Yes, Sekady provides comprehensive project tracking and reporting tools that make monitoring project progress effortless. Track milestones, budgets, and timelines in real-time. Generate detailed reports for stakeholders and lenders. Monitor financial disbursements all in one integrated system. Keeps everyone on the same page with visibility into project health, budget adherence, and schedule performance.
Project Tracking and Reporting: The Foundation of Construction Lending
Construction projects are complex. Multiple stakeholders—lenders, borrowers, contractors, investors, consultants—all need visibility into what's happening. Without clear, consistent reporting, misunderstandings arise. Disputes emerge. Trust breaks down.
The solution is comprehensive project tracking and reporting that gives everyone visibility into what's actually happening with the project.
What Comprehensive Project Tracking Includes
Real-Time Progress Monitoring
True project tracking isn't a monthly report prepared after the fact. It's real-time visibility into what's happening right now.
What you should see:
- Current project status (on-track, at-risk, behind schedule)
- Percentage of work complete by phase
- Schedule vs. actual timeline comparison
- Key milestones achieved and upcoming
- Current budget vs. planned budget
- Draw history (all draws with dates and amounts)
- Payment status (pending, processed, cleared)
Why it matters:
- You catch problems while they're still small
- You can intervene before issues become critical
- Stakeholders trust you because information is current
- Decision-making is based on real data, not guesses
Historical Documentation
Tracking isn't just about now—it's about documenting what happened and when.
What should be documented:
- Every draw request (submission date, amount, documentation)
- Every inspection (date, inspector, findings, discrepancies)
- Every approval (who approved, when, any conditions)
- Every payment (amount, method, date cleared)
- Every change order (what changed, why, approved by whom)
- Every covenant check (what was checked, result, any issues)
Why it matters:
- Complete record for audits and compliance
- If disputes arise, you have documentation
- Project learning—you can see what worked and what didn't
- Regulatory compliance—regulators want to see decisions were made properly
Performance Metrics
Good tracking isn't just data collection—it's analysis and insight.
Metrics you should track:
- Budget variance (actual vs. planned, by line item)
- Schedule variance (days ahead or behind)
- Draw frequency and pattern (are they coming on time?)
- Quality metrics (inspection discrepancies, rework)
- Cost per unit (cost per square foot, cost per phase, etc.)
- Time to approve (how long from submission to funding?)
- Payment processing time (how long from approval to cleared?)
Why it matters:
- Metrics show trends (getting better or worse?)
- Help identify problem areas before they explode
- Provide data for forecasting (will project finish on time? On budget?)
- Benchmark against other projects
What Comprehensive Reporting Includes
Project Status Report
The executive summary of what's happening with the project.
Should include:
- Project name, location, borrower
- Overall health (green = on-track, yellow = at-risk, red = serious issues)
- Key metrics (% complete, budget status, schedule status)
- Completed milestones (what's been done)
- Upcoming milestones (what's next)
- Key issues (if any)
- Lender actions/decisions needed (if any)
Why it matters:
- Stakeholders get clear status at a glance
- No ambiguity about project health
- Issues are flagged for action
- Time-saving—one report instead of searching for information
Budget Report
Detailed breakdown of project spending vs. budget.
Should include:
- Total budget vs. total spent
- Budget by line item (foundation, framing, MEP, etc.)
- Actual spend by line item
- Variance by line item (over/under budget)
- Trend (is spending tracking to budget, or deviating?)
- Contingency remaining
- Forecast (what will final cost be?)
Why it matters:
- Immediate visibility into budget health
- Line-item detail identifies problem areas
- Early warning if project is trending over-budget
- Data for forecasting project cost at completion
Schedule Report
Comparison of planned schedule vs. actual progress.
Should include:
- Original timeline vs. current timeline
- Days ahead or behind schedule
- Each major milestone (planned vs. actual completion)
- Critical path items (what's currently holding up the schedule?)
- Forecast (when will project complete based on current pace?)
- Trend (schedule getting better or worse?)
Why it matters:
- Visibility into schedule performance
- Early warning if project is falling behind
- Data for assessing impact on cash flow
- Identifies bottlenecks
Draw Report
Summary of all draws and their status throughout project.
Should include:
- All draws (date requested, amount, status)
- Approval timeline for each draw
- Inspection results (% claimed vs. % verified)
- Lien waiver status (who has signed, who hasn't)
- Discrepancies (what didn't match between claim and verification)
- Payment status (when paid, payment method, when cleared)
Why it matters:
- Complete history of project funding
- Track approval bottlenecks
- Identify patterns (are draws consistently late?)
- Document for audit trail
Financial Summary Report
Overall financial picture of the loan.
Should include:
- Total loan amount
- Total drawn to date
- Total remaining to draw
- Remaining line item budgets
- Interest accrued
- Payment status (any late payments?)
- Forecasted final cost vs. original budget
Why it matters:
- Lender understands exposure
- Early warning if project trending toward over-funding
- Interest calculation verification
- Supports financial statements
Compliance Report
Status of all loan covenants and compliance requirements.
Should include:
- Each covenant (budget, insurance, permits, lien waivers, etc.)
- Covenant status (met, breached, at-risk)
- Any covenant breaches (date, details, remediation plan)
- Compliance documents (insurance certificate status, permit status, etc.)
- Expiration dates (insurance expires when? Permits expire when?)
Why it matters:
- Immediate visibility into covenant compliance
- Early warning if covenant is about to be breached
- Documentation for regulators
- Protects lender's legal position
How Sekady Enables Project Tracking and Reporting
Sekady consolidates all project information in one integrated system.
Real-Time Dashboard:
- See project status at a glance
- Drill down to see detailed information
- Alerts for issues requiring attention
- Mobile-friendly so you can check status from anywhere
Automated Reporting:
- Reports generated automatically (no manual data gathering)
- Customizable templates (generate what you need)
- Scheduled delivery (daily, weekly, monthly reports auto-sent)
- Export options (PDF, Excel, email)
Project Monitoring:
- Track milestones and their completion dates
- Monitor budget line items in real-time
- Compare actual spend to budget continuously
- Flag variances automatically
Draw Tracking:
- All draws in one place
- Timeline of draw requests, approvals, payments
- Lien waiver status tracked
- Inspection results documented
Financial Integration:
- Draw amounts automatically post to accounting system
- Budget tracking updated in real-time
- Remaining balance calculated automatically
- Interest and reserves tracked
Collaboration Tools:
- Comments and updates visible to all stakeholders
- Change orders tracked and documented
- Communication history maintained
- No lost emails or miscommunications
Sample Reports You Can Generate
Daily Status Email
- New draws submitted (# and total amount)
- Draws approved today (# and total amount)
- Draws funded today (# and total amount)
- Issues requiring immediate attention
- Inspections scheduled for tomorrow
Weekly Project Summary
- Overall project health (% complete, budget, schedule)
- Draws this week (requested, approved, funded)
- Quality issues identified and resolution status
- Upcoming milestones and activities
- Issues requiring attention
Monthly Stakeholder Report
- Executive summary of project status
- Key metrics (budget, schedule, % complete)
- Budget detail by line item
- Draws and payments
- Issues and resolutions
- Coming month activities
Quarterly Lender Review
- Comprehensive project review
- Budget analysis (trends, forecast)
- Schedule analysis (trends, forecast)
- Compliance status (all covenants met)
- Risk assessment (any issues?)
- Strategic decisions needed
Annual Summary
- Project completion summary
- Final costs vs. budget
- Timeline analysis (on time? Late? Early?)
- Lessons learned
- Project success metrics
Best Practices for Project Tracking and Reporting
1. Define what matters
- What metrics are important for your business?
- What do stakeholders need to see?
- What does your audit process require?
- What keeps you up at night?
2. Track consistently
- Update project status regularly (daily if possible)
- Don't wait until you have time—make it routine
- Use tools that make tracking easy (Sekady automates much of it)
- Assign responsibility for tracking
3. Report regularly
- Daily internal reporting to catch issues
- Weekly reports to stakeholders
- Monthly detailed reporting
- Quarterly strategic reviews
4. Make reports actionable
- Reports should identify issues, not just report data
- Flag items requiring action
- Make it clear what decision or action is needed
- Include recommendations, not just data
5. Use real-time data
- Don't wait for month-end to see problems
- Real-time dashboards catch issues immediately
- Early detection enables early intervention
- Problems are smaller when caught early
6. Integrate data sources
- Draw requests, inspections, payments all in one system
- Don't have data scattered across emails and spreadsheets
- Single source of truth prevents confusion
- Reduces errors from manual data entry
7. Archive and learn
- Keep historical records of all projects
- Review completed projects to identify patterns
- What worked? What didn't?
- Use learning to improve next projects
Common Reporting Challenges and Solutions
Challenge 1: Data scattered across multiple systems Solution: Use integrated platform like Sekady that consolidates all project data in one place
Challenge 2: Manual data gathering for reports Solution: Use automated reporting that pulls data automatically and generates reports
Challenge 3: Stakeholders asking "where are we at?" Solution: Real-time dashboards give everyone visibility; they can check anytime instead of asking
Challenge 4: Reports prepared too late to be useful Solution: Real-time tracking and daily dashboards provide immediate visibility
Challenge 5: Inconsistent reporting across projects Solution: Standardized report templates ensure consistency
Challenge 6: Too much data, hard to see what matters Solution: Dashboards summarize key metrics; drill down to details when needed
The ROI of Good Project Tracking and Reporting
Scenario: Lender with 25 active projects
With poor tracking and reporting:
- Issues not discovered until they're serious ($50-200K problems)
- 2-3 major problems per year
- Time spent manually gathering data for reports (5 hours per report × 12 reports = 60 hours/year)
- Stakeholder complaints about lack of visibility
- Annual cost: $100-600K in problem cost + 60 hours labor
With good tracking and reporting:
- Issues discovered early (caught at $5-50K stage)
- Problems prevented before they become critical
- Automated reporting (0 hours of manual data gathering)
- Stakeholders have instant visibility
- Annual cost: $25-100K in managed problem cost + 0 hours labor
Savings: $75-500K+ per year
Plus: Better stakeholder relationships, faster decision-making, reduced stress, more time for strategy instead of firefighting.
Conclusion: Tracking and Reporting Give You Control
Construction projects are complex. The lenders who maintain visibility through comprehensive tracking and reporting are the ones who catch problems early, make good decisions, and have satisfied stakeholders.
Sekady's integrated project tracking and reporting tools give you real-time visibility into your projects, automated reporting that saves time, and historical documentation that protects you and your stakeholders.
Ready to improve your project tracking and reporting? Learn how Sekady provides comprehensive project visibility by visiting our FAQ page or scheduling a demo to see real-time tracking and reporting in action.