Construction Project Management: Insights, Capabilities & Tools

Discover the key aspects and benefits of construction project management, including essential features and top software solutions. Learn how to streamline projects, improve efficiency, and ensure successful project delivery.

July 1, 2024

9 min read

Our helpful guide covers everything you need to know about construction project management tools, including their benefits and how best to take advantage of them.

What is Construction Project Management?

Construction project management (CPM) is the practice of overseeing all aspects of a construction project throughout the construction lifecycle, from the drafting stage to project completion. CPM involves the coordination of planning and building efforts, managing costs, and meeting deadlines

Why is Construction Project Management Important?

One of the greatest assets a company can invest in is property construction. Whether starting from scratch or renovating an existing building, construction projects can deliver a transformative effect on a business and greatly increase the property value.  Property management efforts direct activities to deliver quality results on time and under budget.

This guide covers everything you need to know about utilizing construction project management software to help you make informed decisions for investing in the CPM tools that meet your specific needs.

Stages of a Construction Project

Every construction project progresses through several stages, providing structure and clarity to the process:

Stage 1: Project Initiation

Every construction project starts with an idea, but turning it into actionable steps requires careful planning. A feasibility study helps assess goals, scope, and viability to ensure a realistic and achievable project.

Stage 2: Project Planning

Once feasibility is confirmed, teams define objectives, allocate resources, and create a comprehensive budget. This stage is critical in setting clear direction and preventing financial or scheduling issues later.

Stage 3: Project Execution

The project officially begins as teams implement the plan, manage tasks, and ensure smooth workflows. Regular progress updates help keep everything on track and allow for adjustments when needed.

Stage 4: Project Monitoring

With construction underway, managers track key performance metrics, budgets, and timelines. Continuous oversight ensures that any issues are addressed promptly to keep the project aligned with expectations.

Stage 5: Project Close

The final stage involves completing deliverables, conducting final inspections, and ensuring everything meets agreed-upon specifications. Once approved by the client, the project is officially closed, marking successful completion.

A graphic shows five stages of construction project, including project initiation, project planning, project execution, project monitoring, and project close.

What Is Construction Project Management Software?

Construction project management software or CPM software is a collection of software tools that provide companies with a dedicated project management platform, such as Accruent's Lx Projects. Created specifically for directing the planning, design, and execution of a construction project, it offers a comprehensive view of the entire construction process, from start to finish.

Construction project management software is designed with tools that benefit anyone who engages in any part of construction efforts. Whoever takes part in construction projects can use CPM software, such as project managers, architects, builders, engagement teams, and other stakeholders.

What are the Functions of Construction Project Management Software?

As the construction industry and organizations continue to grow, general project management tools often don't meet the specific needs of construction enterprises. Companies turn to CPM software because it offers functionality that directly ties to the unique demands of construction project management. These capabilities and many others make a powerful construction management platform essential to any construction project.

Cost Control: Track and manage expenses through purpose-built functionality for budgeting, bidding, and change management.
Cross-functionality: Manage workflows with notifications and tools that enable all stakeholders and staff to work across departments and construction projects.
Workflow Automation: Automated processes make tasks such as scheduling and workflow management easier and more efficient.
Configurability: Combine best practices with customization options to fit the unique requirements of any construction project.
Viewing Controls: Birds-eye macro views and comprehensive micro views give users greater control over construction projects at every stage.

Centralization: One centralized tool kit empowers all parties to stay on the same page as they work.

6 Key Benefits of CPM Software

In addition to the many capabilities of a construction project management solution like Accruent's Lx Project, CPM systems can significantly reduce project costs through greater efficiency. Construction project managers and project teams can also enjoy numerous other advantages such as these.

A graphic shows six benefits of Construction Project Management Software, including End reliance on tracking spreadsheets, Single-source Access, Access controls, Real-time Information Sharing, Financial Tracking and Projections, and Best Practices Execution

1. End reliance on tracking spreadsheets

A comprehensive CPM software provides numerous tools that meet the complexities of the construction project management process. While spreadsheets can do the job, a CPM can support construction site financials, approvals, and conditional workflows throughout each construction phase, which would be more time-consuming and labor-intensive using a spreadsheet program.

2. Single-source Access

With its ability to scale across functions, CPM software gives every team on a construction project access to one system, ensuring that everyone has the same information in real time. Whether a project is experiencing unexpected construction delays or everything is moving along ahead of schedule and under budget, everyone from the construction project manager to team members on the ground can access details to inform their next steps.

3. Access Controls

Construction project management systems enable administrators to grant access to different features based on their job duties. These access restrictions keep sensitive data secure, simplify workflows, and reduce clutter to minimize wasted time and ensure that the proper parties have the right access to the right information.

4. Real-time Information Sharing

An effective project management platform can eliminate errors due to poor communication by employing cloud-based functionality to expand access to the system. Cloud-sharing enables construction teams, project managers, and other project participants to view information wherever they are, from the construction site to an off-site office or elsewhere. Real-time updates and automatic syncing keep records up-to-date, saving time and ensuring critical information isn't lost in transit.

5. Financial Tracking and Projections

A good CPM system gives the project manager and authorized project participants control over budgeting challenges. Financial tools enable users to manage budgeting and scheduling challenges, ensuring all financial and construction activities from the planning phase to completion remain on the correct path and within the project's scope.

6. Best Practices Execution

An effective construction management software solution can improve efficiency and quality through workflow templates and expert guidance. Configurable built-in workflow management enables construction professionals to deliver a successful construction project while complying with regulations.

Construction Project Management Software Features

When considering the right construction management software for your firm, understanding the available features is critical for identifying the right solution for your organization. Take these features into account when searching for your CPM solution.

A graphic shows four features of Construction Project Management Software, including scheduling, workflow optimization, global implementations, and document management

Scheduling

The ability to integrate work calendars and timetables across an entire project helps reduce confusion, conflicts, and construction project delays that could impede delivery as a project progresses. CPM software should be able to do this by highlighting elements such as these. 

Current and future work schedules, including any recent changes or updates
Options to view by day, week, and month.
Standardized Gantt chart with task timetable views
Project progress indicators
Real-time updates to identify scheduling disruptions or delays

Workflow Optimization

Being able to pinpoint where a team is in a workflow provides critical updates on progress throughout the entire project and identifies next steps. CPM software can give users insights into the different construction workflow stages, from beginning to end utilizing features such as these.

Access to information whenever and wherever it's needed
Secure, reliable viewing of data and workflows
The ability to approve contractor and vendor documentation

Global Implementation

For organizations that operate globally, it's essential to have a construction project management tool that can be deployed wherever they are in the world. Such a solution should be customizable and fit the needs of local markets with these capabilities.

Purpose-built workflows that allow for simple review processes across regions
Regional-based reporting needs, including quarterly variance reports and property management reporting
A comprehensive, inclusive income lease management suite, portfolio management, and regional accounting compliance.

Document Management

It's crucial to be able to access construction plans, share data, and ensure that stakeholders are reviewing the right information. Integrated document management ensures these capabilities.

Markup and redline setting
Document check-in and check-out functionality
Ability to attach image and document files
Assign files to individual users
Automatic notifications of document changes
Improved shareability between users and applications

Accruent’s Lx Projects: Best Construction Project Management Software

Accruent’s Lx Projects is a robust construction project management software designed to maximize remote productivity, streamline project management, and access critical data for informed decision-making. This software provides an all-in-one solution for managing new retail constructions, grand openings, and capital improvement projects, ensuring they are completed on time and within budget.

Features

Lx Projects offers a powerful suite of features designed to enhance productivity and streamline construction project management.

Key features include:

Advanced mobile app for remote productivity: Boosts efficiency by reducing field errors and improving communication across teams.
Efficient resource allocation and cost management: Optimizes resource use and reduces expenses.
Comprehensive management of construction and capital improvement processes: Ensures smooth project execution from start to finish.
Intuitive dashboards with centralized data: Provides easy access to videos, photos, documents, and other critical information.
Secure and effective team communication: Facilitates seamless and safe information sharing among team members.
Device-agnostic compatibility: Works with various systems without the need for customizations.
Full offline functionality: Allows on-site work without an internet connection, syncing progress once back online.

A graphic shows six benefits of Construction Project Management Software, including advanced mobile app, Efficient resource allocation and cost management, Construction Management and capital improvement, Intuitive dashboards with centralized data, Secure and effective team communication, and Device-agnostic compatibility

How Lx Projects Supports Each Stage of Construction

Accruent Lx Projects enhances every phase of the construction lifecycle, ensuring efficiency, accuracy, and seamless collaboration. Here’s how it empowers teams at each stage:

Project Initiation

Centralizes feasibility studies, cost estimates, and project scope for informed decision-making.
Provides cloud-based collaboration tools for early stakeholder alignment and risk assessment.

Project Planning

Automates scheduling, budgeting, and resource planning for streamlined workflows.
Enables teams to set milestones, allocate resources efficiently, and establish compliance guidelines.

Project Execution

Tracks real-time progress with mobile-friendly reporting and field updates.
Supports document sharing and instant approvals to prevent delays and miscommunication.

Project Monitoring

Delivers real-time dashboards and reports to track costs, labor, and material usage.
Uses predictive analytics to identify risks, manage change orders, and ensure compliance.

Project Close

Simplifies final inspections and punch list management for smooth handovers.
Consolidates project data for easy post-project analysis, compliance audits, and reporting.

How Lx Projects Empowers Managers and Maximizes Business ROI

Accruent Lx Projects is built to help project managers take control of construction workflows, ensuring seamless coordination, real-time visibility, and cost efficiency. By integrating powerful automation, mobile accessibility, and data-driven insights, it delivers tangible benefits to both project teams and business leadership.

For Project Managers: Increased Efficiency & Control

Real-Time Visibility: Stay updated on site progress with live dashboards, mobile reporting, and automated alerts.
Seamless Collaboration: Ensure teams stay aligned with centralized document sharing, task tracking, and remote approvals.
Error Reduction: Minimize miscommunication and field errors with structured workflows and standardized processes.
Offline Functionality: Work on-site without an internet connection, with automatic syncing once online.

For Businesses: Higher ROI & Cost Optimization

Reduce Costly Delays: Predict and mitigate risks with proactive issue tracking and automated workflows.
Optimize Resource Utilization: Maximize labor, materials, and budgets through data-driven decision-making.
Ensure Compliance & Risk Management: Stay ahead of regulatory requirements with automated documentation and audit-ready records.
Improve Budget Adherence: Gain full visibility into capital expenditures and financial planning for better cost control.

Find Out More About Construction Project Management Software

Explore Accruent for construction projects and real estate transaction management solutions to help your organization effortlessly manage renovations or new projects. For more information, reach out to our team today to get you started

Construction Project Management FAQs

Who's in charge of construction project management?

Firms typically employ a construction project manager to oversee construction activities and vendor relations to ensure a construction project is completed on time, under budget, and to a client's satisfaction. This position usually involves working closely with clients and construction crews.

What's the difference between a project manager and a construction project manager?

Construction project management is effectively project management specific to construction. There's no real difference between the two where a building project is involved. Firms might use different terms for the same responsibility level, like "project manager", "CPM", "construction project manager", or simply "manager".

Is the construction manager the same as the construction project manager?

While they may sound similar, these positions fulfill distinctly different roles. Construction managers oversee on-the-ground activities, working closely with work crews to ensure the job is being done right. The construction manager reports to the project manager who works closely with clients to ensure the project meets customer expectations.