A quick guide to construction reporting (Types, tips & benefits)

Decision-making for your construction business can be daunting – even more so if you’re making decisions based on judgment alone.

Leverage construction reporting to get insight into the cold hard facts of your projects. With reporting information, you can make informed decisions for your business and identify risk before it’s too late. 

We broke down the construction stats you should be tracking for each job. Learn about the types of reports that are available, the many benefits of running reports and how to improve your existing processes.

What is construction reporting?

Construction reporting is the process of collecting, organizing and analyzing information about the progress and status of a construction project – and presenting that information to stakeholders concisely.

Why is construction reporting important?

Construction reporting is an important part of project management because it allows project managers to identify potential problems early on and make decisions to address them. Construction project reports play a crucial role in keeping all stakeholders informed of the progress, challenges and achievements of each project.

The types of construction reports

Construction project reports are essential for businesses to be successful. They provide a detailed record of the progress, status and issues related to any project. With the information found in reports, companies can make informed decisions. Here are the types of reports you should be using for your business.

Work in progress (WIP) reports

A construction work in progress report provides a detailed summary of the progress and status of a project. The report allows for easy project management and compares the present data with the original project timeline. You can determine if the project is over budget or under budget, as well as the cost to complete it.

Daily reports

Daily reports are a way to see the progress made each day on the job. By having your team maintain daily logs – including recorded notes and progress photos – you’re able to see progress each day and share that with your clients.

Sales reports

Construction sales reports provide information on the revenue generated by the company. These reports include data on the number and value of contracts or jobs won, the total amount invoiced and received from clients and any outstanding payments. Sales reports are important for assessing the financial health of a business.

Financial reports

Financial reports in construction provide information on the financial performance of a business. They can include data on revenue, expenses, profits and losses. Reports help the financial management process, and owners can make informed business decisions and identify areas for improvement quicker.

Quality control reports

Quality control reports provide information regarding the quality of work on a construction project. In these reports, you can find data about compliance with project specifications and industry standards. These reports may include information on inspections and audits. Quality control reports help ensure that quality standards are met.

Change order reports

Construction change order reports show changes to the original scope of work, schedule or budget from a project. They can provide data on reasons for the change, the impact on a project’s timeline or budget and any approvals required for the change. Change order reports keep everyone informed about changes to the project.

Stakeholder reports

A stakeholder report can provide insight into the progress and status of a construction project. Stakeholders can review these reports to find data on a project’s schedule, budget and more. They can use these reports to monitor risk and make strategic business decisions.

The benefits of construction reporting

Reporting in construction can benefit a company in many ways, including improved collaboration among team members and decision-making support. With reports, you’re able to calculate construction ROI, gain awareness about overdue tasks and review your budget – the possibilities are endless. Take a look at some of the benefits of implementing construction reporting.

1. Transparency

Construction reporting promotes transparency by providing stakeholders with accurate and up-to-date information on the progress and status of each project. With access to important reporting information like the schedule and budget, stakeholders have a clear picture of how a project is progressing. Transparency from reports can help build trust and credibility among owners, investors and project managers.

2. Communication and collaboration

Construction reporting can help facilitate communication and collaboration among stakeholders by providing one common source of information to rely on. These reports can encourage open communication and create accountability. Business owners can create goals based on market research for construction companies, and these reports ensure that everyone is working toward those goals.

3. Decision-making support

Reports provide stakeholders accurate information about a project and allows them to make informed decisions. For example, if a report indicates that a task is behind schedule, a project manager may decide to allocate additional resources or adjust the project’s timeline to keep it on track.

4. Project monitoring and control

When using construction reports, stakeholders can monitor updates on the completion status of various project tasks and milestones. By regularly monitoring these reports, stakeholders can identify potential issues early on and control the project’s performance by taking corrective action. For example, if the report shows that costs are higher than expected, there is time to implement cost-saving measures to bring the project back within budget.

5. Accountability and performance evaluation

Construction reporting shows the project’s progress and performance information so stakeholders can hold team members accountable for their work and evaluate overall performance. By tracking aspects of the project such as completion status of tasks and hours worked, project managers can see where team members may not be meeting expectations or performance criteria. This reduces the need for construction rework since problems are addressed early.

6. Stakeholder engagement and satisfaction

Reporting keeps project stakeholders informed to build trust and collaboration among all parties involved, which leads to greater engagement and satisfaction. Stakeholders can see regular updates and stay engaged with the project’s progress. Reports provide stakeholders with the information they need to make decisions, which keeps them satisfied.

How to improve existing reporting processes

How are your reporting processes? Leveraging construction project reports can save your business from risk and allow you to monitor project performance. Use these tips to improve your processes.

Clearly define reporting requirements

Clearly defining reporting requirements is essential to ensuring that all stakeholders understand what information is needed, when it’s needed and how it should be presented. Distinct requirements help with consistency, accuracy and efficiency of project data.

Standardize reporting templates and formats

Using standardized reporting templates helps by creating consistency among all project reports. All stakeholders receive reports with consistent structure, content and presentation, which makes it easier to analyze data and make decisions. Templates improve time management because they eliminate the need to create new reports from scratch. Lastly, when all reports are similar, it’s easier to compare data across different projects.

Automate data collection and reporting

Automating data collection can improve the accuracy of the reports. Eliminating the need for manual entry reduces the risk of errors and inconsistencies. Automated reporting can ensure data is collected in real time so that stakeholders always have up-to-date information.

Identify and track relevant KPIs

Tracking key performance indicators improves your construction reporting process by providing a focus on the most important aspects of the project. They help to ensure that efforts are focused on achieving each project’s objectives. By identifying and tracking KPIs, stakeholders can assess progress and see areas that need improvement. Stakeholders can also compare the project’s performance to industry standards.

Ensure data accuracy and timeliness

Accurate data is reliable data, which helps with decision-making and project outcomes. Up-to-date and timely information also allows you to identify potential risks and take action early on.

Present data in an easily digestible format

Easily digestible information is easier to understand and interpret. This helps stakeholders quickly identify trends and issues that require attention. Providing data through charts and graphs can also make it more accessible. A digestible format reduces the risk of misunderstandings and provides consistency among all reports.

Foster collaboration and feedback

Feedback and collaboration are key to improving the reporting process. Collaboration helps with the accuracy of the data because all relevant stakeholders are involved in identifying errors. Collaboration also keeps the data reported promptly and makes for quick decision-making. If the reporting process is a team effort, it creates transparency and trust.

Review and evaluate effectiveness

The effectiveness of the reporting process is important to ensure that it meets the needs of stakeholders. Take time to review the process and identify areas for improvement. Consider the stakeholders’ satisfaction and make changes based on feedback. Improve data quality by identifying areas where data is inaccurate or incomplete. Always ensure that reports meet industry standards and relevant requirements.

Provide training and support

Training is vital to ensure everyone is knowledgeable about the process and the requirements they need to meet. Training team members on reporting processes will make them more accurate and consistent. If stakeholders understand the reports, they can make decisions quickly based on the results. Supporting and including the entire team in the process keeps them engaged and invested in the success of the project.

Analyze previous reports

Looking at previous reports can help to identify trends across different projects, which makes it easier to spot potential issues quickly. Analyzing reports can also help stakeholders create a benchmark for comparison to see if a project is performing well. By referring to previous reports, you’re able to look for ways to continuously improve your processes.

Optimize your construction reporting with Buildertrend

Buildertrend has many tools that make the reporting process simple. With the help of Buildertrend’s reporting capabilities, you’re aware of your financial status throughout the life of a project. You can make informed business decisions, grow and adapt.

Buildertrend Analytics helps the decision-making process with insightful and easy-to-understand data. Our data scientists take the raw data from your account and organize it into easily digestible reports. This information helps to leverage your company’s data and form your goals.

Revenue forecasting in Buildertrend allows the tracking of potential dollars coming in from the sales funnel. This tool looks at how many leads you’re pursuing, how many leads are likely to close and the value of those leads. This gives you the ability to create scenarios to forecast revenue.

Buildertrend’s construction reporting software helps with your normal business processes, including construction accounting. The platform can organize information about estimates, bills and purchase orders. There are a variety of ways to run financial reports within the platform to give you an accurate look at the numbers.

Running reports in Buildertrend improves the construction billing process as well by providing an accurate cash flow projection. Work in progress reports include how much money is left to spend on each project. Billing report filters can be easily saved and used repeatedly to make the process quick and easy, and you can use these filters to track bill due dates and know how much is due at any time. Target specific patterns across projects using construction billing codes to see where you’re typically over budget.

Buildertrend provides construction document control by storing all contracts, change orders, invoices, bills and progress reports, allowing easy reporting through the same platform. Generate real-time construction invoice reports, know where you stand financially during each project and stay on budget. 

You can also create transparency for your resources by using construction time tracking to ensure you’re always aware of labor performance, expense management and payroll.

Ready to get started with Buildertrend reporting? Schedule a demo.

Construction reporting FAQs

Get answers to the most common construction reporting questions.