1. A computer implemented method of managing a construction payment process, the method comprising the acts of: establishing electronic communication between a first participant device and a construction project management server; receiving, by the construction project management server, draw initiation information from the first participant device, the draw initiation information including a selection of a date on which a draw will be executed and a selection of one or more participants to receive a notification of the draw; electronically generating, by the construction project management server, the notification of the draw in real-time in response to receiving the draw initiation information from the first participant device, wherein the notification of the draw includes an indication of the date on which the draw will be executed and an invitation to submit invoice details related to the construction project; accessing, by the construction project management server, previously stored notification preference information stored on a computer readable memory, the notification preference information corresponding to at least one of the selected one or more participants and identifying a method for delivering notifications to the at least one of the selected one or more participants; electronically transmitting the notification, by the construction project management server, to each of the selected one or more participants based upon notification preference information corresponding to each of the selected one or more participants; and electronically initiating the draw in accordance with the draw initiation information, wherein the at least one of the selected one or more participants receives a payment in the draw.