6 Steps to Deliver Projects On Time and On Budget
Is your AEC company keeping pace with the competition and are your employees performing as efficiently as they could?
By starting with efficient project and resource management processes, you will be able to deliver your projects on time and on budget. AEC companies that master exceptional project delivery will find that success leads to better retention and development of talent, increased profitability, and a faster trajectory to scale for future growth.
6 Steps to Deliver Projects On Time and On Budget
Before you kick off any new work, review your internal project and resource management processes. Regular timekeeping will help you establish an accurate view into how long your team is spending on various projects and tasks. Review the calendar weekly for any potential staffing conflicts to ensure all your projects are properly resourced. Project managers should at minimum provide monthly reports on progress and completion status of projects. Whether you invoice clients monthly or as work is completed, invoicing must happen on a consistent schedule to improve cash flow.
2. Confirm a precise scope of work
A critical component of any project’s success is a clearly defined scope of work. The more you can get the client to specify their exact needs and expectations, the fewer surprises will come your way as the project progresses. In addition to a signed Statement of Work, consider establishing a process to help avoid scope creep.
领英推荐
3. Set your project budget
Once you’ve built your project and resource management foundation, you should have a clearer picture of your true costs, which can help you develop better pricing. With a more accurate price quote and cost estimate in hand, your project manager can create a more realistic budget to measure project progress.
4. Establish the right project team
Take time before the project begins to staff
the project with the right people for the job. Determining the decision makers and team leads ahead of time will help you to select the best team with the appropriate skill set, ultimately saving you time down the road.
5. Kick off the project and get everybody aligned
The Statement of Work is signed, the budget is set, but the project kick off will be the first chance for your client to really see how you execute work. Establish deliverables and a clear timeline so everyone starts with aligned expectations. Make sure the right people are in the room for each phase of the project kick off.
6. Follow up with progress management
Once the project is underway, progress management should become a top priority. Manage progress through regular meetings and provide clear assignments to the team. Establish formal progress reporting that is regularly communicated and provides the project status visibility to the client.