Improving Project Outcomes through Cost and Reliability Analytics

Infrastructure projects are high on the agendas of world governments, as insufficient infrastructure represents one of the biggest barriers to economic growth. Furthermore, private construction – both commercial and residential – is at an all-time high. However, problems with project management persist. Construction firms who handle multiple projects simultaneously need to allocate resources carefully. If one project is held up for lack of resources while another has excess contingencies, the larger operation isn’t working as efficiently as it should. Lumivero’s software solutions help forecast and project the best contingency balance.

The cost of labor and materials can be fluid and hard to pin down as contractors are preparing to quote and handle projects. Commodities prices can surge in the case of shortages due to natural disasters or supply chain problems. Such problems can also lead to delays, which in turn beget high labor costs as overtime is needed to catch up. Labor shortages can arise with strikes or geopolitical events. Not to mention volatility in tariff and trade policy, which can significantly impact the import of commodities like steel and concrete. With Lumivero’s software solutions, contractors can get an accurate, probabilistic estimate of materials and labor costs throughout the entire project and understand the likelihood of going over budget under a variety of scenarios.

How do real estate brokers, engineering firms and other key players see your firm in the broader context of the market? Lumivero solutions provide a wide array of tools to analyze qualitative data so you can hear from interview subjects and focus groups. Easily analyze your data to detect patterns and identify areas for action.