Project-based businesses face a variety of challenges in driving profitable business. While these challenges are as diverse as the products and services offered, all strive for a common goal of delivering projects on time and under budget.
Read this important Aberdeen Group Analyst Insight and learn how best-in-class organizations are using construction project management software to improve project profitability and growth.
The Impact of Project Management Technology in the AEC Industry
In a recent in-depth Analyst Insight, Aberdeen found that the implementation of project scheduling, project costing and project management and reporting applications has a real and significant impact on the ability to deliver projects on time and within budget. For the AEC industry where projects are their business, on time and under budget equates to improved project and enterprise profitability.
In just the area of project performance, Aberdeen found that AEC companies that implement project management applications on an enterprise level are better equipped to keep projects on time and under budget.
83% were delivering projects early or on time
89% were delivered within budget
15% improvement in project profitability year over year
In the case of large, multi-million dollar projects even a 1% or 2% increase can have a very significant impact; a 5% advantage can translate into millions of dollars.