Project Lifecycle Management & Construction
When it comes to the construction industry, every project is crucial. The inability to keep up the pace and performance could lead to downtime.
Since the profit margin for construction projects is critical, it becomes necessary to ensure that the entire project is delivered on time with control over accurate estimates, change orders, maintaining the availability of resources, and more.
In other words, the need to keep up with the project milestones in construction makes it necessary to define and adhere to the project lifecycle goals. Inheriting its capabilities from Dynamics 365 Business Central, ProjectPro helps project managers, office staff, and site workforce keep aligned with the predefined goals.
Designed with precision, it is made to accommodate all the necessary tools that contractors need to manage construction projects from start to finish. But before we dig into more detail about how ProjectPro helps construction firms meet their goals as per the defined project lifecycle, it is necessary to understand the basics of Project Lifecycle.
Understanding the Concept of Project Lifecycle Management
Just like any other industry, the project lifecycle can be defined as the identifiable phases of a project, which include initiation, maturity, and completion.
However, the real-world implementation of the concept of Project Lifecycle involves five different phases: defining requirements, planning, execution, monitoring, and closing. The Initiation and Planning stage of the project lifecycle is meant to define the feasibility of the project while others are meant to control development and successful completion.
Though it can be understood as an overlapping of the phases, the achievement of the goals associated with one phase establishes the base for the achievement of objectives for the next level of the project. Also, successful project lifecycle management not only helps to ensure timely deliveries but adds to business value, driving sales and reputation.
Since the modern-day construction heavily relies on the technology, let us dig down deeper to learn how ProjectPro can help lead progressive construction and meet the project lifecycle goals.
How ProjectPro could help achieve the project lifecycle goals?
ProjectPro is an advanced construction accounting software based on the most refined Microsoft Dynamics 365 Business Central platform. With years of experience serving the diverse construction contractors in the industry, ProjectPro has upgraded with time to meet the unique requirements and challenges. The combination of some past and familiar tools with intelligent features like Power BI and office 365 makes it a suitable solution for advanced construction accounting needs along with Project Management, ERP, and CRM features. With a 360 approach, ProjectPro makes a perfect fit for the contractors who need to stay aligned with Project lifecycle goals.
ProjectPro Role Center/Dashboard
ProjectPro Job Quoting Module
The initiation phase of construction project management involves mapping of requirements followed by the bidding of job proposals, planning job quotes, defining estimates, and scheduling of the project to meet the deliverables.
Estimation: ProjectPro with its construction accounting and project management capabilities can help the contractors define the estimated cost and time of completion, irrespective of the project size. To ensure preciseness with estimates, it uses the predefined bid proposals and job quotes which helps improve accuracy and saves time, not only with the creation of estimates, but also being able to share those estimates with customers.
Job Planning: With ProjectPro, you can always have access to the essential project data that is vital for job planning. With its easy to explore interface and user dashboard, project managers can easily work on the task of job planning based on project milestones.
Scheduling: Scheduling is one of the most critical components behind the success of construction projects and ProjectPro lets you schedule the jobs as per the estimated time required for completion of the project. Since users can easily keep a check on schedule, project managers can access the schedule at any time to know the project progress and fasten the flow of activities to avoid skipping timely deliveries.
Resource Planning: Being an ERP accounting software, ProjectPro drives convenience with the management of financial, labor, and material resources. It lets you track the actual availability of resources and materials to ensure purchase orders are placed before inventory stock outs. Contractors using ProjectPro do not need to worry about the materials, while utilizing automated purchase suggestion feature in ProjectPro. This gives you enough time to focus on business expansion while securing new projects.
Subcontract Management: ProjectPro uses the competence and agility of Dynamics 365 Business Central making it a professional tool for subcontract management. It allows the management of multiple subcontracts at the same time with direct access features to track subcontract entries. This decreases the time that project managers spend on searching through piles of paperwork or system documents in order to define changes with items, labor, or equipment for any unexpected change order requirements.
ProjectPro Subcontract Status Report by Job Upcoming Activities: Since it is project management software, it helps to improve the project planning for upcoming activities related to the job schedule or change orders. Also, to avoid any loss of revenue for contractors, the software always keeps a record of resource hours for preciseness with billings, invoices, and payroll.
Job & Service Scheduler: The execution phase starts with the scheduling of jobs and services to achieve the pre-defined project milestones. ProjectPro lets its users utilize job quoting and job procurement data to ensure that all the activities for projects are completed within the estimated time frame.
Project Management: ProjectPro allows users to take complete control over finances, material, and project activities. It lets you follow the plans and execute them in a budget-friendly manner. Also, the work breakdown structure defines job task codes and assigns job cost categories for each task and activity specifically.
ProjectPro Job Forecast Worksheet
Change Orders: One of the key reasons our clients prefer to work on ProjectPro is the ease of managing change orders. It allows the generation of automated change orders from the master job card. The best part is it even lines all bid items, pay items, schedule of values, and other information related to change orders that affect progress billings.
ProjectPro Change Order Job Card
When it comes to measuring the success of the contractor, project closure within the defined estimate and budget will ensure success.
Performance Indicators: With ProjectPro, contractors and project managers can easily work on taking business opportunities. Since it is Construction Project Management and CRM software, defining and achieving the key performance indicators becomes easy with ProjectPro. The job progress reports, timely billings and invoice processing helps to identify the scope of effective management for ongoing and upcoming projects.
Payroll Integration: Retaining cash flow is a key indicator of success with construction companies. The greater the ability of the contractor to retain cash flow, the more financial stability the contractor will have to take on more opportunities. ProjectPro brings the best in class experience when it comes to integration of payroll softwares. It allows users to integrate third-party payment solutions such as ADP, Paychex, etc. in order to keep the information synced with accounting data.
Project Billing & Payables: Finally, ProjectPro at its full potential can help contractors with rapid work order monitoring to track expenses and create billings. One thing that makes it suitable for private and public projects is the progress billing module. Also, the advanced billing options such as AIA billings, Unit Billings, Time & Material Billings ensures accuracy and flexibility for all of the contractor’s and customer’s needs.
AIA G702 AIA G703 Continuation Sheet
Concluding It All…
Over the years, the construction industry has grown, adding to the market and global GDP. However, the rising competition and demand have made it much more difficult for the contractors to align with the Project lifecycle goals.
Thus, the need to counter the constantly thinning margin of revenue and profit for contractors, ProjectPro brings the essential preciseness needed to overcome construction management related to challenges.
With the extensive capabilities of Microsoft Dynamics 365 Business Central, ProjectPro is designed to meet all phases of the project lifecycle from initiation to closure making it all in one solution for the construction companies of all sizes.
Still curious to know what makes ProjectPro a suitable option for your construction business? It is always better to discuss certain things in direct conversations.