HOW EFFECTIVE PROJECT MANAGEMENT CAN HELP GUIDE THE PROPERTY & CONSTRUCTION INDUSTRY THROUGH THE ECONOMIC DOWNTURN

With uncertain financial times meaning smaller budgets and leaner staff, the property and construction industry is under growing pressure to deliver more with less.

In an attempt to remain competitive, builders and developers are now looking to streamline their project management activities. This can be achieved by replacing multiple disparate software systems and investing in a single, integrated project solution. Such solutions provide users with the ability to effectively manage the complete project lifecycle, from initial feasibility and funding, through acquisition and development, construction, reporting and project sales management.

There is a significant advantage to be gained from consolidating your resource planning and financial information in one database, from cost savings on staff, to more efficient project management and enhanced management agility. In addition, with instant, real-time access to information, organisations can see how the business is performing at any given stage, across all projects. The ability to analyse data on the fly, identify trends and make forecasts is extremely valuable, enabling firms to generate more accurate estimates and to better manage project budgets and timeframes.

Additionally, analysis of finalised projects will enable improved profits and performance going forwards, delivering tangible financial benefits to the enterprise. For example, by exposing and eliminating redundant processes and inefficiencies, significant cost savings can be made on subsequent projects.

Zavanti's Director, Nick Virr adds, "In these challenging times, builders and developers need to analyse the economic viability and profitability of proposed projects, as well as keeping track of project costs and revenue." Nick adds, "It is imperative that project and cost controls are maintained and managed better than ever. Using an integrated system like Zavanti ERP, calculations for rate of return, budget projections, revenue and expense can be generated with a few mouse clicks. In addition authority levels and variation approval processes give you control and visibility of your project budget."

With $1.5 billion in projects completed or commenced, MAB Corporation, is one of Zavanti's largest Australasian clients. To help plan for and deliver their high quality commercial, residential, and industrial developments, MAB use Zavanti's centralised system for feasibility and forecasting, project financials, job control, subcontractors, and reporting, across all their project teams. The results are evident, as despite the slowing global economy MAB continue to strive, with a AU$60 million retail outlet recently completed and a new AU$185 million residential tower development underway in the Melbourne Docklands precinct.

The efficiencies gained by using an integrated project solution, such as Zavanti ERP, are critical to weathering the storm during this grim economic period. When the economy begins to rise again as trends historically forecast, organisations that have investigated and implemented new efficient methods of doing business will be best placed to take full advantage of emerging opportunities. As such an integrated ERP suite, like Zavanti, should be part of today's strategic planning.

Zavanti ERP will be exhibiting as part of the upcoming Urban Development Institute of Australia's (UDIA) National Congress from March 30th - April 2nd. This gives property developers, investors and construction organisations the perfect opportunity to see how Zavanti works first hand.

To register to attend the UDIA Congress or for more information please visit: www.udiacongress.com.au.