Over-budget and off-schedule are two phrases no one wants to hear. However, infrastructure projects regularly run over their allotted time and end up costing a lot more than budgeted. According to global construction industry statistics, 90% of global infrastructure projects are over budget or delayed.
There are lots of reasons for missed goals and deadlines—poor project management, design flaws, supply chain issues, poor communication and so on. When you drill down into the root causes, you will find not having the right project management tools, such as a Common Data Environment (CDE), could cost your project millions.
For example, a CDE provides efficient and effective project management. Using a CDE to organize your construction documents on large-scale and complex infrastructure projects keeps your project on track and out of the red.
Here are seven ways a CDE can save you time and money:
1. Lowers Your Cost
The volume of paperwork generated by any project is considerable and often requires extensive storage solutions. Moreover, the paper itself can be costly. Switching to a CDE means using less paper to dispense information, which in turn, avoids the need to pay for additional office space or storage.
2. Saves You Time
Did you know people spend 5%-15% of their time reading information, but up to 50% looking for it? A CDE provides 24/7 easy access to documents and the latest information from any location—a real upgrade from overfilled filing cabinets. Robust indexing capabilities ensure you know exactly where everything is at all times.
3. Deploys Quickly and Easily
Making the transition from paper to digital documents can be difficult. However, there is no better way to get things off the ground than by implementing a well-designed CDE. Deploying a CDE is straightforward, so there is no need for concern over losing valuable time during the transition.
4. Simplifies Update Processes
Much like the concerns surrounding the deployment of new technologies, organizations are often put off by the need to update software. With a CDE solution, maintenance is the provider's responsibility, and any updates should occur in the background to not disrupt work.
5. Increases Productivity
A CDE provides a centralized location for creating, managing and storing documents and valuable information. Rapid searching, sorting and filtering of information means that it can be sourced, collaborated on and presented in a few simple clicks.
6. Ensures Security
Security will always come into question when dealing with classified or confidential information. Additionally, the fact that paper can be easily stolen or destroyed means that crucial documents could be compromised at any time. A CDE uses version control to ensure that original files are never lost and that all changes are auditable.
7. Adheres to Green Business Practices
Organizations need to consider sustainability to adhere to growing standards surrounding “green” business practices. Reducing the impact on the environment isn’t always easy, so implementing a CDE is a big step in the right direction. The digitization and digitalization of processes are vital components of an environmentally friendly business model.
No matter how complicated your infrastructure project is, you will save time and money by adopting a Common Data Environment. In an increasingly digital world, it is integral that businesses adopt emerging technologies to boost their productivity and security online.
Asite provides organizations with a comprehensive Common Data Environment that streamlines information management at all levels. To find out more, visit asite.com.
About the Author:
Rachel Carey is a Digital Content Marketer at Asite, the leading open project management platform designed to manage capital projects and investments, as well as general construction projects.