As a construction manager or anyone holding a construction leadership role, you need to know how to track the progress of projects. Key performance indicators (KPIs) are the best way to measure this, as they can provide consistent and valuable insights. Discover the most important KPIs for construction managers to know.
Safety KPIs You Need to Know
One of the most important categories for construction KPIs to be aware of is safety. After all, good construction leadership ensures that their team is safe. Tracking safety-related KPIs does more than just show that you care about worker safety. It also can save money, as you are less likely to see a rise in insurance premiums or other safety-related costs.
At the very least, track the safety or incident rate so you know how often incidents occur. You also want to track the number of safety meetings or other types of communication, such as emails or papers posted in the break area.
Quality Control KPIs You Need to Know
Construction managers also need to track quality control KPIs, as these ensure that you deliver the projects and products exactly how the client wants. Quality control KPIs can help you avoid the need to spend time and money redoing a project or even just a part of it. This category of KPI also helps you easily pass all inspections.
Some of the most important quality control KPIs to track include:
- Customer satisfaction
- Number of defects
- How long it takes to fix those defects
- Cost of rework
- Total site inspections
- How many site inspections you pass
Performance KPIs You Need to Know
You can use performance KPIs to confirm that the project is on track to finish on time and on budget. These KPIs let you know where you need to improve.
Consider tracking the amount of waste, the percentage of time wasted, and the average revenue per day or hour.
Employee KPIs You Need to Know
As a manager, you also need to pay attention to your employees. Even if they don’t plan on long-term construction careers, you want to ensure they are happy and skilled. This minimizes the need for a costly construction recruiting process.
You want to make sure to track the employee turnover rate. This is especially important with the current skilled labor crisis. That labor shortage makes construction recruiting even more challenging, so you want to minimize the need for it.
You should also pay attention to the rate at which employees finish training. This is also particularly useful during the current labor crisis. It is smart to track employee reviews and employee satisfaction.
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