Performance Improvement: Construction
9-step checklist to increase profitability and simplify your business
Reactive construction site management vs. proactive management
You need the proper site management systems and processes in place to both reduce the resources spent responding to emergencies and enable your company’s success on the construction site.
Use a systemized approach to project management
Project management systems allow you to oversee multiple projects at a time — understanding the status and the risks of each one. Using a systemized approach, you’ll be able to better organize projects and priorities across your organization.
Track your operational metrics
The most efficient and well-run businesses are those with a clear picture of how they’re performing on a daily, weekly, and monthly basis. Leading indicators can alert you of issues and give you time to course-correct before they show up on your financial statements.
Strategic workforce planning
Strategic workforce planning reduces the dependency on skilled and aging labour and provides assurance resources will be ready to take on future projects, allowing you to remain competitive despite resource constraints.
Successful vertical integration
You want to optimize your business systems and processes to foster proper collaboration with all parties. But if your systems are not set up correctly, vertical integration can significantly increase costs and decrease bottom lines.
Leverage technology
Leverage enterprise resource planning (ERP), inventory, project
management, and other software to connect your company, automate repetitive tasks, and digitally enhance your operations.
Identify your roadblocks
Taking a thoughtful approach to strategic planning will ensure success and scalability, while also unlocking increased revenue and EBITDA.
Maximize revenue
You need to identify the most important areas, and then invest in improving your processes, systems, and behaviours of your staff. Significant revenue increases can be supported without losing bottom-line EBITDA and over-investing in human and machine capital.
Plan for the future
While it’s easy to get caught up in day-to-day operations, set aside time for management to discuss the big picture. Instill a continuous improvement mandate — hold weekly meetings addressing issues and assign champions to solve them permanently.
How MNP Can Help
Because of our practitioners who specialize in the industry, countless construction businesses throughout Canada rely on MNP to improve their operations permanently. Take our Performance Improvement Health Check to see how your organization measures up against industry best practices — and uncover opportunities to grow, improve your client experience, and increase profitability