Reducing Construction Delays & Operating Costs Through Proactive Asset Management

Introduction

Delays in construction projects can lead to cascading issues: budget overruns, schedule slips, strained client relationships, and loss of workforce resources. If not addressed early, these challenges can escalate into project failure. Proactively addressing these risks eliminates them before they occur.

Oftentimes a key contributor to delays is the mismanagement of construction assets such as equipment and tools. Proactive asset management can help construction teams stay ahead of potential asset-related issues to help keep projects on track.

Key Challenges in Asset Management

Asset management in itself has its own set of challenges: equipment downtime due to unexpected breakdowns, lack of visibility on location and condition of assets preventing getting the right equipment out on the job site, unplanned maintenance leading to longer repair times and higher costs, and underutilized assets creating wasted opportunities to name a few.

Addressing the challenges of asset management will help your company stay ahead of these pitfalls, and eliminate the risks of project delays from assets.

How Proactive Asset Management Reduces Delays

Proactive asset management focuses on the planning, tracking, and maintaining assets before issues arise. Below are some key strategies to employ proactive asset management within your team:

Establish Routine Inventory and Inspection Requirements
Regularly scheduled inventory and inspections of your assets will help ensure the availability of assets, as well as enable your team to address any needed repairs and maintenance early on.
Track Asset Locations
Keeping a record of asset movement across projects or personnel provides visibility into asset utilization, helping teams get the right tools and equipment where they’re needed most.
Monitor Utilization & Expenses
Tracking asset usage and associated costs helps identify underutilized equipment and provides insights into where you can reduce expenses or redeploy resources effectively.

The ROI of Proactive Asset Management

Investing in the tools and processes to support proactive asset management can save construction companies significant time and money by:

Minimizing downtime and ensuring assets are operational when needed.
Boosting workforce productivity by eliminating delays caused by unavailable assets.
Enhancing project execution planning with better visibility into asset readiness and availability.

When implemented successfully, proactive asset management pays for itself by reducing costs of upkeep while also reducing risks to your projects.

Conclusion: Proactively Manage Assets Through CREWVIEW

If you’re wondering how to start implementing proactive asset management within your organization, CREWVIEW is ready to help you take asset management to the next level. With asset management as one of its core pillars, CREWVIEW will quickly allow you to start reaping the rewards of proactive management:

Retain all of your asset information in a centralized location, providing your teams with the information and tools they need when they need them to successfully manage your assets.
Keep track of what assets are available by scheduling routine inventories for your assets.
Stay on top of repairs and maintenance by setting inspection frequencies for your assets and utilizing customizable inspection forms. All needed repairs and maintenance can be tracked and addressed by your team.
Track locations and utilization of your assets by being able to assign your assets individually or as a group to projects or individuals.
Digitize and centralize asset management processes, eliminating paperwork and double data entry.
Access CREWVIEW through the web, or mobile application, ensuring that your team is equipped with the information and tools necessary to effectively manage your assets, when and where you need them.

By proactively managing your construction assets with CREWVIEW, you can reduce delays, cut operating costs, and keep your projects running smoothly from start to finish.