Managing Performance KPIs in Construction

Construction firms are embracing key performance indicators (KPIs) beyond traditional financial metrics to develop a keener understanding of their projects, trends, and margin-eroding issues. Unlike backward-looking revenue, profits, and cash metrics, KPIs focused on current operational performance — such as frequency of inspections, project quality, and rework cost — can deliver early warning signals and help firms develop forward-looking insights and proactive business decisions.But even the most brilliantly crafted KPIs tightly aligned to strategy will be worthless if leaders, managers, and field teams don’t know how to move them. Understanding why a business’ KPIs are lackluster and how the team can improve them can be challenging because data can be scarce — or there may be multiple sources of documentation, which makes it time-consuming to find and analyze the right data set.Visual data that digitizes job sites and preserves site reality over a construction project’s length can help teams identify issues, understand root causes, and resolve them. This eBook explains how visual data from drones and ground-based videos can provide the context and intelligence to help businesses understand why and how they can move the needle on their KPIs. In particular, we discuss how they can make an impact on some of the crucial operational KPIs highlighted by the CFMA, Autodesk, and other thought leaders as critical to success: bid development, project quality, rework, and productivity.