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Why Transparency in Project Management Matters

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Transparency is often undervalued by some companies, especially when they are in a fast-paced industry like developers who are selecting builders and contractors for their projects. Whether through project documentation or team collaboration, visibility of the project through all of its cycle from pre-commencement, to town planning to contract signing and defects management has always been essential to the growth and success of a commercial construction company. Increased transparency is possible between stakeholders if you’re using construction management software like Procore. Using this, you may feel confident and assured in selecting builders, managing teams and coordinating information access and control. Below could be some of the advantages that you might want to consider when using Procore:

It could make project planning more efficient.

It’s not that we don’t see the value of doing standard documentation, but having an AI-powered tool could let you manage your projects more dynamically. This could help you reduce physical paper usage, and ensure that team members have the most up-to-date and accurate data available when they need it, enabling collaboration with team members in real-time.

It could provide accountability to each member.

Working on a project especially when you’re in a big team can entail a lot of coordination. Being transparent with your every move makes each member understand their roles and responsibilities in the success of a project. Knowing their roles brings a sense of personal accountability on their part, which can help individuals to assess the impact of their actions on the other team members.

It could prevent project interruption.

Project interruptions can be costly and cause knock-on delays. Business processes must be clear to each team member. With project management being more transparent, people know their tasks and can track their progress, allowing potential delays to be pinpointed and for real-time process improvements to be implemented.

It could promote teamwork.

Knowing how your role fits into a larger picture can bring with it increased clarity. You know how your role impacts others and can understand the team members that you need to work more closely with who might be depending on you. Being aware that your actions could affect the performance of the wider team and even the result of the project as a whole.

It could help you in projecting costs and budgets.

Managing multiple projects might make you feel overwhelmed, especially when you’re dealing with numbers. There are things that you might have overlooked that could be detrimental and have a big impact on the cost and budget of a project. With Procore, you can forecast your projected costs and budgets for a project as it can show you your past and ongoing projects in one place.

Management Liability Insurance

Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.

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A business insurance pack can provide cover for your business premises and contents, against loss, damage, theft or financial loss from an insured interruption to the business.

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Silverback Insurance is passionate in helping builders and specialises in finding you the right insurance solution, tailored to your business needs. We work in collaboration with innovative technology such as Procore that looks to disrupt the industry for the good of all.

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

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