3 DOCUMENT CONTROL PRACTICES FOR COMPLEX PROJECTS
TO PROTECT PROFITS, LOOK TO UPDATED DOCUMENT CONTROL
In an unpredictable world, you can count on a capital construction project exceeding its schedule and budget. In fact, capital construction projects typically run 20% beyond their estimated timeline and 80% over budget.[1] Profits are on the line, and they’re already slim, averaging 2.4%[2] for general contractors in capital construction. Projects are only getting more complex, and external pressures are mounting too, as contractors deal with workforce shortages, supply chain challenges, and new delivery and contracting models. Without digital tools able to handle increasing complexity, contractors face an unwelcome choice: spend time and money managing software that’s not up to the task, or deal with margin-eroding rework and disputes.
When the success or failure of a project hinges on the right people having the right information at the right time – and it always does – document control plays a critical role. Any organization seriously pursuing project certainty and on-time completion has no choice but to examine its document control capabilities. The right approach to document control for your complex projects is the one that protects and even increases margins, and it requires three critical shifts in practice.
Capital construction projects typically run 20% beyond their estimated timeline
Capital construction projects typically run 80% over budget
BUSINESS IMPROVEMENTS TO EXPECT WITH GREAT DOCUMENT CONTROL
Great document control offers peace of mind, adaptability, and efficient workflows, and the business improvements extend even beyond those immediate improvements. By consolidating processes and communications into a single resource, organizations create a more consistent and scalable operating model. When contributors aren’t trapped digging through email threads and folder structures to confirm information, they’re free to move the build forward.