Project Management Solution for Construction Industry - facility cost forecasting and management tool

Technology Stack

Problem Statement

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Inaccurate Estimates: Difficulty in accurately estimating costs for materials, labor, and equipment due to manual calculations and lack of real-time data.

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Inconsistent Data: Inconsistent data input and tracking methods can lead to discrepancies and errors in the budget and cost estimates.

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Lack of Visibility: Inability to have real-time visibility into project costs and budgets, making it difficult to make informed decisions.

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Tracking actual costs: Keeping track of actual costs incurred during the construction process and comparing it to the budget can be challenging, especially for large-scale projects.

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Cost control: Adequate cost control systems need to be in place to manage budgets effectively but implementing and maintaining these systems can be challenging.

Solution Overview

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A Leading expert in construction industry collaborated with us to develop facility cost management solution to manage projects and determine cost forecasts.

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The cost management solution allows customers to estimate costs for buildings based on equipment level analysis.

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The application enables users to manage tasks and estimates for material, labor, and equipment requirements.

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The client can provide accurate project estimates in minutes, for benchmarking entire portfolio costs or creating detailed M&R project.

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The solution allows for easy access to export asset-level data, including annual costs, average costs, cost by task per year, deferred costs, and inventory for folders and assets.

Business Impact

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Increased efficiency: The solution streamlines tasks and allows construction professionals to efficiently track material, labor, and equipment requirements, reducing the risk of project delays and cost overruns.

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Improved accuracy: By using a facility cost management solution, construction professionals can more accurately estimate costs, reducing the risk of cost overruns and ensuring projects are completed within budget.

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Enhanced collaboration: The solution facilitates communication and collaboration between team members, allowing for more seamless project management and improved decision-making.

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Better decision making: The solution provides real-time data on project costs, enabling construction professionals to make informed decisions, adjust their budgets accordingly, and avoid unnecessary expenditures.

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Increased profitability: By improving efficiency, accuracy, and decision-making, construction professionals can ultimately increase profitability and competitiveness in their respective markets.

Testimonials of Our Happy Clients

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Key Features

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Add M& R tasks to projects

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Capital Planning to help customers in allocating budgets

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Data Exports/Reports

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User Management

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Import Master data

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Manage New Cost Estimate

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Manage Masters

Our Award-Winning Team

A seasoned AI & ML team of young, dynamic and curious minds recognized with global awards for making significant impact on making human lives better

Awarded Bronze Trophy at CII National competition on Digitization, Robotics & Automation (DRA) – Industry 4.0

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50+

AI & ML
Engineers

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40+

AI & ML
Projects for
reputed Clients

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5 yrs

in AI & ML
Engineering

Awarded as Winner among 1000 contestants at TechSHack Hackathon

Trusted and Proven Engagement Model

  • A nondisclosure agreement (NDA) is signed to not disclose any sensitive information revealed over the course of doing business together.
  • Our NDA-driven process is established to keep clients’ data and IP safe and secure.
  • The solution discovery phase is all about knowing your target audience, writing down requirements, and creating a full scope for the project.
  • This helps clarify the goals, and limitations, and deliver quality products & services.
  • Our engagement model defines the project size, project development plan, duration, concept, POC etc.
  • Based on these scenarios, clients may agree to a particular engagement model (Fixed Bid, T&M, Dedicated Team).
  • The SOW document shall list details on project requirements, project management tools, tech stacks, deliverables, milestones, timelines, team size, hourly/monthly rate cards, billable hours and invoice details.
  • On signing the SOW, an official project kick-off meeting shall be initiated.
  • Our implementation approach, ecosystem, tools, solutions modelling, sprint plan, etc. shall be discussed during this meeting.
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