Construction equipment are the most crucial and critical resource for a construction company. Construction equipment are a prerequisite for timely completion of all construction projects. As a matter of fact the equipment are one of the most capital intensive long terms investments that a construction company makes. Expenses related to construction equipment have a major impact on wether the company’s balance sheet shows profits or losses and in what quantity. Keeping the economic viability of the company in mind managing the construction equipment and the related expenses becomes top priority at construction equipment companies.

Construction equipment management refers to continuous evaluation of the construction equipment fleet and its cost while at the same time considering the projects at hand. The process of balancing the expense and use of the construction equipment against the timelines and income from the projects can be called construction equipment management. A construction equipment manager needs to be able to take practical decisions with regards to management of the construction equipment to ensure maximum benefits with minimal expenses for the company.

Construction equipment should ideally pay for themselves by helping the owner earn more than it costs to own, operate, maintain, store and use the machine. Operation costs are a recurring expense based on frequency of use while idle sitting machines are a drain to the income. Construction fleets should be evaluated continuously to determine wether

> New equipment need to be added to the fleet.

> Equipment or any of its parts need to be replaced.

> If and when under utilised or damaged machines need to be discarded and at what cost.

The choice of construction equipment for a job site is a key factor to be considered for timely completion of the project within the stipulated budget.It is crucial that the construction equipment managers thoroughly understand the tasks that need to be completed, the machines that need to be used, the budget and time constraints for the same for flawless execution of the construction project.

Construction equipment management can either be taken up project wise or for the company as a whole. Cost-effectiveness is a major criteria of construction equipment management. Following are the things to be considered for effective construction equipment management

1. The choice of construction equipment and the number in which each of the equipments is required for a certain project or projects.

2. Wether it makes more sense to own, lease or rent the equipment and its effect on the bottom line of the balance sheet.

3. Planning which equipment will be working on which job site at what time and for how long.

4. Considering the transportation and operating costs when dealing with multiple projects and their time lines.

5. How to make the most of the construction equipment at hand.

6. Another major aspect of effective construction equipment management is preventive maintenance of the construction equipment which can help save a lot of down time, money and reduce delays in the project.

All in all effective construction equipment is the answer to making construction projects more cost effective while ensuring timely completion of projects.