Thought Leadership, Updates, White Papers & Business Resources

Blog

Get Updates

Stay up-to-speed by tuning in to Tango for top trends, leading practices and industry news in retail real estate, store development, construction management, lease accounting and facilities maintenance.

Capital Program Management Software: Get More Projects Done, Faster

Capital program management software (CPMS) helps organizations efficiently plan, approve, execute, and finance construction projects at scale. The more locations you have to manage, the more construction projects you have to coordinate, and the harder it is to keep those projects running smoothly.

Capital programs deal with such large operations that there are usually many layers of approval within your business. A single change to a program could impact projects on hundreds or thousands of stores. While businesses can use construction project management software or even less specialized software, capital program management software is a purpose-built solution for enterprises.

CPMS like Tango Projects was designed for large-scale programs and puts businesses at the helm, equipping you to manage and oversee individual projects, glean higher-level insights, and understand the relationships between programs and other aspects of your business.

Here are some ways capital program management software can simplify complex processes and keep your projects moving full steam ahead.

Centralize project-related data and documents

For a single capital program, you may need to pull together documents from your lease and accounting departments, various vendors and contractors, facility managers, and construction project managers. And over the course of a project, numerous decision makers may need access to some or all of these documents to move forward with their phase of construction.

Tango Projects brings all project-related documents together in one place and gives you complete control over who has access to what. No one has to dig through emails or navigate complicated folder systems to find what they need. And nobody has to respond to multiple requests for the same information. Everyone goes to the same place to track, store, and manage project documents.

Establish a single source of truth

When your teams and decision makers use disparate systems and channels to coordinate work, it’s easy for people to unknowingly operate based on outdated (and incorrect) information. From approval to funding and execution, Tango Projects provides one version of the truth that everyone can work from.

Map every project

Your projects take place in physical locations. That’s why your capital program management software needs geographic information systems (GIS) capabilities. Without it, it’s impossible to visualize and analyze projects and sites in relation to each other. As you build, close, relocate, expand, retrofit, or remodel various stores, Tango Projects gives you tools to examine how each project could affect your presence in the trade area, impact your other stores, or set up your next project.

Coordinate with internal and external partners

At various stages of a project, numerous employees may need to review and sign off on proposals. They may need to access specific documents relating to their site, region, or area of expertise. Additionally, your teams will need to coordinate with external contractors and vendors to get work done and equipment ordered—and you don’t want invoices and other documentation to live somewhere else.

The Tango Projects CPMS lets you give various levels of access to internal and external partners, so contractors can use the same system you do to get their work approved and get paid for it.

Streamline the approval process

When you have construction crews on site and they encounter a problem—water damage in the ceiling, termites in the wall, electrical work that’s not to code—you don’t want these discoveries to hold up the whole project. While waiting for approval on a change order, you might miss a window of opportunity for a contractor to lump the additional work into their schedule with the rest of the project, then have to wait for them to finish another job.

Unexpected work shouldn’t be treated as a separate project—they’re just change orders for an existing contract. But sometimes systems and legacy processes treat it that way, and in the meantime, either projects stall or contractors have to work around new challenges.

By keeping everything relating to a project connected and using a single system for internal and external workers, Tango Projects makes it easy to approve new work associated with the original project. The funds are there, the project is approved, so adding change orders and approving new work is a breeze.

Capture project ideas

Any time someone has an idea worth pursuing or a problem worth solving, you want to make it visible to the right people. If it’s difficult to give good ideas exposure, your organization is going to execute far fewer of them. Tango Projects lets anyone with access put their ideas in a shared dashboard, so when your team explores opportunities, all of your construction-related ideas and notes live in the same place.

Free up finances for new projects

When you establish budgets for your programs, you’ll often have funds locked to specific projects, regardless of whether those projects are actually gaining traction and using the money. You may have teams chomping at the bit to get going on another project, but they can’t do anything because the funds are set aside for work no one is doing or approving.

Tango Projects enables you to allocate contingency funds to your programs. This way, the first projects that get paperwork in and processes underway are the ones that get the money. This enables you to actually use funds for their intended purpose more quickly and gives you the ability to complete more projects faster.

Additionally, when a project is complete, Tango’s one source of truth means someone can mark it complete, and everyone knows that your capital is usable again.

Simplify bidding

Every time you bid on work, you want to ensure your organization is using a consistent, repeatable strategy across the board. Tango helps you approve bids and pay contractors faster and more responsibly than traditional processes by facilitating collaboration and communication from right within the app.

Streamline capital program management

Tango Projects is a purpose-built capital program management solution for enterprises. Its functionality and capabilities are based on what your business needs to analyze, plan, and execute capital programs. It’s built around your locations and programs, not individual construction projects. Tango provides a single system for overseeing your projects and helps every decision maker see the big picture—so they can easily do their part.

Want to see what Tango Projects can do for you?

Schedule a demo of Tango Projects.

Contributors

Ned Moody

We use cookies to improve your experience on our site, keep our site secure and reliable, and analyze how our site is used. Read our full Privacy and Cookies Policy. By clicking “Accept” or “X” on this banner, or using our site, you consent to the use of cookies unless you have disabled them.