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3 construction industry trends in 2023

Lets Build

The same issues plaguing the industry last year—labour shortages, supply chain disruptions, high material costs, lower profit margins, etc.—followed 2023 also brings more unpredictability for company execs and project managers, making managing schedules, budgets, and timelines challenging. followed us into 2023.

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Are You Still Using Spreadsheets for Project Management?

Viewpoint Construction Technology

To keep things organized, most contractors use technology in some capacity to facilitate day-to-day workflows for project management , scheduling, accounting , estimating and more. For project management specifically, 46.1 Other project management software (28%). The results: Excel (72%). Email (44%).

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The Secret Sauce to Protecting Construction Profits  

Autodesk Construction Cloud

While incredibly rewarding, the construction industry is a challenging sector to work in for cost-focused business and project executives. By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. Decisions made using “bad data” are estimated to cost the industry $88.69

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Subcontractor Solutions for Higher Profits

Viewpoint Construction Technology

Construction software has been instrumental in changing the face of the construction industry. While strides are being made to be more connected from the first step of a project, the past 20 years of productivity in the global construction market have only improved 1 per cent year over year.

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The most important construction KPIs to improve profits and productivity

Lets Build

If they all revolve around your financials, you might be shrinking your own profit margins. Your construction KPIs should do more than measure a project’s health—they should show you where profit and productivity are dropping, why they’re dropping, and how to fix the issue. What mistakes were made on the less profitable jobs?

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The most important construction KPIs to improve profits and productivity

Lets Build

If they all revolve around your financials, you might be shrinking your own profit margins. Your construction KPIs should do more than measure a project’s health—they should show you where profit and productivity are dropping, why they’re dropping, and how to fix the issue. What mistakes were made on the less profitable jobs?

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Seven Traits of Profitable Specialty Contractors

Fieldwire

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.