Production reports go beyond basic job cost reporting to help owners and/or project managers understand the output of a measurable task, such as how many quantities have been completed per man hour (e.g., 10 SF/hour) or how much it is costing per unit of measure (e.g., $2/SF).Why is this information important? Actually, the benefits of production reporting are threefold: 1) it allows contractors to see how they are progressing from a production standpoint as a job unfolds, 2) it allows contractors to project their costs on a daily or weekly basis, and 3) it provides precise historical data for more accurate estimating on future jobs with similar conditions.
Until we stop repeating doing the same thing over and over do not expect any changes.
How can you expect productivity to improve if you do not even track it using metrics that go directly into it? Use metrics that are transparent and that everyone can understand without any instructions required. Something even a CEO and stockholders can understand.
Member for
20 years 7 months
Member for20 years7 months
Submitted by Stephen Devaux on Thu, 2014-04-10 02:54
How much cash have you got left to spend? Many project managers take a lot of time assessing what has been spent against the original forecast and unfortunately forget to check what is left in the budget."
So, so true -- cost estimate-to-complete is ao important, and so often overlooked!
All the others are good, too. Especially what it says about progress toward benefits.
Member for
21 years 8 monthsGood for the "fat as_" that
Good for the "fat as_" that do no work at all, USELESS for Operations Management.
Mere Budgeting is not enough.
http://www.foundationsoft.com/resources/articles/77-unit-cost-and-produ…!
Production reports go beyond basic job cost reporting to help owners and/or project managers understand the output of a measurable task, such as how many quantities have been completed per man hour (e.g., 10 SF/hour) or how much it is costing per unit of measure (e.g., $2/SF).Why is this information important? Actually, the benefits of production reporting are threefold: 1) it allows contractors to see how they are progressing from a production standpoint as a job unfolds, 2) it allows contractors to project their costs on a daily or weekly basis, and 3) it provides precise historical data for more accurate estimating on future jobs with similar conditions.
Until we stop repeating doing the same thing over and over do not expect any changes.
How can you expect productivity to improve if you do not even track it using metrics that go directly into it? Use metrics that are transparent and that everyone can understand without any instructions required. Something even a CEO and stockholders can understand.
Member for
20 years 7 monthsGood stuff, Emily! I
Good stuff, Emily! I particularly liked:
"2. Available budget
How much cash have you got left to spend? Many project managers take a lot of time assessing what has been spent against the original forecast and unfortunately forget to check what is left in the budget."
So, so true -- cost estimate-to-complete is ao important, and so often overlooked!
All the others are good, too. Especially what it says about progress toward benefits.
Fraternally in project management,
Steve the Bajan