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8 essential steps for effective project cost estimation and budgeting

Fieldwire

Estimating project costs correctly and managing the budget accordingly are just as vital. All subcontractors make project cost estimation and budgeting errors. Follow these eight essential steps to estimate project costs and budget funds effectively to prevent grave miscalculations. Quality must take priority over price.

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Trending: The Rise of Prefab and Modular Commercial Construction Techniques

HardHatChat

can have a positive impact on a construction project’s schedule and budget. Union Considerations: As prefabricated elements and modular components become more sophisticated and more commonplace, will the shops where they are manufactured be unionized?

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How to Avoid a Commercial Construction Scandal

HardHatChat

Pursuing those jobs meant we would have had to use shoddy subcontractors or non-union labor where union labor would have been best. And if you’re not in a union town, like Miami, then align yourself with the best vendors. And yet, when we work in union markets like Chicago, Boston, New York and St.

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Owners, Contractors, Unions Team to Boost Recruits in Chicago Construction

ENR Construction

million budget next year to assist in craft and entrepreneurial skillbuilding. Effort has a $1.7-million

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Dangers Lurk in Union of Construction, Emerging Technology

ENR Construction

As the current pipeline of infrastructure projects becomes larger and ever more complex, contractors are making increasingly risky bets that projects will be delivered on time and on budget. In the last year alone, we've witnessed two global contractors either file for creditor protection or go into liquidation.

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Commercial Construction Highs and Lows of 2011

HardHatChat

In fact, our commercial construction budget work was back to 2008 levels. LOW – One thing we saw this year in Chicago as well as other union markets, is that retailers and developers said they didn’t care if their project was built with union labor; they just wanted the best price.

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Project Labor Agreements (PLAs): What Contractors Need to Know

Levelset

This means contractors working on eligible projects should expect to pay more in labor and benefits and may have to enroll their workers with a union, even if they’re an open shop. It basically guarantees that the project it applies to will use union labor. There is considerable debate between the opponents and proponents of PLAs.