Construction is a big market – 13% of GDP (Gross Domestic Product) as depicted in recent studies. The potential of this market has caught the attention of literally dozens of software firms that are racing to provide a wide range of construction solutions including project management systems to address specific business issues.
If your company is like many others, you may be considering new technology for your project management and/or operations teams. Proceed with caution. There can often be overlap with your current financial/job cost systems. It’s important that you understand the dilemma you may face with the overlap.
Many Project Management solutions address most if not all functional requirements desired by an operations team. Functions such as PM Document Control (i.e. submittal control, RFIs, meeting minutes) have limited overlap with your project financial systems. However, most other functions (budgets, contracts, change orders and forecasting) have significant overlap with financial systems where these functions are being tracked from an accounting perspective.
If mission critical data exists in two separate systems, what software package serves as the system of record – and for which data sets? It’s a question that you should carefully consider and think long and hard about. Learn more in our Integrated Vs. Standalone e Book