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Commercial Construction Project Planning: 3 Warning Signs Your Budget Might Go Bust

HardHatChat

Budget is always a major consideration for our commercial construction clients, and as a general contractor we devote significant time to the budgeting process. Here are a few signs that, in our experience, indicate your project budget is more likely to bust: Skimping on Professional Services.

Budgeting 337
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8 essential steps for effective project cost estimation and budgeting

Fieldwire

To say that winning bids is the key to success in construction is a half-truth. 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.

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How to Stop Profit Margin Fade

Construction Business Owner

This recurring problem occurs when the final construction project job cost finishes higher than the bid estimate or budget. Estimators generally price projects using bids from their regular subcontractor and suppliers, plus their standard company production crew rates for labor and equipment.

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Profit Starts With Knowing Your Numbers

Construction Business Owner

You can’t bid projects right unless you know your job costs, production rates, actual overhead and profit goal. You can’t stay on budget unless you know, update and track your job costs on a regular basis during the performance of building a project.

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Commercial Construction Delivery Methods: 3 Times To Go With A Negotiated Bid

HardHatChat

Any long-time readers of Hard Hat Chat have probably picked up on the fact that I’m a big fan of the negotiated bid. The GC then works with the client to budget the job based on pricing from subcontractor partners. Many large or complex construction jobs are budgeted and built out in phases. It’s A Multi-Phase Project.

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How to Set Financial Targets to Achieve Business Goals

Construction Business Owner

You can’t bid projects right unless you know your job costs, production rates, actual overhead and profit goal. You can’t stay on budget unless you know, update and track your job costs on a regular basis during the performance of building a project.

Overhead 156
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How Preconstruction Planning for K-12 Schools Saves Time and Money

Wolgast Corporation

When K-12 School Leaders do reach a point where their District’s need for improvements is beyond what their operating budget can cover, they need to organize a team of professionals to set them up for building success. The AE/CM team then assists the District to identify the full scope, budget, and financial resources for their needs.

Plans 127