A Stitch in Time: The Need for a project analysis tool

Introduction:  Challenges Facing Construction—The foundation of the global economy

The construction & infrastructure industry today is no longer just poised for growth; it has taken off on an exponential growth journey. Globally, the industry forms the fulcrum of the global economic growth, accounting for almost 12-14% of the global GDP and building the spaces for each of us to imagine, ideate, live, work, travel, and thrive in. It truly is woven into every fabric of our being.

However, like every smooth road, this industry is also facing bumps, which, if not smoothened out now, have the potential to reduce this growth journey to a bubble waiting to explode. While the industry is plagued by several challenges, three of them stand out due to their massive impact. First, persistent delays due to poor planning, lack of scheduling, and predictive analysis; second, quality issues due to limited oversight and non-adherence to standards; and third, budget overruns stemming from relatively inaccurate cost estimations and unplanned, non-projected expenses.

The lack of defined approaches or innovative frameworks to address these challenges, broken & fragmented processes, and outdated & irrelevant technologies further deepens these challenges. The need to integrate project planning frameworks to redefine project delivery is now.

There is a massive burden of expectations on every construction project and construction companies, asset owners, infrastructure developers and built environment space creators  are always under the magnifying glass to deliver on-time, within budget, high-quality projects, while dealing with regulations, market dynamics and adhering to evolving sustainability frameworks

Vision mapping & measuring progress in construction project(s)

The world we see and live in everyday is defined by the construction and infrastructure industry.   Every construction project has many moving parts, and managing projects is both a science and an art. Even as the industry has grown rapidly to address global infrastructure needs, it is still working on structured frameworks that translate the vision behind every project into action. We are still exploring frameworks to identify metrics and monitor performance of projects from conceptualization to delivery.

Frameworks like these would empower construction companies and asset owners to overcome hurdles and transform inefficiencies into opportunities for improvement. From aligning project execution with organizational goals to identifying gaps in processes and technology, frameworks need to drive accountability, decision-making, and, ultimately, project success.

An inspiration can be found in the balanced-scorecard methodology, which examines key performance indicators (KPIs) across various project dimensions such as financial health, timelines, quality, safety, and stakeholder satisfaction. By taking a holistic approach, these help organization leaders identify areas of improvement and ensure alignment with organizational goals.

An ecosystem-led solution: InCoBAN paving the way forward

When we started conceptualizing InCoBAN, we were driven by the idea that complex problems need complex solutions. There is no magic bullet or one-size-fits-all approach to address the complex, multilayered & multifaceted challenges of this industry. This led us to develop InCoBAN as an ecosystem, designed by practitioners but with participation from industry experts and academia.

We have looked at addressing the challenges of the construction industry in our proprietary 3-phase approach of Diagnose, Define & Deliver, in which we diagnose or identify the root cause of any challenge, define frameworks to address this challenge in a collaborative approach with inputs from our vast ecosystem of experts, and then deliver them in our signature approach.

This three-pronged approach has helped us lay the foundation of several groundbreaking frameworks, including our proprietary project scorecard. The project scorecard will play a pivotal role in addressing the cost, time, people, and technology challenges of the industry and translating the vision behind every project into action. Here we take you through the curated approach behind the project scorecard

Project Scorecard: InCoBAN Innovation in Action

An interesting anecdote behind the conceptualization of the scorecard: in our conversations with several industry leaders, we noted that something as intuitive as construction management was defined differently by each one of them. This was a lightbulb moment and sent us to the drawing board, thinking caps firmly on. We deciphered that in our quest to find a framework to translate every aspect of a project and organization vision into action lay in defining every aspect of this vision, including what project management or construction management meant to the organization.

With this as a guideline, we developed a framework that has now successfully addressed the project planning and execution challenges across several organizations. For companies with a large portfolio of projects, managing and comparing performance across portfolios is a struggle. The project scorecard has been conceptualized and built to give a clear, concise, and data-driven view of all projects—where they stand, gaps in the current approach, and steps to be taken for better delivery. The project scorecard from InCoBAN helps you gain control, drive improvement, and ensure project success.

While the concept is proprietary, in our ecosystem spirit, here we delve a little deep into the steps of curating a scorecard for every project.

• Defining construction management: We believe that it is impossible to track what you can measure, and the first step to measurement is definition. Therefore, the first step is to study the organization and project intricacies and compare with globally established benchmark to define and spell out the meaning of construction management for the organization and the project
• Marry this with organizational vision to identify focus areas: The second step is to delve deep into the vision of the organization as well as the organization structure itself. We study every aspect of the organization, including people, processes, and technology, and benchmark it with the vision. This, married with the construction management definition helps us identify the focus areas which will determine the success of the project
• Identify metrics—focus areas, dimensions, & pillars: The penultimate step is to dive into each identified focus area and define them. We then define the dimensions of each focus area and quantification metrics. Each metric is critical, helping understand where the organization stands currently and gaps which may arise in fulfilling the deliverables of the project in line with the vision
• Diagnose, Define & Deliver: Finally, we diagnose the gap areas comprising people, processes, technology, among others, and create a diagnostic scorecard that quantifies every focus and dimension.

The scorecard is essential for developing capacity in each project and the entire construction sector. It identifies metrics to measure and diagnose project gaps, defines quantifiable solutions for project success and then sets the standard to compare before & after implementation of these solutions

In addition to bridging gaps and driving efficiency, the project scorecard will be instrumental in strategic planning. It provides a structured framework for construction companies to break down their vision into measurable objectives, align day-to-day project deliverables, and finally track progress every day.

For instance, if an organization envisions sustainability as a key pillar, the scorecard identifies sustainability as a focus area and defines dimensions like carbon footprint reduction or usage of renewable materials. It then tracks current capacity against dimensions, designs the pathway to fulfil the capacity gaps, and helps track these.

By addressing gaps and fostering alignment with strategic goals, project scorecard will naturally lead to enhanced efficiency. With teams operating at their full potential, processes streamlined, and technology optimized, construction companies can deliver projects faster, more cost-effectively, and with higher-quality outcomes.