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. Solid Management Processes.

Profitability 98

Profitability Contractors Management Contract 98

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

Construction Business Owner

MAY 16, 2023

These estimates provide management with a foundation to effectively interpret costs, profitability and bid processes. 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.

Accounting 156

Accounting Estimating Finance Bidding 156

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

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 246

Bidding Profitability Documentation Construction 246

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. Many clients, especially in the public sector, tend to award contracts to the lowest.

Profitability 84

Profitability Bidding Construction Contract 84

Viewpoint Construction Technology

AUGUST 29, 2018

So, taking proper care of heavy iron the machines is key to bringing in projects on time and maximizing profitability. Owning vs Operating: Maximizing Construction Equipment Productivity and Profitability. So, how can contractors achieve optimal equipment management?

Equipment 174

Equipment Management Profitability Contractors 174

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

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. As we know, construction is very cyclical.

Profitability 52

Profitability Construction Innovation BIM 52

Construction Law

JUNE 28, 2022

The CMA says that bids were being rigged through firms agreeing to submit tenders that were designed to lose. This made the winning bid, which might well have also been higher than it otherwise might have been, look acceptable.

Bidding 52

Bidding Compensation Contract Office 52

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

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

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. For Owners following “best management practices” specialized JOC specifications are NOT used. Typically, how many general contractors are invited to bid on a JOC project? Learn more… 1.

Bidding 100

Bidding Contract Contractors Electrical 100

Lets Build

FEBRUARY 3, 2023

Managing costs, removing waste, and increasing productivity should be top priorities for organisations wanting to overcome rising costs due to construction inflation. Prioritise value over competition One mistake project owners and procurement teams often make is prioritising bidding price over value.

Construction 148

Construction Materials Risk Management 148

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. This adds up to smarter, safer projects that are ultimately more profitable. The hiring and HR management processes can prove a difficult endeavor. But they also know that working smart helps limit issues.

Contractors 287

Contractors Software Software Accidents 287

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

Construction Cost Estimating

APRIL 3, 2017

The software can handle the whole project lifecycle from bid to project completion by providing all-in-one solution for estimating, project management, and accounting. ProContractor is a useful construction software developed by Viewpoint. ProContractor is operated through the cloud with the viewport’s partner CloudJumper.

Estimating 40

Estimating Project Management Bidding Management 40

HardHatChat

FEBRUARY 14, 2024

However, it has been worth the effort to develop a thorough vetting process and understanding of what works best for our clients and the type of projects we manage. Our project management system, Procore, allows us to classify subcontractors by category and rate their performance through internal analysis.

Commercial 295

Commercial Construction Schedule US 295

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. But just in case you need a refresher on the purpose KPIs serves, here is how the Construction Financial Management Association (CFMA) defines them. Key Takeaways. Measure Now.

Profitability 52

Profitability Products CFMA Construction 52

Pro Builder

JUNE 6, 2022

15 Management Systems to Help You Avoid the High-Speed Wobbles. But with that rapid growth come what I call “high-speed wobbles”—unsteadiness caused by lack of the management processes and systems needed to keep pace. Mon, 06/06/2022 - 07:00. Chuck Shinn. . Rising From the Ashes of the Great Recession.

Management 52

Management Cash Flow Profitability Schedule 52

Lets Build

AUGUST 4, 2023

To that end, project managers need to invest in the right construction project execution software to oversee the entire phase, track progress, and coordinate teams. Real-time communication Communication between teams and workers is essential, and the software allows project managers to centralise all project communications.

Software 78

Software Software Construction Budgeting 78

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

Constructonomics

OCTOBER 17, 2013

If you just glanced at it, you may think it reads, “How To Get Construction Management Work” But of course this is not the case. It reads, “How Do You Get Construction Management Work?”… Anyway, let’s collaborate about how to get construction management work.

Management 174

Management Construction Bidding Profitability 174

Lets Build

AUGUST 4, 2023

To that end, project managers need to invest in the right construction project execution software to oversee the entire phase, track progress, and coordinate teams. Real-time communication Communication between teams and workers is essential, and the software allows project managers to centralise all project communications.

Software 78

Software Software Construction Budgeting 78

Fieldwire

MARCH 5, 2024

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. before taxes.

Budgeting 52

Budgeting Budget Estimating Bidding 52

Job Order Contracting

MAY 3, 2020

Strategic alignment (links between operational performance and strategic factors), and profitability/cost control and/or resource maximization are initial area of focus and should be regularly monitored.

Procurement 151

Procurement Plans Construction BIM 151

Construction Business Owner

AUGUST 25, 2022

Estimating is the backbone of a construction project, and it’s essential to get it right to win bids. STACK also offers the ability to create multiple estimates per project for alternate bids. When you have calculated your selling price and profit, you’ll be able to create a custom, professional proposal within STACK.

Estimating 296

Estimating Overhead Software Software 296

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

Autodesk Construction Cloud

JUNE 20, 2022

And done inaccurately, you risk losing the bid, or worse, profits. . Thankfully cloud-based software solutions enable teams to create more competitive bids with accurate estimates faster. Moreover, you can ensure that you see more profits from any given project by including all costs correctly. . Ease of use .

Estimating 105

Estimating Software Software Bidding 105

Construction Business Owner

APRIL 5, 2021

For example, if each clash costs $3,500 per instance (PWC, 2018), it’s difficult for estimators and project managers to ensure each project is profitable during the planning phases of a project. The MacLeamy curve. Autodesk Construction Cloud’s CDE empowers teams to remain on the same page when planning and forecasting a project.

Modeling 234

Modeling Environment Autodesk BIM 234

Autodesk Construction Cloud

MAY 23, 2022

With rising material costs and razor-thin margins, construction professionals must ensure that project costs and materials are precisely estimated so they can make accurate projections and optimize their bids. . Accurate construction takeoffs and quantification lead to more profitable projects.

Estimating 105

Estimating Autodesk Documentation Bidding 105

Viewpoint Construction Technology

SEPTEMBER 12, 2012

From estimating and project management practices to compensation and business management, contractors are finding a “new normal” in every aspect of their business. I hear stories from clients about how aggressive the bidding environment has become, with more and more contractors bidding for each job and many bidding at a loss.

Estimating 193

Estimating Compensation Bidding Construction 193

Pro Builder

APRIL 9, 2023

Managing With Data (or How to Get Your Processes to Talk to You) ibush Sun, 04/09/2023 - 09:00 To improve their margins, home builders need good data. It's time to change that Scott Sedam, Contributing Editor On a cold winter day, I was riding with Mike, construction manager for the Midwest division of a top national builder.

Management 52

Management Bidding Site Schedule 52

Viewpoint Construction Technology

OCTOBER 25, 2017

Whether you’re an owner, executive, project manager, or job supervisor, it’s important to know what’s happening in your business and how you stand next to the competition. When profit margins are thin, it doesn’t take much to wipe out a project’s financial benefits. Risk management.

Risk 209

Risk Schedule Profitability Viewpoint 209

Construction Enquirer

JULY 19, 2023

In a year-end trading statement, Kier said it had also managed to keep the order book above £10bn, with 85% of next year’s forecast revenue already secured. Andrew Davies, chief executive, said that despite inflationary pressures Kier would report revenue and profit in line with expectations in September. ”

Debt 47

Debt Cash Flow Profitability Forecasting 47

Job Order Contracting

FEBRUARY 24, 2018

Here’s a listing of what is typically included in a construction contractor’s Job Order Contract coefficient… Contractor’s overhead and profit. Subcontractors’ overhead and profit. Project management and supervision. Office management and equipment. Employee payroll taxes, insurance, and fringe benefits.

Overhead 100

Overhead Permits Insurance Contract 100

Viewpoint Construction Technology

APRIL 24, 2019

Business intelligence in its simplest terms is the gathering of data — largely produced through construction management and project management software — and sorting and analyzing it to make intelligent business decisions. Soule are using BI technology to dramatically improve productivity and profitability.

Construction 184

Construction Software Software Contractors 184