Understanding and knowing your costs is arguably the most important information you need on a job to manage the work and ensure a positive outcome. Identifying potential cost overruns and getting ahead of issues will ensure you are prepared if the unexpected occurs, as it often does.

The project cost summary report provides detailed analytics by cost code so you can understand where your money is being spent and where you might have a potential problem. A common issue is not having summary-level information detailed enough to make the necessary changes to get the project back on track. For example, perhaps recent hurricanes have had an impact on budgets. It would therefore be important to identify where there might be an opportunity to make that money back. This report provides period metrics, along with to-date metrics so you can compare to your budget and forecast.

Productivity is the measure of how much you accomplished compared to what you spent — which means you need to deliver more than you spend if you want to beat your budget and stay on schedule. As an industry, it is estimated that productivity has averaged only 1% growth per year over the last 20 years — which means more money is being spent than output delivered across the entire industry, leaving approximately US$1.6 trillion on the table.²

Consider this scenario: Your crew shows up for the day, only to discover they don’t have what they need to accomplish the day’s plan. You still have to pay for the crew’s time and you are now behind schedule because you have spent money without completing the planned work.

Having access to your productivity rates and being able to compare them to other projects allows you to stay on budget. Earlier identification of productivity issues is key to keeping your project on track, and that starts with tracking and measuring productivity analytics to understand where you have successes and issues. The project productivity report provides this information for you — and allows you to see where you might need more planning, assessing, or optimization. It also challenges your teams to go beyond projects with good productivity rates, achieving even better outcomes in the future.