Performance Measurement in New Jersey
Gentile Consulting Group provides Performance Measurement solutions to the construction industry. Our performance measurement solutions empower the builder, developer, lender or owner to make an informed judgment on the performance of an ongoing project and its strategy.
Our team manages effective performance measurement so that an organization’s strategy is successfully implemented. Performance measurement is all about determining how effective an organization is at achieving its own stated goals or meeting the needs of its stakeholders.
We ensure our client construction projects perform well in terms of cost, quality, timing, flexibility, value, and other dimensions. Our performance measuring systems allow an organization to successfully meet its demands. At both the strategic and operational levels, it aids in better-informed and more effective decision-making.
What is Performance Measurement?
Performance measurement is a process to measure the progress of the work against a baseline plan to help an organization accurately manage the project process, cost and schedule. This technique answers two questions:
- Is the work progressing as planned?
- Is the work costing more or less than planned?
Performance measurement is vital for both large and small construction projects.
Gentile Consulting Group measures the performance of the client’s project in detail so they can be assured of how the construction process is going and where it is likely to end up, particularly in terms of cost and schedule.
Why is Measuring Performance in the Construction Industry so Important?
When a business invests time, money, and other resources in a project, its primary objective is getting a return for its investment. Most construction projects require an analytic approach to Performance Measurement. This is essential to understanding the health of a project and determining how well it’s performing against budget and schedule. GCG is expert at providing performance measurement solutions that help clients manage each project like a business, carefully tracking progress to maintain a clear view of the project’s strengths, weaknesses, and areas for improvement.
Earned Value Analysis
Earned Value Analysis is a key element in performance measurement. It compares Work in Place to the baseline Plan and Budget. Typically leveraging the Schedule of Values, Earned Value Analysis is used to assess schedule progress against Plan and cost against Budget. This allows variances to be identified early in time to take corrective action. It allows the project team to bend the trajectory of the project to ensure it comes in on time and on budget. The earned value method allows senior management and project managers to evaluate the team’s accomplishments while also tying them to budgets and timelines.
GCG begins by conducting a thorough examination of the client’s construction budget and schedule, and ensuring the right information is being tracked. We establish the processes, tools and reports to ensure accurate analysis and communication throughout the life of the project. Our Earned Value solution helps clients to know precisely where they stand against the project baseline, what issues might be driving any deviations, and how to stay on track to successful completion.
Progress / Percent Complete
On a regular basis, we meet with the project team, walk the site, and analyze project progress. There’s no better way to assess a project’s health than to observe and listen to how the project team and stakeholders are dealing with challenges. We create systems for measuring physical work in place so that progress can be measured, tracked and forecasted. This is also important for bank draw requests which must be aligned with the progress of the work.
Variance Analysis
Variance Analysis is a technique for determining the difference between actual cost and budget, or actual progress and the agreed schedule. It’s a quantitative way of keeping a construction project well managed. Drivers to variances are identified and quantified, and recommendations are made to keep the project on track. Gentile Consulting Group helps their client investigate the reasons behind the difference in what was planned and what happened, and offers solutions to correct course.
Why use Gentile Consulting Group for Performance Measurement?
Gentile Consulting Group provides better Performance Measurement solutions to the construction industry. We provide insights to ensure your project proceeds according to plan – on time and on budget. Our team is with you from the beginning to the end, giving us a real stake in your success.
We offer our performance measurement solutions throughout New Jersey, and are always committed to fulfilling our clients’ expectations. PSE&G, Merck, Alstom Power, and Aries Clean Technology are some of our clients who have entrusted us with their projects. If you’re interested in our services, take a look at our typical engagements.
If you feel you lack the time or resources to manage your construction projects as well as you’d like, have us join your team today. Every project receives the attention of senior management, and we handle them as our own. It’s our mission to improve your business and your life, by being responsive, professional, and transparent with our commitments to you.
Get started with Gentile Consulting Group, contact us today!