a construction company is no small feat. There are a million things to think about and keep track of on any given day. To help you stay on top of things, we’ve put together a list of the most important metrics to track when running a construction company. There are also a plethora of useful guides available online for construction kpis.
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1. Project Profitability
Ensuring that your projects are profitable is obviously crucial to the success of your business. To track project profitability, you need to track the revenue and costs associated with each project. These metrics will help you understand where you’re making money and where you’re losing money, so you can make changes accordingly.
2. Schedule Adherence
Staying on schedule is important for both ensuring customer satisfaction and avoiding costly delays. To track schedule adherence, compare the actual completion date of each task to the estimated completion date. This helps identify any areas where your team is falling behind and allow changes to be made to avoid delays in the future.
3. Productivity
Tracking productivity will help ensure that your team is working efficiently and not wasting time. There are a number of ways to track productivity, but one way is to track the number of completed tasks per person per day. This will offer a good indication of how productive your team is and whether or not they are completing their work in a timely manner.
4. Materials Usage
Keeping track of material usage is important because it will help keep costs under control and avoid waste. To track material usage, simply keep track of the number of materials used on each project. This will help ensure that your team is using materials efficiently and not wasting anything.
5. Safety Incidents
Ensuring that your job sites are safe is obviously crucial to the success of your business. To track safety incidents, simply keep a record of any accidents or injuries that occur on job sites. Identifying any potential safety hazards will allow you to take steps to mitigate them in the future.
Tracking these metrics is essential for any construction company that wants to be successful. By tracking these metrics, you’ll be able to make data-driven decisions that will improve the efficiency of your business and ultimately lead to more success.
