Key Highlights
- OptiSol collaborated with a leading construction industry expert to develop a digital project management solution focused on accurate cost estimation and facility maintenance forecasts
- The solution enables real-time tracking of material, labor, and equipment costs, improving visibility across projects and portfolios.
- Users can generate precise project estimates in minutes, supporting benchmarking of entire portfolios or detailed maintenance and repair (M&R) projects.
- The platform allows seamless export of asset-level data, including annual costs, average costs, deferred costs, and inventory details, enhancing operational control.
Problem Statement
01
Inaccurate Estimates: Construction teams faced challenges in accurately estimating costs for materials, labor, and equipment due to manual calculations and absence of real-time, reliable data.
02
Inconsistent Data: Data was often entered and tracked using different methods, causing inconsistencies and errors in budgets, cost estimates, and overall project planning.
03
Limited Visibility: Project managers could not access real-time cost and budget information, making it difficult to monitor expenses or make informed decisions during project execution.
04
Cost Tracking Challenges: Monitoring actual costs against budgeted amounts for large-scale projects was complex, time-consuming, and prone to errors, impacting overall cost control and project performance.
05
Cost Control Issues: Implementing and maintaining effective cost control systems was challenging, leaving teams vulnerable to overspending and financial inefficiencies throughout project lifecycles.
Solution Overview
01
OptiSol developed a tailored facility cost management solution for the construction industry to streamline project planning, cost estimation, and maintenance forecasting across all project stages.
02
The solution enables users to create accurate estimates for materials, labor, and equipment, based on equipment-level analysis, ensuring precise budgeting for construction projects.
03
Users can manage tasks, schedules, and cost requirements efficiently, allowing teams to plan and allocate resources effectively without delays or miscalculations.
04
The platform generates accurate project estimates in minutes, supporting benchmarking across portfolios and enabling detailed maintenance and repair (M&R) project planning with ease.
05
The solution allows exporting detailed asset-level data, including annual costs, cost per task, deferred costs, and inventory, providing full visibility and actionable insights for better decision-making.
Business Impact
About The Project
This project highlights how OptiSol delivered a digital project management solution for the construction industry to improve cost estimation, budget tracking, and maintenance forecasting. Manual processes and inconsistent data previously led to inaccurate estimates, limited visibility, and complex cost tracking. By implementing a facility cost management system, OptiSol enabled construction teams to generate precise project estimates quickly, track actual costs efficiently, and make informed decisions based on real-time data. The solution streamlined operations, improved collaboration, and enhanced overall project control, ultimately increasing profitability and competitiveness.
Technology Stack
FAQs:
Can it handle large-scale projects?
Yes, the solution is designed to manage complex projects and portfolios, providing detailed cost tracking and analysis.
How quickly can estimates be generated?
Project estimates can be generated within minutes, allowing for efficient planning and benchmarking.
Does it track all types of costs?
Yes, the platform tracks material, labor, and equipment costs, along with deferred and annual costs for assets.
Is real-time data available?
Yes, the solution provides live updates, offering full visibility into project costs and budgets.
Can data be exported?
Yes, users can export detailed asset-level and task-level data for reporting and analysis.
Testimonials of Our Happy Clients
Ken Kisner
Global Head of Digital R&D
My experience has been incredibly positive. They were incredibly easy to work with, even with changing requirements.
They are incredibly competitive, but are only a fraction of the cost of US companies.
They are definitely the most professional of the foreign companies that we were looking into.
Nyswyn K.
Director of Software Development
Our journey with OptiSol has been nothing short of remarkable. For over 7 years, we have partnered with them on our digital transformation, and the results have been truly transformative.
Over the years, we have come to trust OptiSol Business Solutions as a reliable and strategic partner.
Al Bagiro
CTO, Auto Insurance Company
The AI engine was completed on time and trained to 90% accuracy. Their eagerness to learn new knowledge impressed us.
Their team is large to handle multiple projects at once, and likes to resolve challenges as well as learn new things. They also welcome regular communications, and of course, needless to say, develop everything in sprints.
Dan Talken
Founder, CEO, & CTO, My Equipment Library, LLC
OptiSol Business Solutions has shown youthful skill and dedication to the projects. Moreover, they have been quick to implement their solutions without sacrificing the quality of each platform.
We’re constantly impressed with their speed and quality of the development that they achieve on a consistent basis.
Dr. A.K Pradeep
CEO MachineVantage
Exceptional Collaboration and Expertise - A Top-Notch Partner for AI, ML, and Digital Applications.
I have had the privilege of working with an exceptional team of professionals from India on numerous AI, ML, and digital application projects. Their expertise in these domains is remarkable, and they consistently impressed us with their knowledge, resources, and innovative approach.
Rick Tigges
CFO, Bemodo
They are very responsive and able to shift focus quickly as we have needed it for business reasons.
OptiSol Business Solutions has been great at documenting the timeline of the project. They were very responsive and were able to shift focus quickly, as well. They discuss what they’re working on without any issues. So far, there’s no need to improve their service.