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The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses

Levelset

“A low-bid strategy causes death by a thousand cuts to a project’s budget.”. Change orders inevitably increase costs , and schedule delays eat into the project’s budget. A low-bid strategy causes death by a thousand cuts to a project’s budget, and it’s totally avoidable if you adopt a more collaborative mindset.

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Data Analytics Trends in Construction

Viewpoint Construction Technology

And true data analytics is more than just tracking traditional job costs and cash flow. Reducing Risk and Increasing Safety. But going a step further and analyzing data that can help you identify high-risk tasks and dangerous conditions can help prevent future incidents and reduce risk for your business.

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Building Strong Starts: Protecting Profit Margins Through Effective Preconstruction

Autodesk Construction Cloud

Because preconstruction offers the biggest opportunity to de-risk a project. Many things can happen during this period, and project teams often face complications like design creep and price increases, which negatively impact budgets and schedules. The preconstruction stage also allows you to simulate the job before executing it.

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9 Tips for Starting an Architecture Firm

Levelset

It can be scary just to think about the amount of work and the risks involved. You have to think about potential revenue sources, budget for costs, and project how your company will grow in the future. Pay close attention to cash flow. Learn more: An architect’s guide to cash flow. Write a business plan.

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5 Reasons to Use Mechanical Contractor Software

Pro Builder

Since mechanical activities at the construction site need extensive run-through drawing and design data, the technology could be used to process, and store 3D models and information related to activities. . 4) Budgeting & Finances. 2) Time & Productivity Management. 5) Material Planning & Document Management.

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40+ Fresh Product Releases You Should Know in January

Autodesk Construction Cloud

Cost Management | Cash Flow Consolidated View* – Within the Cash Flow view, distribution modifications can be made in a new sub-table view, allowing users to see the context of the other distribution items while making adjustments.

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Why Projects Fail

Job Order Contracting

85%+of all projects are over budget (just 31% of all projects came within 10% of the budget in the past 3 years – KPMG) 52% of rework is caused by poor project data and miscommunication (2018 Industry Report – Construction Disconnected, FMI). 40-50% work is either rework or not “value-added work.” CHANGE MANAGEMENT.