Building Financial Success in Construction Projects with Advanced Analytics.
Spend Analytics
Challenge
The complex and dynamic nature of construction projects has led to a series of cost overrun issues over the years.
This cost failure is because of the presence of complexity and uncertainty in a project system.
Solution
A comprehensive analytics framework is required to track and control the construction costs throughout the project life cycle.
Both internal and external data were collated across all the functions/departments in real-time.
Most important financial KPIs were identified in coordination with the domain experts and project managers.
Developed interactive dashboards that generate insights, alerts, and recommendations customized for each stakeholder.
Project Info
Category:Finance
Client: Construction
Location: UAE
Completed Date: 2022
Value-Addition
100% adherence to the project budgets was achieved with the help of analytics dashboards.
Time-consuming and manual paperwork in financial reporting was drastically reduced .
The profitability of the projects was maximized by eliminating cost overrun issues well ahead of time.