What Makes Up a Contingency Plan for Construction?
This article outlines the key components of a contingency plan in construction - risk assessment, plan development, plan testing, and plan maintenance.
Using Document Sharing and Storage in Construction
In this comprehensive guide, we'll be diving into the world of document sharing and storage, understanding what they are, and appreciating the role they play in today's digital era. Get used to working with files and relevant storage techniques, because you'll need them!
Cost Database and Pricing Updates
Maintaining and updating cost databases can make your business more financially successful and increase your efficiency. In this article, we break down what a cost database is and why you need to update them.
Why You Need to Assign Tasks and Monitor Progress in Construction
This article will explore the importance of effective task assignment and progress monitoring in construction.
Construction Budgeting and Estimation with Indirect Costs
In this article, we'll discuss several ways to allocate funds for your indirect costs and then we'll look at what that means for estimating jobs and project management. Finally, we'll end with ways to reduce the impact of indirect costs on your project totals.
Learning The Indirect Costs of Business
Indirect costs are expenses that are not directly attributable to a specific project or activity but are incurred as a result of the normal day-to-day operations of a business.
Optimizing Labor Costs
Labor costs are often one of the largest expenses for businesses, and finding ways to reduce these costs is crucial for maximizing profitability and efficiently allocating resources.
How to Calculate Labor Costs
Labor costs are a crucial part of every estimate. Once you have determined what labor costs truly are, and what changes them, you can begin calculating them for your estimate and accounting.
Identifying Labor Costs
This article will enlighten you on the different factors affecting labor costs, including productivity, wage rates, project size, and availability of skilled workers.
Legal and Contractual Aspects of Change Orders
The legal and contractual aspects of change orders are critical to the negotiation process, as they set the parameters and define the remedies for each party involved. This article will explore the contractual provisions of change orders, discuss dispute resolution mechanisms, and recommend best practices for negotiating and addressing change orders.
The Impact That Change Orders Can Have
Change orders are alterations or modifications made to the original project plans, contracts, or agreements due to unforeseen changes in project requirements, scope, or objectives. They play a vital role in any project, as they allow project managers to adapt plans to new constraints, add new resources or tasks to the project, or adjust an existing project element. However, change orders can have a significant impact in a variety of ways.
What Are Change Orders and What Causes Them?
This article aims to provide you with everything you need to know regarding change orders. We'll first define change orders and explore the common reasons they occur in construction projects, then dive into design and construction-related factors that give rise to these changes.
Benefits of Accurate Material Estimations in Construction
Accurate material estimations are essential for the success of any construction project. They help to ensure the efficient use of resources, minimize costs, and improve project scheduling and management.
Time-Saving Tips and Tricks for Estimating
Estimating is an essential part of any construction business. It involves predicting the amount of time, resources, and effort required to complete a task or project. However, estimating can be a time-consuming and challenging process, especially when it comes to complex projects. Fortunately, there are several time-saving tips and tricks that can help business owners, project managers, and estimators to streamline their estimating process and improve accuracy.
Optimizing Labor Productivity
Monitoring and evaluating labor productivity is essential for organizational success and growth. By setting and tracking performance metrics, conducting progress meetings and reviews, identifying productivity bottlenecks, and implementing corrective actions with robust feedback loops, organizations can continually improve worker efficiency and productivity.
Understanding Direct and Indirect Overhead Expenses
By the end of this article, you'll have a solid understanding of direct and indirect overhead expenses, empowering you to better manage your company's finances and drive growth.
How to Maintain Profitable Construction Projects
You can track and maintain a profitable business by centering your projects around your scope. This article outlines how to define your scope of work, implement a process for billing changes, estimate with healthy margins, and manage efficiency.
Creating a Healthy Construction Business
In this article, we'll explore some key metrics and indicators that can help you assess the health of your construction business.
4 Ways to Improve Efficiency in Your Construction Business
In-office and on-site efficiency is what will make or lose you money on construction jobs.
Key Traits of Successful Contractors
Successful contractors set and keep expectations, communicate effectively, are organized, and build reliable teams that meet quality standards. There is a lot more to being a successful contractor, but these four traits will make you a hero to your customers.
How Operating Costs Can Impact Your Business
Too much overhead will reduce your profitability, while efficient overhead can help you compete with your competition and maximize profits.
Managing Expectations in Construction
Expectations are a part of life. We all have expectations of our clients, employees, vendors, and any other person around us.
Understanding Overhead, Margin, and Profit in Construction
In this article, we’ll define overhead and show how understanding and calculating your overhead is essential to the profit and growth of your business.
Understanding Revenue and Profit in Construction
In this article, we define revenue and profit so you can reach your business goals and ultimately make more money. Understanding the relationship between revenue and profit is crucial to your business’s success.
Understanding The Difference Between Invoices and Receipts in Construction
Invoices and receipts play critical roles in your business finances. Let’s take a look at the differences so that you’re better prepared to run your construction business.
How to Become a Great Leader in Construction
Leadership is a responsibility and something that can be developed and built over time. For construction leaders, running a business, being excellent at your craft/trade, managing work/life, and being a great leader can be a very difficult balance.