Unanet recently released its 2024 AEC Inspire Report. In this blog series, we’ll explore the topics and themes it covers and how your AEC firm can use this information to gain a competitive advantage.
Picture this: your architecture, engineering, or construction (AEC) firm lands a high-profile project. It’s the kind of win that makes months of hard work worth it. But once the work begins, the cracks start to show.
Costs spiral. Key resources aren’t available. Deadlines slip, and suddenly, what felt like a step forward becomes a setback. Meanwhile, competitors are managing similar projects with precision and ease. What’s their edge? They’ve understood the importance of forecasting.
For many AEC firms, staying ahead feels harder than ever. Unpredictable markets, tight margins, and resource constraints create constant hurdles. Without a clear way to anticipate challenges, it’s all too easy to fall into a cycle of reactive decision-making – scrambling for solutions instead of shaping your path forward.
When forecasting fails, it’s rarely about effort. Most firms are working hard, but their tools and processes just can’t keep up. Teams might use spreadsheets or rely on manual methods that leave gaps in the data. Often, information lives in silos – financials in one system, project updates in another – so no one has a full picture. That lack of clarity creates serious risks:
The biggest frustration? These issues aren’t inevitable. With better tools and practices, forecasting stops being an obstacle and starts becoming a strength.
Resilient firms don’t guess their way to success. They plan for it. Forecasting doesn’t need to be complicated, but it does need to be intentional. Here’s how to build a more reliable process.
1. Create a single source of truth
Data scattered across systems leads to confusion. Start by integrating your project management, financial, and resource-planning tools. A centralized system means everyone works from the same playbook, making it easier to spot trends and adjust as needed.
2. Focus on quality over quantity
You don’t want to simply collect data. You want to gather the right data. Standardizing metrics across teams – like project costs, labor hours, and resource allocation – helps ensure your forecasts are built on solid ground.
3. Embrace predictive tools
Modern forecasting platforms report on what’s happening and help you see what’s coming. Tools powered by AI and machine learning analyze patterns and recommend actions, whether it’s reallocating resources or adjusting timelines to avoid bottlenecks.
4. Move beyond spreadsheets
Spreadsheets may be familiar, but they’re not designed for the complexities of AEC work. Purpose-built tools let you automate repetitive tasks, visualize data in real-time, and catch potential issues before they escalate. Many firms report higher accuracy and efficiency after switching to more specialized platforms.
When forecasting works, the benefits ripple through every corner of your business. You’ll notice fewer surprises, smoother operations, and stronger project outcomes. Here’s what you can expect:
But perhaps most importantly, forecasting helps you think longer-term. Instead of focusing only on today’s challenges, you can start preparing for tomorrow’s opportunities.
Take a moment to evaluate how your firm currently forecasts. Is your data complete and consistent? Do your tools help or hinder your decision-making? Addressing gaps now means fewer headaches down the road.
The firms that thrive aren’t necessarily the ones with the largest budgets or the most staff – they’re the ones that know what’s coming and act with confidence. Better forecasting won’t eliminate every challenge, but it will give you the clarity and control to handle them head-on.
Looking to make business easy while freeing up more time to do the work that matters? Learn how Unanet can help. Schedule a demo today.