Fieldwire

MARCH 5, 2024

Estimating project costs correctly and managing the budget accordingly are just as vital. Subcontractors getting awarded a contract spells financial disaster if the bid is too high to be competitive or too low to be profitable. All subcontractors make project cost estimation and budgeting errors. On average, remodelers net 4.7%

Budgeting 52

Budgeting Budget Estimating Bidding 52

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

Fieldwire

AUGUST 9, 2023

It’s a widespread problem that attributes to some of the inefficiencies that cause large projects to run on average 20% longer to finish than scheduled and up to 80% over budget. This can help improve planning and overall profitability. And yes, that can add up fast.

Industrial 52

Industrial Construction Management Products 52

Lets Build

DECEMBER 2, 2022

By performing ongoing due diligence across these areas (and many others), construction quality management helps ensure projects are completed on time and on budget, using suitably high-quality materials and pre-agreed standards. Issues may arise around ownership and accountability, roles and responsibilities, tools and materials.

Management 156

Management Construction Risk Cash Flow 156

Pro Builder

MARCH 15, 2021

You’ve probably experienced it first-hand — that dreaded feeling when you’ve maxed out the budget three-quarters of the way through a project. Ultimately, the lack of certainty when setting your bids affects your ability to remain profitable. Speaking of which, did you get into this business to build things or be an accountant?

Bidding 52

Bidding Profitability Accounting Remodeling 52

Lets Build

AUGUST 5, 2022

Construction projects are more complex than ever—with tight deadlines and budgets, small inefficiencies quickly add up to high costs and more waste. Over the years, the industry has been working to increase worker safety and reduce risks on job sites—leading construction firms understand that safe worksites are profitable worksites.

Construction 78

Construction Schedule Plans Organization 78

Autodesk Construction Cloud

OCTOBER 27, 2022

It’s important not to overlook the importance of comprehensive budgets and estimates when companies are working under immense pressure to get work done on time and for a profit. Overlooking cost variances may lead to big hits to your profit margin. If you think a demo would be helpful, please contact us.

Estimating 52

Estimating Bidding Modeling Risk 52