Saturday, July 7, 2018

Why More Real Estate Developers Are Taking Interest In Consolidated Management Platforms

By Henry McDonald


Over the last couple of years, it has become increasingly important to replace fragmented software solutions with integrated platforms. This comes as more Denver Highland real estate development firms wake up to the realization that no business process takes place in isolation. It's for this reason that most of them are now expanding their investment into specialized project management applications.

If you're still using generic apps, chances are that you're finding it difficult to justify the cost of switching to a bespoke solution. It's worth pointing out that the former are built to appeal to a wide range of needs, but not the unique challenges your business faces. More noteworthy is the fact that a specialized platform won't just address these -- there's also a number of benefits it could bring your way:

More Control Over Your Data: Data has become such a huge part of the construction process that, without proper management, a firm can quickly come tumbling down to its knees. It should thus come as a relief to learn that project platforms have features designed to minimize this risk. Such include the consolidated database which ensures that all documents are stored in one location. This is further enhanced by the automated retrieval tools.

Communication and Collaboration: There's an argument to be made that this combination is what keeps an ongoing project from sliding into chaos. On that note, a construction management platform can turn what was once a tedious process into a well-coordinated recipe for success. With one at your disposal, information will flow much more smoothly across the board.

Manage Risks: There's no limit to the number of elements that can derail either the construction process itself or whatever takes place in the background. And while a project platform can't eliminate these threats completely, its presence can greatly enhance your ability to skip past. This is all thanks to the 360-degree view it will deliver, something you could use to scan the horizon for risks at any moment.

Time Management: This often proves easier said than done if there's no framework in place to coordinate efforts. It therefore helps that most project platforms come packed with features to address this kind of challenge. Perhaps the most significant is the central database -- this creates the possibility of analyzing progress without having to dive too deep into details. Scheduling dashboards are also included as standard to allow users set and track timelines at any moment.

Better Utilization of Human Resources: Project platforms have features to allow users create detailed plans for the allocation of human resources. Once yours is up and running, you'll be able to delegate tasks across team members in a way that promotes efficiency and accountability. This will in turn eliminate manpower shortages and wastage, just to name but a few of the obstacles that inhibit project progress.

Technology can be a powerful ally in a firm's quest to grow bigger, better and more profitable. Nowhere does this hold more weight than in the construction sector. With the right project management platform in place, your bottom line will improve on a scale that would be unfathomable with whatever you're currently using. What's more, completing the switch before your competitors will result in you having an advantage over them. This is therefore an investment you'll want to make sooner, rather than later.




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