Construction Business Owner

AUGUST 27, 2023

Harness the Power of Estimating Data to Grow Your Business ccapoccia Sun, 08/27/2023 - 12:23 Estimating is the foundation of every profitable construction business. But if you’re submitting bids without analyzing past project data, you’re missing out on valuable insights to prepare the most accurate estimate.

Estimating 296

Estimating Bidding Profitability Foundation 296

Autodesk Construction Cloud

JUNE 8, 2023

The famous Aristotle quote that goes, “Well begun is half done,” rings very true in the construction industry. That’s why investing in a fully integrated construction ecosystem enables you to streamline preconstruction tasks and set your team up for success is crucial.

Profitability 98

Profitability Bidding Estimating Risk 98

Construction Business Owner

AUGUST 25, 2017

If you are a commercial construction business owner planning your bids for spring and summer of 2018, controlling fuel expenses for your fleet is a major consideration. How do construction businesses stay profitable when one of the largest expenses—fuel—is a moving target?

Bidding 240

Bidding Profitability Commercial Plans 240

Safety Services Company

DECEMBER 1, 2023

Two contractors working for a construction firm bid for projects in the same city —we’ll call them Mark and Bob. Rigorous oversight, extensive use of Personal Protective Equipment (PPE), and investment in safety and compliance training drive Bob’s profits well above industry averages. Consider this! Here’s where things change.

Safety 110

Safety Bidding Contract Liability 110

Viewpoint Construction Technology

SEPTEMBER 8, 2017

No one wants to experience profit fade. You want to maximize your profit on every job, and eliminate wasteful practices and spending. Watching every line items allows construction business owners to tighten up on costs of goods sold, indirect costs and operating expenses. Payroll is an area that should be constantly evaluated.

Profitability 205

Profitability Software Software Bidding 205

Autodesk Construction Cloud

APRIL 24, 2023

While incredibly rewarding, the construction industry is a challenging sector to work in for cost-focused business and project executives. Bank failures, rising interest rates, high material prices, and labor crunches are all making it more challenging for construction companies to protect, let alone, improve their margins.

Profitability 97

Profitability Construction Autodesk Forecasting 97

Viewpoint Construction Technology

OCTOBER 24, 2012

I was recently on LinkedIn and noticed a question in one of the group forums asking readers to identify the biggest problem facing construction businesses today. Intense bidding competition is driving prices so low that contractors cannot both make a profit and perform quality work.

Bidding 246

Bidding Profitability Documentation Construction 246

Construction Business Owner

FEBRUARY 9, 2024

How to Set Financial Targets to Achieve Business Goals ccapoccia Fri, 02/09/2024 - 13:22 The key to building a successful construction business: knowing and managing your numbers. You can’t bid projects right unless you know your job costs, production rates, actual overhead and profit goal.

Overhead 156

Overhead Bidding Profitability Budgeting 156

Lets Build

NOVEMBER 15, 2019

Many construction companies struggle to stay profitable. A lot of business leaders focus on bidding on contracts and winning jobs rather than making a profit in order to keep up. One major reason behind this is the way the industry works.

Profitability 84

Profitability Bidding Construction Contract 84

ENR Construction

MAY 22, 2024

When the Federal Reserve hiked interest rates 11 times last year in a bid to control rampant economic inflation, many Top 400 Contractors said they felt those policy changes in the form of project delays, rescopes or outright cancellations.

Profitability 83

Profitability Contractors Bidding 83

Construction Business Owner

DECEMBER 2, 2016

1 challenge many contractors face is profit shrinkage or profit margin fade. This recurring problem appears when final construction job cost comes in higher than the bid or contract project budget. I often hear company owners say that they bid using a 15-percent markup for overhead and 10 percent for profit.

Profitability 120

Profitability Overhead Bidding Income 120

Autodesk Construction Cloud

OCTOBER 21, 2022

Construction bids are critical to winning more work, so it pays to have a solid understanding of what they entail and what you can do to improve your bidding performance. . In this comprehensive guide, we’ll cover everything you need to know about construction bids. What is the Construction Bidding Process?

Bidding 52

Bidding Construction Contractors Contract 52

Autodesk Construction Cloud

OCTOBER 16, 2023

The construction industry can be a challenge to work in for cost-focused business and project executives. Attending leading industry events and conferences is a great way for forward-thinking construction professionals to advance both their careers and businesses. Don't forget to also register for the Construction Industry Forum.

Profitability 52

Profitability Las Vegas Autodesk Construction 52

Autodesk Construction Cloud

JULY 31, 2023

Let’s face it – construction executives are feeling the pressure to do more with less. And to top it off, construction workers are in high demand, but short supply. To fulfill project and profit expectations consistently – and provide fulfillment for workers themselves. How Are Construction Firms Protecting Margins In 2023? “The

Profitability 52

Profitability Construction Innovation BIM 52

Levelset

MARCH 11, 2022

Prioritizing a low bid over contractor performance is a lose-lose procurement strategy. Unfortunately, low bidding is an accepted practice for both owners and contractors alike. Owners will say that focusing on the lowest bid possible ensures they get a good price. Who’s responsible for low-bid procurement?

Bidding 98

Bidding Cash Flow Contractors Procurement 98

Construction Business Owner

JUNE 26, 2013

How many times have your estimators or you uttered the phrase, “That firm is bidding below cost”? While not all contractors are responsible bidders, if you are facing credible competition that seems to be bidding below cost, you probably need to ask yourself if you know your costs to execute work. Understand Your Costs.'

Bidding 207

Bidding Profitability Estimating Contractors 207

HardHatChat

FEBRUARY 14, 2024

As anyone in the commercial construction industry knows, reliable, responsive, and skilled subcontractors are the lifeblood of our business. We believe it enhances our project outcomes, mitigates risks, and supports the overall success of our national construction business. Believe me, it takes some trial and error.

Commercial 295

Commercial Construction Schedule US 295

Construction Business Owner

SEPTEMBER 18, 2019

The construction industry continues to invest heavily in safety management. Safety performance affects your ability to bid and win work and to negotiate contracts. As such, safety is a key driver of a construction company’s productivity, quality and profitability.

Safety 320

Safety Negotiation Bidding Profitability 320

Fieldwire

FEBRUARY 14, 2022

Anyone who has managed a construction company, department, or project knows profitability can be challenging. Intense competition, fluctuating market conditions and other factors often result in tight profit margins. Even with numerous challenges, specialty contracting can be profitable. In-Demand Expertise.

Profitability 98

Profitability Contractors Management Contract 98

Construction Business Owner

MARCH 23, 2023

In the construction business, it means winning more than 33% of your bids and making a minimum of 5% to 10% net profit. How to Expect, Demand & Achieve Excellence ccapoccia Thu, 03/23/2023 - 09:07 In baseball, achieving excellence means hitting over.300. In golf, it means shooting par.

Bidding 156

Bidding Profitability Innovation Plans 156

Construction Dive

JUNE 14, 2019

Be able to spot profit-generating projects from a mile away. Learn from shared tips on how to choose which projects to bid on, and how to run them more profitably.

Profitability 95

Profitability Bidding 95

Construction Enquirer

JULY 23, 2023

Veteran house builder Jolyon Harrison has been appointed as CEO at cash-strapped Inland Homes in a bid to turn the business around. I look forward to the Inland team helping me to turn the business round which will take a while, but we are looking forward to a profitable future.”

Bidding 80

Bidding Housing Banking Profitability 80

Construction Dive

APRIL 5, 2023

The London-based contractor is benefiting from the Infrastructure Investment and Jobs Act, a strong backlog and selective bidding.

Profitability 90

Profitability Bidding Infrastructure Contractors 90

Construction Business Owner

SEPTEMBER 17, 2019

Therefore, when pricing and estimating projects, you must include the time and money required for each in your bids. Whether you are a general contractor, builder, specialty contractor or subcontractor, it takes labor, equipment and materials to complete a contract’s scope of work. Here's how to do that properly. .

Profitability 249

Profitability Bidding Estimating Equipment 249

Construction Business Owner

MAY 16, 2023

Understanding this basic principle sheds light on the most fundamental element at the heart of every construction firm’s finances: accounting estimates, specifically related to job costing. These estimates provide management with a foundation to effectively interpret costs, profitability and bid processes.

Accounting 156

Accounting Estimating Finance Bidding 156

Job Order Contracting

APRIL 4, 2024

Let’s break down what this means: Job Order Contracts (JOC) Definition : JOC is a type of procurement process used by public agencies to accomplish a large number of small to medium-sized projects with a single, competitively bid contract. It should be used to account for contractor overhead and profit. appeared first on 4BT.

Overhead 188

Overhead Profitability Contract Risk 188

Autodesk Construction Cloud

MAY 24, 2023

While you might know you need flour, eggs, and butter, if you forget another crucial ingredient or put in the wrong proportions, you could have a baking disaster on your hand. The same is true for construction projects, only on a much grander scale. Fortunately, construction takeoff software solutions can solve that problem for you.

Software 98

Software Software Bidding Estimating 98

Viewpoint Construction Technology

MAY 11, 2017

There are many reasons to adopt integrated construction software , including flexibility, organization, and project management. Using a web- or cloud-based software solution is also the best way to increase your estimate accuracy and improve profitability. It should be a part of your strategy to win more bids. Bid Day tool.

Estimating 130

Estimating Bidding Viewpoint Construction 130

cnstrctr

OCTOBER 17, 2018

Construction is a cut-throat industry, and making your construction business more profitable can be a challenge. Making more money isn’t rocket science, by following our five tips you’ll be increasing your profits in no time! Enhance Your Services To Help Making Your Construction Business More Profitable.

Profitability 60

Profitability Change Orders Construction Schedule 60

Lets Build

FEBRUARY 3, 2023

Arcadis recently released a report about international construction inflation and costs with some interesting findings: Construction companies in both developed and emerging economies are experiencing price increases of over 5%. So what can we do to survive when construction costs are higher than ever?

Construction 148

Construction Materials Risk Management 148

Construction Business Owner

DECEMBER 10, 2019

With projects becoming increasingly complex and new challenges being introduced regularly, developing accurate bids informed by data is critical for subcontractors looking to protect their profitability.

Bidding 224

Bidding Profitability 224

Construction Law

JUNE 28, 2022

Construction is under the microscope again for anti-competitive practices, this time for cover pricing in the demolition sector. The CMA says that bids were being rigged through firms agreeing to submit tenders that were designed to lose.

Bidding 52

Bidding Compensation Contract Office 52

Autodesk Construction Cloud

DECEMBER 12, 2021

Why Construction Teams Should Be Tracking Way More Than Financials. In fact, 43% of construction firms prioritize immediate financial goals over organizational resilience. Below, let’s discuss the importance of construction KPIs and critical metrics your company should be measuring to affect profits and productivity.

Profitability 52

Profitability Products CFMA Construction 52

Viewpoint Construction Technology

JANUARY 29, 2019

Take a Short Quiz on Construction Trends and Statistics and See How Much You Know. What is the largest construction related project? Do you know just how large the construction industry is or what it’s projected to be in the near future? Ever consider what influences construction labor shortages ? Ever wonder….

Industrial 215

Industrial Airports Viewpoint Construction 215

Job Order Contracting

JULY 29, 2021

Lean Construction – Overcoming decades of mistrust, lack of communication, and opposition between facilities owners, designers, engineers, and builders… possible? Only two of the following construction delivery methods are LEAN. Construction Project Delivery Comparison. Design-Bid-Build. Advantages.

Design 130

Design Bidding Engineering Construction 130

HardHatChat

MAY 13, 2014

Workers remove wall panels from a high rise to accommodate new windows for one of the many projects Englewood Construction negotiates with its clients. Be sure to check references of general contractors before entering into a negotiated or competitive bid situation. Commercial construction companies need fees to cover their overhead.

Commercial 281

Commercial Bidding Negotiation Construction 281

Construction Business Owner

OCTOBER 26, 2012

Try these bidding strategies to save time and make your construction company more profitable.

Bidding 120

Bidding Profitability Construction 120