How to effectively benchmark your project
Project benchmarking in construction and infrastructure management is widely regarded as a key practice to drive superior project performance. However, if it was simple to implement and perform successfully, then project failure wouldn’t exist. By benchmarking project quality management, projects can understand its performance against other projects whether this is internally or against competitors. It allows projects to understand whether improvements are happening and the impact of those improvements.
In this article, we will explore 5 ways in which to improve your project benchmarking practices, improving project delivery.
1. Accepting Change
Before benchmarking your project can be considered, the business/ project team must be willing to change their current practices. There is going to be little benefit in benchmarking your project to see positive change if your project team/company are not ready for change itself. Change management is another key practice that works hand in hand with Benchmarking. More often than not, overcoming reluctance to change can be the hardest step in successfully implementing benchmarking techniques.
Deciding to set benchmarks against your project would seem like a logical step in order to start the benchmarking process. However, the key is to understand what you intend to do with the data and where you want to improve. Benchmarking works most effectively if there is a solid reason behind it.
3. Repeat the Process
Don’t rest on your laurels. You’ve successfully implemented a benchmarking process into your project and identified where you are outperforming or underperforming against competitors. But don’t stop, that’s just the start. Project and business environments are constantly changing and at a rapid pace. If you are basing big decisions on out-of-date benchmarking, then you could be at risk. Repeat the benchmarking process in order to drive further success but be careful. Don’t jeopardise efficiency by gathering information for information’s sake.
4. Act on Results
As mentioned above, it is important to re-calibrating your project benchmarks. But it is also equally important to act on the results of your benchmarking. You’ve done the hard work to create a change culture, identify your project benchmarks and set-up necessary reporting; so now you need to act on the information! Don’t get caught up in the data and reports and then neglect the opportunity to act on the information and improve.
5. Anticipating Future Trends
Trying to predict the future can always be risky. However, undertaking research to understand which direction the industry is heading can help give insight into what sort of benchmarks should be set and reported against. For example, the Project Controls Survey Report showed that 4D BIM is becoming more frequently used within the construction industry. Simple benchmarking can then be set on future projects to ascertain how much it is used within the companies’ active projects.
Benchmarking in construction management is crucial in enabling projects to meet their objectives, and by using industry benchmarking it can enhance the capability and effectiveness. At LogiKal, we have access to the best industry benchmarking data. This is through our data collection and extensive experience in the most complex construction and infrastructure projects globally.
If you’d like help benchmarking on your project, or if you are looking to improve your capability, get in touch!
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