SmartNews

 

SmartPM™ Continues to Grow and Partner with the Industry Titans of Commercial Construction.
Keep Up with SmartNews Here.

 
SmartNews

 

SmartPM™ Continues to Grow and Partner with the Industry Titans of Commercial Construction.
Keep Up with SmartNews Here.

 
SmartNews

 

SmartPM™ Continues to Grow and Partner with the Industry Titans of Commercial Construction.
Keep Up with SmartNews Here.

 

April 14, 2021

Attaining the Iron Triangle for Project Success

By Michael Pink, CEO of SmartPM Technologies

According to the Project Management Institute, project managers typically are considered successful if they can make necessary and reasonable tradeoffs amid the “iron triangle” of constraints—time, cost and quality—and still deliver on a project.

In the triangle shown, project scope is the area of the triangle, and constraints are the vertices. The iron triangle theory states that if one of the vertices is pulled in either direction, at least one of the other two vertices needs to change for the area (scope) to stay the same.

  • This could function in several ways. For example, if you seek to:
  • Save money, time and/or quality will suffer;
  • Save time, cost and/or quality will suffer; or
  • Ensure top quality, cost and/or time will suffer.

The iron triangle offers a simple explanation for a relatively straightforward project management concept. However, in the construction world, the iron triangle theory changes and serves as more of an excuse than a rule. That’s because, for construction project managers, it implies a choice must be made; the belief is that only two of the three vertices can be successfully achieved at once on a given project. Instead of stating that when one constraint changes the others need to react, the view in construction is that you can keep ahold of only two of them and the third will be negatively affected. Thus, you have to pick your priorities.

Read Full Article Here

March 18, 2021

21 Startups to Watch in 2021

Meet the Atlanta technology startups shaking up the way we live and work.

Startup founders must be flexible if they want their companies to succeed. In 2020, the pandemic made the path toward growth even more difficult as companies grappled with remote work and reduced industry activity.

To survive the historic year, flexibility wasn’t an option. It was a necessity.  Atlanta Inno and Atlanta Business Chronicle are celebrating the early-stage startups that made it through last year’s turmoil and are now set for continued growth.

SmartPM Technologies 

SmartPM Technologies Inc. provides a software that analyzes construction project timelines and pinpoints areas of possible inefficiency. That capacity could help construction projects stay on track despite Covid-19-related disruptions. Despite little advertising, demand for SmartPM boomed in 2020. The startup tripled its sales revenue and raised a $500,000 seed round in early February, bringing its investments to about $3 million. In 2021, founder and Georgia Tech alumnus Michael Pink hopes to again triple its growth and expand its artificial intelligence and machine learning capabilities.

Read Full Article Here

March 11, 2021

Technology Association of Georgia Announces the Top 40 Innovative Technology Companies in Georgia

ATLANTA (March 11, 2021) – The Technology Association of Georgia (TAG) today unveils the Top 40 Innovative Technology Companies in Georgia.

TAG’S Top 40 Awards, sponsored by Comcast Business and Cherry Bekaert,  recognize Georgia-based technology companies for their innovation, financial impact and efforts to spread awareness of the state’s technology initiatives throughout the U.S. and globally.

“The Top 40 awards recognize and honor this year’s most innovative and impactful technology companies in Georgia,” said Larry K. Williams, President and CEO of TAG. “Each year TAG recognizes the Georgia-based companies that are focused on the creation, development and dissemination of technology to keep Georgia’s technology ecosystem in the global spotlight.”

The 2021 Top 40 Innovative Technology Companies are:

Read Full Article Here

February 16, 2021

Atlanta’s startup SmartPM Technologies to expand to AI after tripling sales revenue

When the pandemic caused delays across the construction industry, SmartPM Technologies Inc. founder Michael Pink decided to shift his focus away from sales.  

It wasn’t that SmartPM’s product couldn’t help construction companies. The Atlanta startup provides software that analyzes construction project timelines and pinpoints areas of possible inefficiency. That capability could help construction projects stay on track despite Covid-19-related disruptions.  

But Pink took a different approach. Instead of advertising the product, SmartPM put out advice on how to manage through the pandemic in white papers, giving a strategic road map to get companies back in gear.  

“We did that a lot early on in Covid,” Pink said. “That sort of took a life of its own. It was really good and built a lot of trust.”  

Demand for SmartPM boomed in 2020. The startup tripled its sales revenue and raised a $500,000 seed round in early February.  

With the funding, Pink plans to hire five more employees. The 15-person team will expand the company’s artificial intelligence and machine learning capabilities, recommending solutions to construction managers after analyzing the data. The capabilities will be based on SmartPM’s analysis of various construction projects.

Read Full Article Here

February 11, 2021

Atlanta’s SmartPM Raises Close to $800K as Construction Industry Transforms to a Post-Covid World

SmartPM, the Atlanta-based full-service project analytics system focused on the construction industry, raised $785,000 through a group of angel investors.

Founder and CEO Michael Pink told Hypepotamus that “part of our funding will push us into AI and machine learning so that we can use datasets in a much more impactful manner.” 

The funding will also be used to grow the team up to 15 members over the course of the year. 

Pink, a Georgia Tech graduate, started working on the idea after seeing the pain points of putting together a large commercial construction project during his time as a consultant.

“Lot of times, projects were ending up in disputes. Half of the work we did was helping people detangle the mess of data that would ultimately explain what problems happened, who caused them, and how much it would cost,” said Pink. 

The platform analyzes schedule data, performance, delays, budget costs, and looks to asses deadline feasibility and possible risks associated with construction. 

Read Full Article Here

 

February 3, 2021

Scheduling Analytics Startup, SmartPM Technologies, Continues Rapid Growth in Construction Industry

SmartPM Triples Sales Revenue, Raises Close to $800,000 in Growth Funding, Looks to Hire More

ATLANTA (February 3, 2021) SmartPM Technologies Inc., a leading schedule analytics company for the construction industry, continued its unprecedented growth, despite the challenges the pandemic has presented in the marketplace.

The company closed another round of seed funding ($785K) in record time at the end of 2020, and saw its greatest gains in new customers in December 2020, tripling its sales revenue. Additionally, the company plans to hire a number of new employees throughout 2021.

“We are thrilled at the growth we have achieved this year and grateful to the many clients who put their trust in SmartPM, as we increased our customer base by 250%. We also couldn’t be where we are without our investors and are positioned for a continuation of rapid growth in 2021,” said Michael Pink, founder and CEO of SmartPM Technologies.

SmartPM serves businesses across the construction industry including, general contractors, owners and owner’s reps, developer/builders, government entities, and some of the world’s largest and prominent insurance and consulting firms.

 

 

December 12, 2020

The Rough Road to Innovation and Digitization in Construction Is Becoming Smoother

When it comes to adopting technology, the construction industry is known for being late to the party. It’s a reality that’s often chalked up to the people in construction collectively being “technology averse” or “old school.” While such characterizations may be partially true, the overall picture is significantly more complex. 

By Michael Pink, CEO SmartPM Technologies

The construction industry has indeed adopted technology over the years, dating back to when computers came on the scene. Technology for accounting, ERP, estimating, scheduling and project management has been utilized for some time now—perhaps not as much as in other industries, but there are reasons for the phenomenon. When measured as a percentage of revenue, statistics show construction industry technology spend is the lowest of any sector, at approximately 1.5%. However, that number is potentially misleading, because the cost of goods sold is heavily weighted by construction materials that can represent more than 65% of all construction costs. 

Regardless of how the low level of technology spend is interpreted, a digitization and innovation revolution is happening in the construction industry right now. So why did it take so long? There are several reasons.

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December 3, 2020

Pandemic Success: How To Minimize Financial Losses, Construction Overruns and Project Delays

These strategies will prepare your construction company to manage the risk and track and communicate the impact to control costs and schedules, and help avoid disputes arising from COVID-19’s construction impacts

By Michael Pink, CEO SmartPM Technologies

Never in our lifetime has the global economy simply halted. Yet, during the pandemic, it did — delaying a significant number of construction projects and leading many stakeholders to seek financial relief. A recent survey by the Associated General Contractors of America found that 75% of contractors had projects canceled or postponed due to COVID-19.

Despite the challenges, construction stakeholders can minimize risk and financial losses during the crisis. Here are the components of an effective action plan.

Read Full Article Here

 

 

October 26, 2020

Michael Pink, SmartPM Technologies (“Alpharetta Tech Talk”, Episode 20)

SmartPM Technologies Founder and CEO Michael Pink joins host John Ray to discuss how his company’s technology is changing the construction industry, in part by identifying and predicting a big pain point:  construction cost overruns. Michael also addresses how AI and machine learning will aid both contractors and owners, and how the pandemic affects the construction industry. “Alpharetta Tech Talk” is produced virtually by the North Fulton studio of Business RadioX® in Alpharetta.

Listen Here

 

 

October 07, 2020

SmartPM Declares Public API to Connect Schedule Analytics Platform with Business Intelligence and Dashboard Applications

SmartPM Technologies declares the launch of its open application programming interface (API)

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September 11, 2020

Executive Profile: Michael Pink helps the construction industry get their jobs done

Even when the city of Atlanta and the country shut down due to the coronavirus pandemic, construction, considered essential, continued. Michael Pink’s SmartPM app helps projects stay on schedule with its automated analytics platform for developers, project owners and contractors. With more than 17 years in the construction industry, Pink said he sees the industrial sector growing here as companies eschew other countries to produce their goods and services within the U.S.

What led you to your career?   After I graduated from Georgia Tech in 2001 as an industrial engineer, I looked for a consulting job in New York City. I took a position with KPMG in its construction consulting and dispute resolution practice. It wasn’t necessarily what I was looking for as a career, but I liked the company and saw it as a foot-in-the-door opportunity. Once I got there, however, I realized the construction industry had plenty of room for operational and procedural improvements. It was common for construction consultants to come from within the industry itself,  and industrial engineer consultants didn’t yet exist in the construction business. Essentially, it was a greenfield opportunity and a perfect fit for me. That experience is ultimately what led me to develop a data analytics technology for the construction industry, which I believe will add a level of systematic analytics that is necessary to improve most problems related to overruns, delays and disputes.

Read Full Article Here