Construction Business Owner

SEPTEMBER 17, 2019

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. Therefore, when pricing and estimating projects, you must include the time and money required for each in your bids. Here's how to do that properly. .

Profitability 250

Profitability Bidding Estimating Equipment 250

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 92

Profitability Bidding Infrastructure Contractors 92

Viewpoint Construction Technology

MAY 14, 2019

The most common contractor errors and how to avoid them to keep your construction projects safe, productive and profitable. The savvy contractor knows they can’t possibly avoid every jobsite mistake. This adds up to smarter, safer projects that are ultimately more profitable. Neglecting Safety Measures.

Contractors 256

Contractors Software Software Accidents 256

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 208

Bidding Profitability Estimating Contractors 208

Viewpoint Construction Technology

JUNE 12, 2013

One of the biggest stumbling blocks, though, is often at the beginning of a project – during bidding – but there are key areas to avoid in order to make sure your teams stay on track. All of these expenses are important to include for your bid to be accurate. Missing the Mark on Profitability. Overlooking Your Indirect Costs.

Bidding 286

Bidding Profitability Construction Cash Flow 286

Viewpoint Construction Technology

OCTOBER 24, 2012

Intense bidding competition is driving prices so low that contractors cannot both make a profit and perform quality work. The answers ranged from finding quality employees to wanting more control over project documents. One theme, however, seemed to dominate the thread.

Bidding 245

Bidding Profitability Documentation Construction 245

Construction Business Owner

SEPTEMBER 18, 2019

Smart contractors understand that safety must be both a core value and a strategic priority. 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

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

Job Order Contracting

JULY 26, 2017

16 Things Every Contractor Should Know When Bidding a Job Order Contract is just an introduction to anyone interested in JOC. Typically, what kind of information is given to the general contractor to put together a price and approximately how often does each occur? Is it the general contractor? Learn more… 1.

Bidding 100

Bidding Contract Contractors Electrical 100

Autodesk Construction Cloud

APRIL 24, 2023

By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. The involvement of various stakeholders, such as owners, architects, contractors, and subcontractors, can lead to constant communication breakdowns.

Profitability 97

Profitability Construction Autodesk Forecasting 97

Autodesk Construction Cloud

JULY 31, 2023

To fulfill project and profit expectations consistently – and provide fulfillment for workers themselves. In The Construction Executive's Guide to Protecting Margins , we asked six industry leaders (and a colleague in engineering) how they’re managing profits, projects, and people. If anything, we have the opportunity to build smarter.

Profitability 52

Profitability Construction Innovation BIM 52

Contractor Bookkeeping

JULY 9, 2019

Estimating and submitting bids are one of the most stressful and nerve-wracking sides of your construction business. With poor bookkeeping, misguided judgment, and clerical errors come bad decisions on what projects to bid and not to bid on until eventually, you'll run out of time and money.

Bidding 51

Bidding Contractors Profitability Accounting 51

Construction Superintendent Magazine

APRIL 16, 2022

Associated Builders and Contractors’ latest Construction Backlog Indicator has increased to 8.3 ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels declined in March. ABC contractors indicate that demand will remain strong, with 65% of contractors expecting sales to.

ABC 52

ABC Contractors Profitability Construction 52

Construction Law

JUNE 28, 2022

Ten well known demolition contractor names have been warned by the Competition and Markets Authority (CMA) that they can expect fines totalling tens of millions of pounds by the end of the year (See the CL website). 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

Job Order Contracting

MARCH 1, 2022

Contractors must evaluate multiple factors in addition to the associated use of their own capabilities and resources. Items included in a JOC coefficient (also known as a “Bid Factor”). General / Prime Contractor Overhead. General / Prime Contractor Profit and risk. Materials. Equipment.

Insurance 233

Insurance Compensation Overhead Security 233

Construction Cost Estimating

JULY 14, 2014

The contractor proposal bid form is used by a contractor to provide a construction proposal. It refers as the initial point-of-contact connecting the owner and contractor. In this form a neat, prearranged bid is written on a proficiently designed bid form.

Bidding 45

Bidding Contractors Overhead Insurance 45

Job Order Contracting

JANUARY 10, 2017

What Construction Contractors Need to Know About JOB ORDER CONTRACTING, Cooperatives, and Best Management Practices. As a construction contractor considering a Job Order Contract (JOC), it is critical to be aware that all JOCs are not the same. Will you earn a reasonable profit?

Contract 100

Contract Contractors Liability Bidding 100

Contractor Bookkeeping

JUNE 16, 2017

Every time the phone rings you need to be willing to question what do they need are how far are you willing to drive to bid the job and do the work. When starting out one of the first decisions to be made is “What Type Of Contractor Am I?” Are you most comfortable being a Trade or Specialty Contractor?

Contractors 48

Contractors Profitability Remodeling Insurance 48

HardHatChat

FEBRUARY 14, 2024

Your reputation and finished product as a national general contractor are only as good as the performance of your local subcontractor partners. Our best referrals come from our most sophisticated and professional partners who like to work with other top-notch contractors. They are a fantastic resource. It matters.

Commercial 295

Commercial Construction Schedule US 295

Construction Business Owner

MAY 9, 2016

Profit margin shrinkage starts when the estimator prepares a bid based on the cost of completion he thinks a job might require versus the cost history of similar, completed jobs. You agree to accept the terms and become the contractor or subcontractor for the project. The customer awards the contract to your company.

Estimating 228

Estimating Bidding Profitability Contract 228

HardHatChat

MAY 13, 2014

Be sure to check references of general contractors before entering into a negotiated or competitive bid situation. Commercial general contractors generally don’t find their way into the mainstream news unless it is for something negative, often involving criminal activity. But the saying goes, all it takes is a few bad apples….

Commercial 281

Commercial Bidding Negotiation Construction 281

Constructonomics

APRIL 12, 2011

I feel like public construction bidding, especially small ones are like the minor leagues of construction projects. Over the past two years, I swear I’ve bid about thirty of these damn things. You fill out a bid form that has you basically sign your life away and then go up against eight to twelve other bidders.

Bidding 123

Bidding Michigan Contractors Profitability 123

ENR Construction

JULY 28, 2023

For MEP contractors to deliver successful building projects, the electrical estimator must provide accurate estimates. From mapping out detailed material and labor costs to determining the margin of error before those costs cut into profit, much relies on accurate electrical estimates.

Electrical 36

Electrical Estimating Bidding Profitability 36

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! Understanding your competition is key to making your construction business more profitable.

Profitability 60

Profitability Change Orders Construction Schedule 60

Contractor Bookkeeping

AUGUST 11, 2014

Recently A General Contractor Who Needed Help Getting Useful Reports Contacted Us. The banker said his Profit & Loss, Balance Sheet did not look right to him. When the contractor asked his in-house bookkeeper to review the QuickBooks company file she did and was emphatic everything was perfect.

Profitability 48

Profitability Contractors Accounting Income 48

Fieldwire

MARCH 5, 2024

To say that winning bids is the key to success in construction is a half-truth. Subcontractors getting awarded a contract spells financial disaster if the bid is too high to be competitive or too low to be profitable. Bidding on projects you have yet to gain experience in can broaden your horizons.

Budgeting 52

Budgeting Budget Estimating Bidding 52

Job Order Contracting

NOVEMBER 17, 2020

Job Order Contracting 2021 is a competitively bid, firm, fixed-price, indefinite quantity contract, and integrated planning, procurement, and project delivery program for as-needed construction services. The UPB reflects Contractors bid an adjustment factor (coefficient) that is applied to all construction tasks listed in the UPB.

Contract 130

Contract Bidding Procurement CSI 130

Contractor Bookkeeping

JANUARY 29, 2021

Estimating and submitting bids is one of the most stressful and nerve-wracking sides of your construction business. With poor bookkeeping, misguided judgment, and clerical errors come bad decisions on what projects to bid on and not to bid on until eventually, you'll run out of time and money.

Bidding 67

Bidding Construction Accounting Profitability 67

Construction Marketing Ideas

JUNE 1, 2018

Michael Stone has been providing business guidance for residential contractors for years; and he constantly advocates the importance of marketing and sales skills to business owners who struggle in part because they rely exclusively on passive referrals, expensive third-party leads services, or chase “low bid wins the job” contractors.

Residential 54

Residential Contractors Bidding Profitability 54

Autodesk Construction Cloud

DECEMBER 12, 2021

Below, let’s discuss the importance of construction KPIs and critical metrics your company should be measuring to affect profits and productivity. Similarly, although basic construction project metrics concern costs and time, profit isn’t the only performance issue to measure. Key Takeaways.

Profitability 52

Profitability Products CFMA Construction 52

Pro Builder

APRIL 19, 2021

5 Reasons to Use Mechanical Contractor Software. The construction industry has gone through an extensive transformation, and technology has completely changed the concept of how to drive more quality, productivity, and profit into projects. The same is true for mechanical contractors. Mon, 04/19/2021 - 06:00. 3) Estimating.

Software 52

Software Software Contractors Change Orders 52

Construction Enquirer

JULY 24, 2023

Sir Robert McAlpine continues to battle to restore margins to industry averages after a year of supply chain, labour availability and inflationary pressures eroded profitability. While revenue edged up 16% to £1.09bn, operating profit remained static at £9.6m. In latest published results for 2022, the group delivered a 0.9%

Profitability 61

Profitability Infrastructure Modeling Bidding 61

Construction Knowledge

MARCH 22, 2013

I came across this story and thought you’d appreciate it: Three contractors were visiting a tourist attraction on the same day. When they all replied that they were contractors, the guard said, “Hey, we need one of the rear fences redone. Why don’t you guys take a look at it and give me a bid?”

Profitability 40

Profitability Bidding New York Texas 40

Viewpoint Construction Technology

JANUARY 17, 2019

Contractors are Buying into Idea of New Tech…But Not Necessarily Funding It. More contractors are moving toward dedicated construction technologists, but the bad news is their IT budgets are still limited, this year’s report notes. Contractors Looking Ahead to More Construction Innovation. in 2016 to 16.9% in 2017 to just 15.4%

Contractors 130

Contractors Industrial Mobility Software 130

Construction Enquirer

JUNE 8, 2023

The collapse ends weeks of speculation about the contractor which has been strangling its supply chain of payments for several months. One rival main contractor said: “Henry’s have been buying work for years and it all seems to have come to ahead as soaring costs and labour caught up with the firm.

Construction 138

Construction Maine Contractors Residential 138

Contractor Bookkeeping

JUNE 20, 2013

Construction Profits Are Simply. Income - COGS - Expenses] = Profit. "If Let''s Get Some Answers - Contractors and sub-contractors know there is more to profits than what is shown above and most of you rely on your "gut feel" to know when project has made a profit or not. Bid Price = $60,000.

Profitability 49

Profitability Income Cash Flow Accounting 49

Construction Dive

SEPTEMBER 10, 2019

Profitability hinges on thorough and accurate bids not only for megaprojects but mid-size projects as well, with owners and contractors alike seeking certainty in the face of ever-shifting material and labor costs.

Risk 65

Risk Bidding Contract Profitability 65