How key performance indicators reduce schedule and budget overruns
"Measure twice, cut once" is a common adage for hands-on work in construction, but measuring is no less important when it comes to the business operations side of a company. Key performance indicators (KPIs) are invaluable tools to measuring how your company is doing and how it stacks up against competition.
KPIs are only effective, however, when they're properly thought through and the collected data is analyzed into intelligence to better company operations. When that happens, construction firms can reduce schedule and cost overruns, leading to higher profit margins and more winning bids.