Streamlining Construction Procurement Activities Of A Real Estate Giant

Our Client

A leading real estate company based in the United States with projects in 6 other countries across the world.
With a strong presence in the market, the company specializes in residential, commercial, and industrial spaces.
The company has established a reputation for its expertise, years of trust, and commitment to residents’ satisfaction.

Problem Statement

The client faced challenges in tracking and analyzing delays in various construction procurement activities(Brickwork, Concrete Base, Decoration, Digging, Electrical Cabling, Plumbing & Insulation), leading to project timeline deviations and increased costs.
They needed insights into the performance of each stage in the construction procurement process to identify bottlenecks and improve overall efficiency.
They were struggling to find suitable real estate properties in the desired location due to limited supply, leading to high competition and inflated prices.
They were encountering difficulties in the unpredictable real estate market, making it difficult to make informed procurement decisions due to price and demand fluctuations.
They faced a lack of transparency in the real estate market, particularly in terms of property information, market data, and pricing trends, which hampers their ability to make well-informed procurement decisions.

Our Solution

To address the client’s challenges and provide actionable insights, our team developed a comprehensive Power BI analytics dashboard. This solution enabled effective delay analysis and stage analysis, facilitating data-driven decision-making throughout the project lifecycle.

Delay Analysis

- Data Collection : We integrated the procurement data from various sources, including project management software, contractor reports, and site progress updates, to gather comprehensive delay-related information on the package status.
- Visualization : We designed interactive dashboards in Power BI to visualize delay metrics such as estimated vs. actual timeline, reasons for delays, impact on critical paths, and resource allocation.
- Root Cause Analysis : Our solution included drill-down capabilities to identify the root causes of delays, such as weather conditions, material shortages, or coordination issues, helping the client take appropriate corrective actions.

Stage Analysis

- Data Integration : We integrated data from procurement systems, vendor performance records, and financial transactions to create a holistic view of each stage in the construction procurement process.
- KPI Monitoring : We identified key performance indicators (KPIs) specific to each stage, such as float variance time, cost variance, quality metrics, and vendor performance ratings.
- Performance Comparison : The real-time analytics dashboards facilitated a side-by-side comparison of different stages, highlighting areas of improvement and enabling the client to optimize resource allocation and procurement strategies.
- Alerts and Notifications : We implemented automated alerts and notifications to notify project stakeholders about critical issues or deviations in performance, ensuring timely actions and reducing the impact of potential delays.

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Business Impact

- The client was able to proactively identify and address delays, resulting in a 15% reduction in overall project timeline deviations.
- By minimizing delays and optimizing resource allocation, the client achieved cost savings of 17% in penalties, additional labor, and overhead expenses.
- The interactive dashboards improved transparency and communication with stakeholders, enabling informed discussions and collaborative problem-solving.
- Through stage analysis and process optimization, the client reduced the average cycle time of each procurement stage by 18%, leading to faster project completion.
- By monitoring vendor performance metrics, the client successfully identified underperforming vendors and collaborated with them to improve quality and delivery, resulting in a 10% increase in vendor performance ratings.
- The data-driven insights provided by the Power BI analytics dashboard enabled the client to make informed decisions regarding resource allocation, procurement strategies, and risk management.

Overall, the Power BI analytics dashboard solution transformed the client’s construction procurement report analysis by offering real-time visibility into delays and stage performance. By leveraging data-driven insights, they achieved significant cost savings, reduced project delays, improved vendor performance, and enhanced decision-making capabilities, ultimately contributing to the successful delivery of the project.