FDR Safety

NOVEMBER 16, 2020

In addition, your new boss, is also new to their position of COO and has come from finance. You are walking the floor with a plant manager and you both observe a worker or contractor not following a work instruction and they say back to you what is the big deal nothing happened! The Challenges You Now Face.

Safety 266

Safety Risk Deals Inventory 266

Construction Law

JUNE 3, 2024

Analysis Avoiding Investor Pitfalls in Complex Construction Financing Arrangements Construction constantly becomes more complex, in engineering and organisation and legal aspects. Lawrence Winsor of Vinson & Elkins’ New York office says project financing is increasing in complexity as well. Insolvency Step Forward Step in Rights?

Insurance 52

Insurance Construction Legal Drafting 52

Pro Builder

APRIL 19, 2021

5 Reasons to Use Mechanical Contractor Software. Construction software technology has not only helped general contractors but assisted trade contractors to provide their vital services and bring projects to completion. The same is true for mechanical contractors. 4) Budgeting & Finances. Mon, 04/19/2021 - 06:00.

Software 52

Software Software Contractors Change Orders 52

Construction Marketing

AUGUST 3, 2022

The goal of every construction project management is to complete the project, and the balancing of resources, finances, time, and feasibility plays a crucial role in its completion. . They can choose to either put up a bid or let general contractors bid to build the project. This process is called a design, bid, and build contract.

Project Management 236

Project Management Management Construction Feasibility 236

Viewpoint Construction Technology

NOVEMBER 6, 2018

The reasons most often cited for dated information are lack of access to this data at the right time, query driven reporting and a reliance on accounting/finance for information. These modern construction software solutions are helping contractors transform their operations in today’s digital age.

Project Management 211

Project Management Management Viewpoint Software 211

Levelset

MARCH 21, 2022

Restoration contractors can spend a lot of time waiting for payment. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Finance job costs for longer payment cycles.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Levelset

JULY 21, 2022

In order to perform construction work, many states require contractors to be “licensed and bonded.” Well, every state sets its own rules for contractor licensing, and contractors often must purchase a surety bond in order to legally practice their trade. Learn more: The complete guide to contractor licensing state-by-state.

Contractors 52

Contractors Claims Oregon Residential 52

Construction Marketing

FEBRUARY 17, 2022

A construction loan is high-interest, short-term financing that you can use to custom-build your home. Upon approval, the money is sent to the contractor in intervals as the construction work progresses. If the appraisers approve, the lender makes more draw payments to the contractor. What to consider about construction loans.

Construction 274

Construction Budgeting Budget Drawings 274

Best Practices Construction Law

JUNE 15, 2022

when you are going to get paid…”Contractor shall pay Subcontractor within 15 days after receipt of payment from the Owner.”); pay if paid is a function of whether you get paid (i.e., shifting the risk of nonpayment … “Payment from the Owner to the Contractor is a condition precedent to payment from the Contractor to the Subcontractor.”).

Virginia 118

Virginia Contract Lien Construction 118

ENR Construction

MARCH 25, 2020

Insurance and risk-control leaders on the best moves for this phase of the emergency.

Finance 36

Finance Insurance Contractors Risk 36

Contractor Bookkeeping

MAY 31, 2024

It drives intelligent decision-making, minimizes risks, and ensures the revenue health of projects. In the ever-evolving world of construction, financial modeling is a game-changer. Crafting precise and insightful financial models is a valuable tool for construction companies.

Modeling 109

Modeling Cash Flow Industrial Construction 109

ENR Construction

JULY 22, 2012

Contractors Should Beware of Recovery Risks. Description: Contractors face recovery risk when they take on too much work after they’ve depleted their staff, cash and other resources. Risk management. Specialty contractor innovation. BONUS: ENR Future Tech & ENR Risk Review at no additional charge.

Risk 48

Risk Engineering Contractors FAQ 48

Construction Law

DECEMBER 2, 2022

ICE’s report says accurate emissions reporting must become integral in the design of major infrastructure if private finance is to help fund green projects. Projects may also risk litigation for failing to mitigate the release of carbon in their design, construction and operation.

Claims 52

Claims Risk Infrastructure Finance 52

Wolgast Corporation

APRIL 25, 2022

This new building can be built to suit your operational needs rather than trying to fit your operation into an existing floor plan, and with limited risk to your business. The developer reviews the business owner/lessee’s business financials and determines that he or she is a qualified candidate to take on the risk of building their building.

Leases 62

Leases Risk Finance Negotiation 62

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. And they are – but so are the contractors who will actually build the project. Contractors build them. Inviting contractors to share value.

Bidding 98

Bidding Cash Flow Contractors Procurement 98

Contractor Bookkeeping

AUGUST 6, 2014

They work hard to find people and businesses and contractors that are good credit risks they can loan money too and get paid back in a timely fashion, with all of the interest due to them. Just like house builders love chatting with sub-contractors and building material suppliers because you all speak the same language.

Finance 48

Finance Accounting Construction Banking 48

Levelset

MAY 2, 2022

Contractors trying to grow their business and take on larger projects often struggle to manage their cash flow to purchase the materials they need. Many contractors use trade credit to delay paying for materials and keep more cash in their pockets. If you are a subcontractor, you can review your general contractor’s payment activity.

Negotiation 52

Negotiation Materials Cash Flow Finance 52

Construction Marketing

FEBRUARY 14, 2022

Additionally, each delay inevitably drains finances and your company’s image. Consider Hiring A Professional Site Services Contractor. Hiring a professional site services contractor can help you keep your focus on other aspects of your business. However, construction inventory can run into a few specific challenges.

Inventory 277

Inventory Management Site Construction 277

Job Order Contracting

DECEMBER 20, 2017

The items to be considered when a contractor creates a JOC coefficient vary according to the specific JOC Program. The following is a list of items that are generally considered when a contractor is developing a JOC coefficient. A JOC coefficient is a factor, typically ranging from 0.80

Contract 100

Contract Overhead Insurance Profitability 100

Jobsite with Procore

JUNE 28, 2022

Every construction project involves risk, and managing that risk while protecting a company’s profit margins, reputation, and people is just one of a CFO’s many responsibilities. Here, CFO Ken Blakeley breaks down his approach to risk and navigating the unexpected.

Risk 92

Risk Profitability Management Construction 92

Autodesk Construction Cloud

JULY 13, 2023

” This quote primarily relates to personal finance, but his advice also rings true in the construction industry. As a general contractor, you can start thinking, “Okay, how can we put some of this work back into our own guys?” Recognize that risks are part of the territory Reducing risk starts by recognizing it.

Profitability 98

Profitability Risk Construction Autodesk 98

Levelset

OCTOBER 13, 2022

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A COI provides evidence of in-force specialty contractor’s insurance. What information is included in a COI?

Insurance 52

Insurance Certification Contractors Liability 52

Viewpoint Construction Technology

APRIL 17, 2018

Contractors today deal with challenging projects, often with multiple performance obligations. When implemented properly, they offer improved cash flow and better accounting insight, which benefits contractors and customers. New revenue recognition standards will require contractors to adjust accounting practices.

Accounting 223

Accounting Contract Viewpoint Cash Flow 223

Wolgast Corporation

FEBRUARY 8, 2022

When it comes to a property search, it’s obvious that you would get your realtor involved, but have you considered having your Design/Build contractor with you? The contractor’s evaluation will likely save time and money, or provide good recommendations for a building that doesn’t initially present itself as suitable.

Commercial 62

Commercial Remodeling Finance Permits 62

Best Practices Construction Law

NOVEMBER 21, 2019

As you may be aware, one of the greatest risks on a construction project involves the payment process. Just like my kids expect to be paid for the lemonade they sell, contractors and subcontractors expect to be paid on a timely basis once the work has been performed. Courts across the country vary in their treatment of these issues.

Contract 77

Contract Subcontracting Drafting Virginia 77

Lets Build

APRIL 15, 2020

Additionally, the basics and essentials of budgeting, finance, organisation, scheduling, conflicts, and legal issues are also covered by the project manager. Construction project management is not one thing — a project manager in construction has to be knowledgeable in finance, mediation, law, and other disciplines. The process.

Project Management 148

Project Management Management Construction Feasibility 148

Job Order Contracting

JANUARY 31, 2022

Identify and determine strategies for addressing risks and opportunities related to the. Integrate achieving asset management objectives into other organizational-planning activities including finances, human resources, and other support functions. Developing support. Performance evaluation.

Organization 229

Organization Documentation Management Plans 229

cnstrctr

JANUARY 4, 2020

As not every project is the same, there are various types of contracts between the owner and contractor which depending upon which is chosen can change your responsibilities drastically. Under a lump sum contract the consultants are typically engaged by the owner and the contractor falls under a separate contract with the owner.

Contract 88

Contract Construction Finance Documentation 88

Levelset

MAY 23, 2022

How individual specialty contractors handle these costs vary, but as the saying goes, “Cash is king.” Getting paid in a timely manner is another challenge for specialty contractors since the average payment collection time for the construction industry is around 90 days. Use materials financing to have more cash on hand.

Cash Flow 59

Cash Flow Lien Accounting Construction 59

Viewpoint Construction Technology

JULY 3, 2018

If you’re a contractor still using too many manual processes or having to do even more work because of outdated technologies, that last item might be foremost on your mind, and it might be time for a change. Contractors commonly complain of inadequate cost control, disconnected billing systems, inefficient approval workflows and more.

Software 217

Software Software Construction Mobility 217

Levelset

JULY 25, 2022

Because payment for construction jobs may be weeks or months after work is already completed, companies must manage their finances carefully to maintain cash reserves for taking on new jobs. In certain situations, a company’s best option is to employ debt capital to finance certain expenditures, which helps keep working capital intact.

Debt 97

Debt Cash Flow Equity Finance 97

Construction Law

MARCH 2, 2022

Just when you might have been excused for imagining that the discredited Private Finance Initiative (PFI) was dead as a construction procurement route, up it pops again. The failure of this scheme has possibly permanently tarred PFI in the minds of at least some contractors and funders.

Finance 52

Finance Transportation Commercial Infrastructure 52

Autodesk Construction Cloud

FEBRUARY 25, 2022

Evaluating a subcontractor’s health before awarding work has become more important than ever for general contractors. For another, work delays from 2021 are likely to impact the risk of subcontractor default in 2022 and beyond. . It can be used to determine the proportion of a company’s assets that are financed by debt.

Safety 94

Safety Debt Liability Equity 94

Fieldwire

AUGUST 6, 2023

Patrick is the CEO at Handle.com which builds software that helps contractors, subcontractors, and material suppliers secure their lien rights and get paid faster. Scheduling conflicts and missed deadlines can lead to contractors inadvertently cutting corners in order to catch up.

Project Management 98

Project Management Management Construction Budgeting 98

Autodesk Construction Cloud

JULY 13, 2023

This quote primarily relates to personal finance, but his advice also rings true in the construction industry. As a general contractor, you can start thinking, "Okay, how can we put some of this work back into our own guys?" Recognize that risks are part of the territory Reducing risk starts by recognizing it.

Profitability 52

Profitability Risk Construction Autodesk 52

Constructonomics

OCTOBER 3, 2010

New contractors have a lot of matters to anticipate when entering the construction industry for the first time. Unfortunately, new contractors are often unfamiliar with the bonding process, which includes undergoing finance and credit checks, providing upfront collateral, and paying issuance fees. How construction bonds work.

Contractors 140

Contractors Regulation Insurance Claims 140

Construction Dive

FEBRUARY 9, 2017

In short, from the general contractor’s perspectives, GC’s feel they are not banks on hand to finance the project, and if the owner doesn’t pay them, they shouldn’t pay the contractor. Subcontractors, on the other hand, often are the ones taking the most risk and have the most out-of-pocket expenditures.

Banking 48

Banking Finance Risk Contract 48