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The construction industry is notorious for complex projects that often face challenges in terms of scheduling, budgeting, and overall progress. To ensure successful project delivery, it is essential for contractors and project managers to effectively track and manage the work in place—the work that’s been completed within a specified timeframe. Work-in-place tracking provides real-time visibility into the progress of construction projects to facilitate proactive decision-making and ensure project profitability. In this article, we will discuss the importance of work-in-place tracking, the challenges it poses, and best practices for optimizing construction progress management.
What Is Work-in-Place Tracking?
Work-in-place tracking, also known as construction progress tracking, involves monitoring and assessing the actual progress of a construction project. It provides insights into the project's financial health, including whether it is on budget, over-billed, or under-billed relative to the project timeline. By tracking the work in place, contractors and project managers can identify red flags early on and take corrective action to avoid profit fade and budget overruns.
A comprehensive work-in-place report encompasses various aspects of the project, such as
- Total price stated in the contract
- Estimated costs
- Remaining profit
- Costs incurred to date
- Percent of project completed
- Billed revenue
- Paid revenue
- Over/under billings
- Project backlog
By compiling data across departments, both in the field and the office, contractors gain a holistic view of their projects, allowing for more efficient decision-making.
Computer Vision Takeoff with Work-in-Place Tracking
Takeoff, the process of determining the total cost of materials, labor, and equipment needed for a construction project, has historically been a tedious and time-consuming manual process. Technological advances such as AI and machine learning, however, have streamlined this task, making it easier and more accurate than ever. Combined with real-time work-in-place tracking, computer vision takeoff enables contractors to provide accurate estimates and bids and then seamlessly track construction progress in the field for end-to-end visibility into project costs.
BuzzBID Complete Takeoff Solution
BuzzBID incorporates leading computer vision technologies for a complete and affordable takeoff and pricing solution. BuzzBID's advanced features allow contractors to seamlessly mark each construction project’s progression, providing immediate, real-time visibility to estimators and project managers in the office. With BuzzBID, contractors can track labor productivity, manage project timelines, and protect profit margins effectively. The integration of computer vision takeoff, detailed estimating, and work-in-place tracking makes BuzzBID a comprehensive solution for optimizing construction progress management.
Increase Efficiency & Protect Profit Margins
Work-in-place tracking plays a vital role in ensuring the success of construction projects. By accurately monitoring the progress of each project, contractors and project managers can make informed decisions, maintain profitability, and deliver projects on time and within budget. Embracing modern construction management software and leveraging advanced features like BuzzBID can streamline work-in-place tracking and enhance overall project efficiency. With real-time data and proactive progress management, contractors can overcome challenges and achieve optimal results in their construction projects.
