Construction projects often involve complex contracts with multiple parties, evolving requirements, and strict regulatory compliance. Accurately defining the scope of work is critical, but frequent changes, poor documentation, and inefficient processes can lead to disputes, compliance failures, and costly rework..
A major challenge is the lag between physical progress on-site and the recording of financial information. Delays in invoice processing and pay applications can create a false sense of financial security, making it hard for project managers to track actual spending versus budget in real time.
Construction projects generate vast amounts of data from diverse sources, but integrating this data for real-time visualization is difficult. Challenges include inconsistent or incomplete data, lack of standardization, and reliance on outdated technology or manual reporting tools.