No doubt, Real Estate is a rapidly growing industry. Since it has gained pace from previous years, its segment has become more microscopic over time.
For instance: Construction management, Lease management, Residential property sale, etc.
Further, the Real estate sector comprises four sub-sectors -
- Housing
- Retail
- Hospitality
- Commercial.
Also, this sectors growth is well complemented by the growth of the corporate environment, the demand for office space, and urban and semi-urban accommodation.
Since this sector spreads into many fragments, one of the most essential aspects of this sector is its Construction Management. Constructing from a small house to a large building takes a lot of manpower and resources. Also, there are many challenges that come in the process.
So, let us move further to know the various phases, challenges, and what can be their solutions.
What are the Phases of Construction Management?
The first step of real estate starts with construction management. It involves various steps to ensure a construction project is planned, executed, and completed successfully.
Project Initiation:
Define project scope, objectives, and goals.
Project Planning:
Develop a detailed project plan with timelines, resources, and budget.
Design Phase:
Collaborate with architects and engineers to create project designs.
Prequalification of Contractors:
Establish criteria and invite contractors based on experience, stability, and capabilities.
Bid Management:
Prepare bid documents, invite qualified contractors, evaluate bids, and award the contract.
Contract Negotiation:
Negotiate terms, ensure legal compliance, and define scope, payment, and timeline.
Construction Phase:
Mobilize resources, set up the site, and implement controls for progress, costs, and quality.
Communication and Reporting:
Maintain stakeholder communication and provide regular updates through reports and meetings.
Project Completion:
Conduct final inspections, obtain certifications and approvals, and close out contracts.
What are the Challenges that can be Faced?
Project and Task Management:
Difficulties in managing multiple construction sites efficiently.
Bid Management:
Face obstacles in handling the entire bid lifecycle, from creation to evaluation.
Contractor Management:
Lack of maintenance of a comprehensive contractor database.
Document Management:
Poor handling of construction documents, including receipts and payment bills.
Communication and Collaboration:
Slow communication speed within the organization.
Process Automation:
Difficulties in automating task assignments and notifications via email and WhatsApp.
Reporting and Analytics:
Lack of custom reports and dashboards for project insights.
Mobile Access:
Issues in enabling mobile access for field teams in construction.
Workforce Tracking:
Problems in tracking assigned personnel in the construction field, e.g., contractors.
What unique solutions does Salesforce provide?
Salesforce can significantly aid real estate and construction management by providing a centralized platform for project tracking and effective collaboration.
Let us see what solutions Salesforce can provide to the challenges mentioned above-
Project and Task Management:
Salesforce will create standard/custom objects for Projects and Tasks. In addition, it helps in tracking project progress and managing tasks efficiently.
Bid Management:
Create custom objects for Bids and integrate Salesforce CPQ for configuring, pricing, and quoting.
Manage the entire bid lifecycle, from the creation of bid documents to bid submissions and evaluations.
Contractor Management:
Maintain a comprehensive database of contractors using custom objects and fields. You can also track contractor qualifications, certifications, and performance history.
Document Management:
Salesforce has a feature for document storage, linking project records to relevant documents.
Communication and Collaboration:
Salesforce Chatter is a tool for real-time communication and collaboration among project teams, contractors, and stakeholders.
Process Automation:
You can Automate tasks, notifications, and approvals based on predefined criteria. As a result, it reduces manual efforts and improves efficiency.
Reporting and Analytics:
Create custom reports and dashboards to gain insights into project performance, budget adherence, and other key metrics.
Utilize Salesforce Analytics for more advanced data analysis and visualization.
Mobile Access/Workforce Training:
You can enable mobile access for construction teams working in the field using the Salesforce mobile app. Also, you can customize mobile layouts to ensure ease of use and data entry on construction sites.
Conclusion
Salesforce offers valuable solutions for the challenges the real estate and construction industry faces. From addressing challenges like project and task management and bid management to communication delays, Salesforce does everything.
Overall, Salesforce is a powerful tool that streamlines processes, improves communication, and boosts productivity in the real estate and construction management sector.
Want to know more about Salesforce? Connect with us on our official channel: www.bugendaitech.com
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