Viewpoint Construction Technology

OCTOBER 25, 2017

When profit margins are thin, it doesn’t take much to wipe out a project’s financial benefits. Insights from all this information could increase profit and productivity and reduce time, errors, and material waste. Be it legal, safety, costs, or delays, construction is a high-risk business. Risk management.

Risk 209

Risk Schedule Profitability Viewpoint 209

Job Order Contracting

MARCH 1, 2017

Will you earn a reasonable profit? It is important to review all Job Order Contract provisions to assure avoidance of any unnecessary financial risk or potential legal issues. [1]. Job Order Contracting (JOC) is a competitively bid, firm-fixed price, Indefinite Delivery Indefinite Quantity (IDIQ) LEAN construction delivery method.

Contract 100

Contract Legal United States Documentation 100

Job Order Contracting

SEPTEMBER 28, 2016

Example include, general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, equipment rental, and contractor’s profit. Subcontractors’ overhead and profit. All costs associated with bonding (specifically including bond premiums). As built drawings.

Contract 100

Contract Overhead Insurance Profitability 100

Construction Business Owner

APRIL 26, 2012

Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” Legal language is often unclear, resulting in differences in interpretations that can disrupt and delay projects, increasing costs. Home » Blogs.

Change Orders 120

Change Orders Construction Profitability Software 120

Construction Business Owner

JANUARY 12, 2012

” » The Expensive Process of Bidding. Without spending money bidding projects, you can’t get jobs to make money building them. With more people bidding on fewer jobs, the market is much more competitive. Perhaps the toughest part, though, is that even if you bid a job and don’t win, you still incur costs to compete.

Bidding 149

Bidding Construction Documentation Software 149

Autodesk Construction Cloud

FEBRUARY 1, 2024

Paired with razor-thin profit margins, it’s increasingly difficult for construction firms to build and maintain the financial foundation necessary to compete and thrive in the industry. Faster payment cycles are essential for GCs and subcontractors alike to stay profitable in today’s fast-paced and evolving economic environment.

Autodesk 87

Autodesk Cash Flow Construction Risk 87

Construction Business Owner

JANUARY 5, 2012

Evaluate Bidding Strategy. There are fewer projects to bid and what projects are available are being bid by more people. Consequently, the bidding climate is very competitive with some work going to people bidding below cost. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->.

Construction 120

Construction Bidding Software Software 120

Construction Marketing Ideas

APRIL 11, 2016

Should someone I know well (an 18-year-old) sign a legal waiver document before going to work on a residential renovation site? The individual here is young adult and legally can make his own decisions. I told him, however, that he should not sign any legal waivers here. Anyone who says this is easy has blinders on their eyes.

Regulation 48

Regulation Legal Compensation Insurance 48

Construction Business Owner

OCTOBER 26, 2011

I know a lot of contractors are getting into bidding season, and this got me thinking about communication. Communication is an important element throughout any construction project, but given the time of year, I thought I’d focus on the communication difficulties faced during the bidding process. And then you wait. Beyond Games.

Construction 159

Construction Software Software Bidding 159

Chianelli Estimating

AUGUST 6, 2020

The tendency to adjust their bid estimating will inadvertently produce many business failures. General Condition costs along with indirect costs tend to be much smaller but they are still a reality of doing business and a real profit killer; particularly when not accounted for. Legal expense. The result will not be pretty.

Estimating 60

Estimating Residential Insurance Commercial 60

Pro Builder

JULY 20, 2021

You can avoid legal trouble by managing client expectations with a simple yet comprehensive contract. A contract doesn’t have to be long and confusing to be effective, practically or legally. Not if You Follow These 8 Steps to Make Trades Profitable. . The Best Way for Trade Contractors to Stay Out of the Courtroom. Labor Woes?

Contractors 98

Contractors Contract Legal Change Orders 98

Building Information Management

JULY 2, 2016

Business taxes, contributions, memberships, corporate headquarters support (legal, financial, etc.). contractor’s profit. subcontractor’s overhead and profit. All waste and excess material. Sales tax on material and equipment costs. insurance costs. bonding and alternative payment protection costs. protective clothing.

Contract 40

Contract Overhead Permits Insurance 40

Levelset

APRIL 28, 2022

Some GCs pass the cost of the loss reserve onto the project owner and claim that amount as additional profit on the project. Include X amount of additional profit in your bid.”. On-demand legal help you can afford. To be covered under an SDI policy, a subcontractor must be prequalified by the GC. Learn more.

Insurance 52

Insurance Contractors Claims ABC 52

Construction Business Owner

JANUARY 5, 2012

It’s often easy to bid on a job, start work, and miscalculate how far along in the project you are versus the amount of money you’ve spent. This year, I encourage you to close the gap between your bids, your projections, and the actual cost of the project. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

AUGUST 18, 2011

And that seemed to strike a chord with some of you, so I figured I’d talk more about government jobs, and what you need to be prepared to bid on them. This agreement ensures that a contractor will perform all of the duties they agreed to in the bid they placed, abiding by the terms of that government-sanctioned project. John Chaney.

Cash Flow 168

Cash Flow Software Software Accounting 168

Construction Business Owner

OCTOBER 14, 2011

But I have been surprised at the number of contractors who tell me that they have bid for jobs at break-even or at a loss. Change orders can be harder to manage – and present more of a profitability challenge – than pre-planned project work. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->. John Chaney.

Change Orders 120

Change Orders Construction Software Software 120

Construction Marketing Ideas

DECEMBER 13, 2015

Some years ago, in addressing how a successful contractor has managed to maintain a profitable business despite needing to compete in “low bid wins the job” open competitions, the contractor opened up to me with an observation: He wins the jobs because they are rigged in advance. Image from Wikipedia. And that happened.

Change Orders 48

Change Orders Bidding Contract Contractors 48

Construction Marketing Ideas

FEBRUARY 20, 2016

Shortcuts on health and safety, unethical bid rigging, cheating on taxes with under-the-table deals; all of these activities undoubtedly are part of the construction industry landscape. You then face the prospect of expensive legal bills, civil actions, and possibly imprisonment. Yes, let’s do good, and do it to the extreme.

Legal 48

Legal Resource Bidding Profitability 48

Job Order Contracting

MARCH 27, 2019

LEAN construction services procurement and project delivery is dramatically different from traditional methods such as design-bid-build, design-build, etc. The later includes the builders overhead, profit, and contingencies. At minimum cost estimates should be reviewed quarterly. Estimating and pricing are not the same things.

Renovating 100

Renovating Estimating Construction Budgeting 100

Construction Cost Estimating

APRIL 28, 2014

Subcontractor Quotes : A subcontractor quote, like the general estimate, contains labor, material, equipment, indirect costs, and profit. For the owner : Design fees, permits, land acquisition costs, legal fees, administration costs, etc. Costs also vary if the equipment is owned by the contractor and not rented.

Estimating 45

Estimating Equipment Bidding Profitability 45

PSMJ Resources

MAY 6, 2014

Before taking action that could have legal or other important consequences, PSMJ Resources suggests you speak with a qualified professional who can provide guidance that considers your own unique circumstances. Eliminate any redesign that would go over construction budget bids. . State that this will be an additional service. •

Profitability 40

Profitability Bidding Travel Change Orders 40

Building Information Management

NOVEMBER 6, 2013

Reliant on a Unit Price Book (UPB) and competitively-bid coefficient to establish pricing structure. fewer change orders, increased response to warranty issues, virtually no legal disputes. Competitively-bid coefficient is applied to the UPB and establishes pricing at the outset of the contract. overall project time savings.

Contract 40

Contract Bidding United States Estimating 40

Construction Business Owner

APRIL 2, 2011

« Free Webinar on Reducing Profit Fade. For those of you contractors doing government work: relish the competition involved with bidding. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions. John Chaney.

Construction 159

Construction Software Software Accounting 159

Contractor Bookkeeping

NOVEMBER 18, 2013

And as always, we recommend you have any legal document reviewed by your attorney or legal counsel before using it. A lot of our contractor clients have needed an Accident Prevention Program to include with their bid submittal package and some of them have found this resource useful. We hope you do too!

Accidents 48

Accidents Accounting Construction Profitability 48

Construction Business Owner

FEBRUARY 2, 2012

Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. leadership decisions were relatively easy – who to hire, where to grow, which jobs to bid and how much margin to put on them. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->.

Construction 120

Construction Software Software Accounting 120

Construction Marketing Ideas

MAY 31, 2015

Your competitor is on the inside, with a highly profitable, sweetheart deal (for the competitor) with an organization that advocates and expresses (and sincerely respects) business ethics. The Canadian Museum for Human Rights in Winnipeg. It’s a painful feeling — finding yourself on the outside, behind a barrier you cannot break.

Profitability 48

Profitability Organization Discrimination Conference 48

Autodesk Construction Cloud

DECEMBER 3, 2021

In parallel with better planning, technology can also help to reduce the common problems or elements that contribute to cost overruns, ensuring you can maximize efficiency and profits. Due to the competitive nature of the bidding process , estimates may suffer from wrongful expectations of the scope of work included in the project.

Budgeting 52

Budgeting Budget Construction Software 52

Construction Business Owner

JANUARY 12, 2012

The Expensive Process of Bidding » Save Time, Resources – File Electronically. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->. Construction Business Owner E-Newsletter. -->. Home » Blogs. « Simplified Decision Making – Getting People and Processes In Order. John Chaney. leadership.

Construction 136

Construction Software Software Accounting 136

Contractor Bookkeeping

JULY 21, 2012

We are not attorneys and do not give legal advice so check with your attorney. Lots of contractors playing by the rules take pleasure in turning in unlicensed contractors to Labor And Industries because unlicensed contractors have an unfair price advantage in competitive bid situations.

Contractors 58

Contractors Insurance Washington Bidding 58

Construction Marketing Ideas

MARCH 26, 2016

The GOHBA’s directors decided they wanted to publish a newsletter and out of the blue I received a call inviting me to bid the job. In the course of working with the association and its members, the then-chair of the GOHBA Renovation Council approached me in 2009 and asked me to bid for a renovation magazine publication.

Renovating 48

Renovating Bidding Legal Profitability 48

Building Information Management

JANUARY 15, 2016

Any large build portfolio owner who doesn’t have the ability to strategically plan, construction cost estimate, review contractor bids, conduct mutual site walks, monitor construction project in a transparent and consistent manner, etc. is simply not doing their job.

Management 40

Management Renovating Cash Flow Life Cycle 40

Construction Business Owner

NOVEMBER 3, 2011

In addition to providing critical insight to a bid, tender or proposal, the theoretical “buy-in” to the process from the field manager is invaluable. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->. John Chaney. leadership. Management. Mark Reich. productivity. project collaboration. project management.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

DECEMBER 9, 2011

In fact, project managers should worry about implementing more safe practices because it can affect the way they bid on jobs. Lower insurance costs mean project managers can submit more competitive bids on a job because they are no longer worried about higher employee costs-a win-win all around! John Chaney. leadership. Management.

Construction 136

Construction Insurance Software Software 136

Construction Business Owner

NOVEMBER 17, 2011

With the number of companies bidding on each job increasing and the margins getting smaller, it is imperative that you know the true health of you fleet. This in turn lets the estimators use equipment rates that are spot on when estimating forthcoming work, which helps to get new work, and bring that work in profitably. John Chaney.

Construction 136

Construction Software Software Equipment 136

cnstrctr

JANUARY 4, 2020

It is a legally binding document that the groups agree to at the start of a project and are held accountable to throughout. The owner performs a detailed analysis on the bids verifying that the proposals meet the requirements of the project and awards based on that. The contract can take many forms and formats.

Contract 88

Contract Construction Finance Documentation 88

Building Information Management

APRIL 10, 2015

What’s Wrong with Design Bid Build? Traditional design-bid-build,DBB, is costly, antagonistic, and simply inefficient. A Job Order Contracting (JOC) system is based on a competitively bid indefinite delivery-indefinite quantity (IDIQ) contract between a facility owner and a construction contractor. JOC Fundamentals.

Contract 40

Contract Renovating Bidding Construction 40

Construction Business Owner

JANUARY 26, 2012

Venture helps you manage your contacts using construction specific criteria, invite potential partners to bid on work, and even prequalify subcontractors, so you create the best team for the job. Home Contact Us About Us Subscribe Advertise Legal Disclaimer Site Map -->. Project Communication. John Chaney. leadership. Management.

Construction 120

Construction Software Software Documentation 120