Business

5 Tips for Keeping Your Construction Project on Schedule

Published

1 year ago

January 18, 2023

Construction projects are known for getting behind schedule. In fact, McKinsey & Company reports that large projects across asset classes typically take 20% longer than planned and are up to 80 percent over budget.

There are many things that can delay a construction project: bad weather, supply chain issues, faulty workmanship, overbooked crews, and more.

But it doesn’t have to be that way. To keep your construction project on schedule, here are five things you can do:

Review construction plans

Before you break ground, it’s important to review construction plans. These include the scope of work, construction drawings, and other project documents.

Make sure you and all your subcontractors review them so that everyone is on the same page. If there are any questions, be sure to answer them.

Then have everyone sign a written contract outlining their responsibility and deadlines. When it’s all in the contract, things are more likely to stay on schedule.

Create a master schedule

Create a master schedule for everyone to see. Break the project down into phases and put tasks and assignments into the proper sequence.

The master schedule gives everyone visibility into what stage the construction project is currently at. For example, it can help painters know when the insulation has been installed so they know when the walls are ready for them to paint.

Communicate and collaborate

Next, you need to establish standard forms of communication, whether that be by text message, email, or some other method. Determining how information will be communicated is critical in avoiding confusion and disputes later on.

Good communication needs to be built on trust and respect for all team members. Everyone should have access to project updates so they stay in the loop. To prevent unnecessary delays, an open door policy with project managers is best.

Monitor and document progress

Unfortunately, projects rarely adhere to schedule 100% of the time. Chances are you will need to make minor adjustments here and there, and that’s okay.

The key is to closely monitor a project’s progress so you can quickly get back on schedule. One way to do this is to create daily reports on milestones hit. That way, everyone knows where the project currently sits.

Another way to monitor and document construction progresss is to use construction enterprise asset management (EAM) software. It allows you to input project updates and easily disseminate them across your team. But that’s just one feature of construction EAM software. It can also help you:

Meet construction industry safety and compliance requirements
Increase revenue and profitability
Reduce costs and capital requirements
Prevent equipment breakdowns
Maintain optimum parts inventories
And optimize project budgets

When it comes to construction project management, construction EAM software has you covered.

Make contingency plans

Lastly, it’s important to have a plan B (and C and D) if things don’t go according to plan.

For example, your construction project might be delayed by a storm or supply chain issues. In this case, you may want to alter the construction schedule or assign overtime to make up for lost time.

Keep a close eye on progress reports to manage risks and delays and find creative ways to minimize and make up for them.

The bottom line

Despite most construction projects getting delayed, you can still finish yours on time.

By reviewing construction plans, creating a master schedule, communicating and collaborating, monitoring and documenting progress, and making contingency plans, you can mitigate the threat of delays and even finish ahead of schedule.

The key is to have a proactive mindset. With good planning and prevention, you’ll be ahead of the game.

Business

EFX Algo’s April Ascendancy: Commanding $37.63 Million in Deposits with Profits Soaring to $3.27 Million

Published

4 days ago

April 30, 2024

Matthew Wiles

As of April 11, 2024, EFX Algo stands out as a formidable force in the automated trading industry, showcasing extraordinary growth with a record-breaking $39 million in deposits across over 520 accounts. This month alone, EFX Algo realized gains of $321.24k, contributing to an impressive yearly profit of $2.75 million, cumulating a total profit of $3.5 million.

This financial technology powerhouse, co-founded by industry leaders Danny Reardon, Bogdan Padua, and Joe Amara, revolutionized the investment landscape by merging advanced technology with deep market insight to deliver a truly automated, hands-free trading experience.

EFX Algo is marking a significant footprint in the financial technology landscape. This article delves into the remarkable achievements of EFX Algo, spotlighting its rapid growth and the exceptional monthly gains that captivate investors globally.

A Financial Phenomenon

EFX Algo began as an idea between co-founders with a shared ambition to democratize the trading market. Today, it stands as a juggernaut in automated trading, having processed over $39 million in deposits across hundreds of accounts. As of recent evaluations, EFX Algo manages these substantial funds and delivers impressive gains, with reports showing an upward trajectory of $1.43 million in profits in just one month.

“We created a platform that exhibits robust performance and reliability time and again,” Reardon said. “I think I speak for all of us at EFX Algo when I say we are proud to show our numbers, because they reflect our aims: Democratized trading profits for all.”

Innovative Trading Strategies and Performance Metrics

At the heart of EFX Algo’s success are its innovative trading strategies, designed to cater to various investor profiles from conservative to aggressive. The platform’s ability to yield consistent returns is evidenced by its performance metrics, boasting gains that significantly outperform traditional investment benchmarks.

“We employ a diversified approach, meticulously back-tested and refined, to ensure stability and growth amidst the volatile financial markets,” said Reardon.

Unparalleled Support and Client Success Stories

Beyond its financial accomplishments, EFX Algo shines in customer support and satisfaction. The platform has been likened to having a personal assistant, akin to ‘Alfred from Batman,’ always ready to assist and enhance the investment journey.

Testimonials abound of users experiencing substantial portfolio growth, with one investor highlighting a 20.5% increase in just four months.

“We care about empowering investors with the tools and support necessary for success,” Reardon shared.

A Transparent and Trustworthy Trading Partner

Transparency and trust form the cornerstone of EFX Algo’s philosophy. Through real-time data verification with Myfxbook, clients and would-be clients alike can independently assess the platform’s performance, ensuring that their investment decisions are based on genuine and untampered data.

“We believe our openness cements our reputation as a reliable partner in the automated trading industry,” Reardon said. “We are building a community of informed and enabled investors.”

A Visionary Leap into the Future of Trading

EFX Algo is a vision realized, transforming the space of automated trading and setting new benchmarks in financial technology innovation. As it continues to grow and expand its horizons, EFX Algo proves to be a gateway to financial equipment and independence. With its impressive growth, consistent performance, and dedication to client success, EFX Algo stands as a paragon of investment excellence, reshaping the future of trading one transaction at a time.

About EFX Algo

Founded by Danny Reardon, Bogdan Padua, and Joe Amara, EFX Algo is an innovative, fully-automated trading bot designed to provide 100% hands-free, high-return investment opportunities by transforming yearly gains into monthly profits, previously exclusive to an educational network and now available to the general public. The software is designed to manage investments and execute trades in the financial markets without the need for manual intervention. For more information, please visit: https://www.efxalgo.com