As an entrepreneur, you know that to improve your construction company, you need to track key performance indicators (KPIs). By tracking the right KPIs, you can identify areas where your company is excelling and areas that need improvement.
This article will outline the construction KPIs and metrics you should track to continually improve your company.
Construction KPIs & Metrics You Should Track
You should track several KPIs to improve your construction company. Here are a few construction KPIs and metrics to consider tracking.
Incident or Accident Rate
The first KPI you should track is your incident or accident rate. By tracking this KPI, you can identify construction site hazards and take steps to mitigate them.
Number of Safety Meetings and Communications
Another important KPI to track is the number of safety meetings and communications you have with your construction team. Holding regular safety meetings can ensure your construction site is safe and that your team is aware of potential hazards.
Number of Defects
Another KPI you should track is the number of defects on your construction site. By tracking this KPI, you can identify areas where your construction team needs improvement.
Time Spent Fixing Defects
In addition to tracking the number of defects, you should also track the time spent fixing defects. This KPI will help you identify the areas of friction and make changes to improve efficiency.
Number of Passed Site Inspections
Another important construction KPI is the number of passed site inspections. By tracking this KPI, you can ensure that your construction site meets all safety and quality standards.
Customer Satisfaction
You should also track customer satisfaction to gauge how your construction company is performing. By tracking this KPI, you can identify areas where your company needs improvement.
Employee Downtime
Another construction KPI you should track is employee downtime. By tracking this KPI, you can identify construction tasks that are taking longer than necessary and make changes to improve efficiency.
Employee Satisfaction or Engagement
In addition to employee downtime, you should also track employee satisfaction or engagement. By tracking this KPI, you can identify areas where your construction team is unhappy and make changes to improve morale.
Number of Change Orders
Another important construction KPI is the number of change orders. By tracking this KPI, you can identify construction projects that are going over budget or taking longer than expected.
Bid Acceptance Rate
You should also keep track of your bid acceptance rate. By tracking this KPI, you can ensure that your construction company is winning bids and working on profitable projects.
Revenue and Profit Margin
Finally, you should track your construction company’s revenue and profit margin. By tracking these KPIs, you can identify areas where your company is excelling and areas that need improvement.
Spreadsheet Template
In order to track these construction KPIs and metrics, we’ve created a spreadsheet template that you can use. This template includes all of the construction KPIs and metrics we’ve outlined in this article.
July 2022 | August 2022 | September 2022 | October 2022 | |
Number of Incidents | ||||
Number of Safety Meetings | ||||
Number of Defects | ||||
Time Spent Fixing Defects | ||||
Number of Passed Site Inspections | ||||
Customer Satisfaction | ||||
Employee Downtime | ||||
Employee Satisfaction or Engagement | ||||
Number of Change Orders | ||||
Bid Acceptance Rate | ||||
Revenue and Profit Margin |
Conclusion
By tracking these KPIs, you can identify areas where your company is excelling and areas that need improvement. From there, you can make efforts to continually improve your construction company. Use our construction KPI spreadsheet template to track your KPIs and metrics.