With mounting economic pressure, construction companies need to try new ways to remain profitable.

According to a study in the Journal of Building Engineering that examined 2700 construction projects, profit margins have been shrinking for the past several years. Additionally, construction companies often end up with a completely different margin than the one that was predicted at the outset of a job.

If you can’t realistically track project processes and activities, it’s nearly impossible to make accurate sales forecasts and ultimately set sales, revenue and profit goals. Moreover, according to a report by FMI, construction projects are becoming more complex... (More)