Construction Dive

JANUARY 8, 2015

Estimating is the core function of all construction projects. Owners start with conceptual estimates when a project is first proposed. These estimated get refined as the project develops and ultimately, contractors and subcontractors will prepare detailed take-offs and estimates to prepare a bid or establish a budget.

Estimating 48

Estimating Risk Overhead Contractors 48

Construction Marketing Ideas

FEBRUARY 16, 2015

Tempest Company ‘s Oh, By the Way blog , started six years ago by Don Short, has provided invaluable tips and ideas for anyone concerned with the most important challenge in bidding fixed price jobs — getting the original estimate right. I am a bit old fashioned when it comes to estimating.

Estimating 48

Estimating IDEA Bidding Profitability 48

Job Order Contracting

APRIL 1, 2019

LEAN Construction Cost Estimating Drives Optimal Performance. LEAN construction cost estimating, procurement, and project delivery, drives optimal performance for the numerous repair, renovation, maintenance, sustainability, and new construction projects encountered by real property owners, facilities managers, and their service providers.

Estimating 100

Estimating Procurement Change Orders Renovating 100

Construction Cost Estimating

APRIL 28, 2014

The foundation for a successful estimate depends on authentic takeoff of the quantities of the various materials involved in the project. The various elements that lead to an effective cost estimate are as: Labor Hours : Labor hour amounts can be prepared by crew analysis or applied on a unit man-hour basis.

Estimating 45

Estimating Equipment Bidding Profitability 45

Construction Business Owner

APRIL 26, 2012

Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. Just about every contractor has been there — a project starts out strong but, as it moves forward, delays and incidental added work and changes knock dollars and cents off of the bottom line. Stay on Top of Changes.

Change Orders 120

Change Orders Construction Profitability Software 120

Lets Build

FEBRUARY 3, 2023

Free eBook: Quick guide to Lean practices for construction professionals 7 ways to minimise the impacts of construction inflation As inflation continues to affect the construction industry worldwide, we must find ways to counteract it or risk losing our already slim profit margins.

Construction 148

Construction Materials Risk Management 148

Construction Business Owner

OCTOBER 14, 2011

Some Advice on Change Orders » A Change (Order) for the Better? When clients ask me about change orders, I’m reminded of a well-circulated photo. The yacht is named “Change Order.” Discussion about change order difficulties tends to be one of two types.

Change Orders 120

Change Orders Construction Software Software 120

Viewpoint Construction Technology

APRIL 4, 2017

Consistent estimating. Web-based construction software can help you increase estimate accuracy and improve the profitability for the work you gain. Quick, accurate estimates can be a fast and efficient way to grow your business. Informed and successful project managers help ensure projects stay profitable.

Software 130

Software Software Construction Project Management 130

Job Order Contracting

APRIL 2, 2019

LEAN construction cost estimating, procurement, and project delivery jointly drive optimal, best value execution of the numerous repair, renovation, maintenance, sustainability, and new construction projects encountered by public sector real property owners, facilities managers, procurement professionals, and their service providers.

Estimating 100

Estimating Procurement Change Orders Comparison 100

Contractor Bookkeeping

JUNE 19, 2013

We are happy to be able to offer free Invoice templates, free Change Order templates and free estimate templates to construction contractors and other business owners to help them grow their sales and profits and have better lives for their families. Change Orders are a huge source of new profit.

Profitability 49

Profitability Cash Flow Accounting Construction 49

Levelset

MARCH 11, 2022

And any savings on paper are usually lost mid-way through the project in change orders. In addition, they make less per project and ultimately end up with too little profit, if any, to grow. Change orders inevitably increase costs , and schedule delays eat into the project’s budget. And guess what?

Bidding 98

Bidding Cash Flow Contractors Procurement 98

Building Information Management

MAY 3, 2012

While accurate, timely, and transparent cost estimating is critical to the success of any renovation, repair, sustainability, or new construction project, most construction cost estimators (over 55%) continue to rely primarily upon manual methods, hard copy documents, or electronic spreadsheets such as Microsoft Excel.

Estimating 40

Estimating Software Software Construction 40

Contractor Bookkeeping

JUNE 21, 2012

The Most Popular Method - Designed by investors and developers and shrewd business people who understand the concept of divide and conquer is for contractors to get little or no down payment for a construction project, do all the work, including change orders and then try to collect their money.

Profitability 48

Profitability Contractors Banking Change Orders 48

Job Order Contracting

NOVEMBER 17, 2020

If a UPB is properly created it consists of “bare costs” only (no contractor overhead or profit). The UPB reflects Contractors bid an adjustment factor (coefficient) that is applied to all construction tasks listed in the UPB. Thus, coefficient typically range from 1.10 for normal work hours. may also be required. .

Contract 130

Contract Bidding Procurement CSI 130

Construction Business Owner

APRIL 1, 2011

Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs.

Cash Flow 120

Cash Flow Construction Software Software 120

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. Inaccurate Project Estimates. Estimating the project accurately can even be started in the RFP process. Not Planning for Change Orders.

Budgeting 52

Budgeting Budget Construction Software 52

Autodesk Construction Cloud

JULY 8, 2021

Firms can analyze these costs to improve future estimating, budgeting, and forecasting on similar projects. . While there are many benefits to using cost codes, the majority of them lie in standardization, cost control , analysis, and profitability. . Profitability . Standardization . However, standardization is important.

Construction 52

Construction Profitability Budgeting Budget 52

Job Order Contracting

FEBRUARY 20, 2018

The 4BT-CE(TM) JOC cloud estimating and project management system, or equivalent, shall also be used. Job Order (JO) A Job Order (JO) is the contractual instrument issued by ORGANIZATION NAME designated Representative to the Contractor. The total estimate for a JO is multiplied by by the contractor’s coefficient.

Contract 100

Contract Organization Change Orders Overhead 100

Viewpoint Construction Technology

SEPTEMBER 11, 2018

This lack of effective communication and collaboration can be the downfall of a business, especially in the construction industry, where tight deadlines and razor-thin profit margins rule the day. Anyone who needs to see updated data, or process items like RFIs and change orders in the field can easily do so.

Project Management 133

Project Management Construction Budgeting Budget 133

Pro Builder

JULY 20, 2021

Not if You Follow These 8 Steps to Make Trades Profitable. . I always tell my clients to estimate a later completion date than what they think it will actually be. Escalation Clauses in Your Contracts: Yay or Nay? Close Relations: Ways Builders Can Work Well With Trades. Labor Woes? Contract Essentials for Building Trade Contractors.

Contractors 98

Contractors Contract Legal Change Orders 98

Construction Business Owner

NOVEMBER 3, 2011

Being the Best » The New Estimating Tool – Superintendents. Estimating departments have added a new tool to their repertoire – superintendent and foremen input. With backlogs down and work less plentiful, field supervision has come into the office and become an integral part of the estimating process. change orders.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

NOVEMBER 3, 2011

The New Estimating Tool – Superintendents » So You Want to Buy New Construction Software. If you’ve ever spent more than a few minutes searching for approved change orders or time cards, you’ll quickly realize the advantages of this type of system. change orders. Construction Business Owner Magazine.

Cash Flow 120

Cash Flow Construction Software Software 120

Autodesk Construction Cloud

OCTOBER 19, 2022

The introduction of BIM, cloud based takeoff tools, AI, and bidding platforms have all shaken up the way estimating and preconstruction management operates. . For instance, adding Takeoff to the project improved productivity of estimates by around 50%. Reduced Risk & Improved Productivity on CAHSR using BUILD and Takeoff.

Autodesk 52

Autodesk Construction Estimating Boston 52

Construction Marketing

DECEMBER 19, 2019

Managing a reputation for delivering high-quality projects, keeping your business profitable, your people productive, and your firm growing requires focus, commitment, and understanding. Running a successful construction firm is by no means an easy task. Though there are many things you need to focus on.

Software 200

Software Software Construction ProCore 200

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

Contractor Bookkeeping

JUNE 7, 2013

Free Construction Estimate Template. Free Construction Change Order Template. Would it be profitable or would something terrible happen to cause us to go bankrupt? Free One Hour Consultation. Free Construction Invoice Template. Free Time Card Templates. Free Notary Services. Free Cash Flow Diagram For Contractors.

Cash Flow 49

Cash Flow Contractors Spirit Change Orders 49

Construction Business Owner

FEBRUARY 2, 2012

When evaluating estimators, he says, “Business owners should not base estimating success simply on jobs awarded. In the end, jobs must translate to bottom-line profitability.” change orders. January 2009. December 2008. November 2008. October 2008. September 2008. August 2008. Tags accounting. accounting software.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JULY 5, 2011

However, estimates show in order to properly maintain the current system and expand it to meet future needs, we need to invest $225 to $340 billion annually.”. AEM estimates that 35,000 jobs—many of which are in construction— are created every time $1 billion is invested in our infrastructure. change orders.

Construction 120

Construction Software Software Accounting 120

Contractor Bookkeeping

JULY 28, 2014

Change Orders and Related Payments. Project Baseline, Changes and Payments To Report? Change Orders and Related Payments. Project Baseline, Changes and Payments To Report? When a construction project grows beyond two invoices, and you add job deposits and change orders the process gets real tricky.

Contractors 49

Contractors Change Orders Accounting Cash Flow 49

Autodesk Construction Cloud

FEBRUARY 1, 2022

While a project’s ultimate goal is a successful completion, the steps it takes to get there are critical to profits and project’s life cycle. During this process, consider how much wiggle room is available for change orders, most likely an inevitable occurrence once a project is underway and can be costly if not well planned.

Risk 52

Risk Schedule Design Budgeting 52

NH Construction Law

APRIL 26, 2018

Sometimes this unanticipated time/space compression is the owner’s fault, in which case the general contractor/construction manager and its subcontractors will likely be entitled to increased compensation by change order or otherwise -- and to a mechanic’s lien if that increase is not paid. But how is that sum calculated?

Lien 40

Lien Compensation Change Orders Subcontracting 40

Construction Business Owner

OCTOBER 10, 2011

What I heard is that finding the right person for an estimator and a project manager is crucial to success. In the meantime, what do you think makes a strong PM or estimator and how do you hire A players? change orders. Through our discussions, we shared ideas about what the profile of such an employee might be.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

NOVEMBER 8, 2011

« The New Estimating Tool – Superintendents. change orders. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs. I read a lot. January 2009. December 2008. November 2008.

Construction 174

Construction Software Software Accounting 174

Building Information Management

NOVEMBER 6, 2013

Advantages of Job Order Contracting – JOC – for OWNERS. fewer change orders, increased response to warranty issues, virtually no legal disputes. Advantages of Job Order Contracting – JOC – for CONTRACTOR. Don’t bid contractors against each other at the delivery order level.

Contract 40

Contract Bidding United States Estimating 40

Construction Business Owner

NOVEMBER 17, 2011

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. change orders. A combination of smart data collection and the right construction software can help tremendously with this process. January 2009.

Construction 136

Construction Software Software Equipment 136

Construction Business Owner

APRIL 21, 2011

Or maybe your accounting is solid, but your estimating is done using spreadsheets and it’s time to look into a trade-specific estimating program. change orders. For example, maybe the first step for your business is switching from a completely manual or general accounting program to one focused just on construction.

Construction 136

Construction Software Software Accounting 136

Building Information Management

NOVEMBER 19, 2015

Average project timeline. %/#/$ Change orders. are: shorter procurement times, fewer change orders, virtual elimination of legal disputes, and more projects completed on-time and on-budget. Virtual elimination of legal disputes, claims and change orders. Reasonable profit. “It Reduced risk.

Construction 40

Construction Change Orders Procurement Legal 40