Autodesk Construction Cloud

JULY 13, 2023

While bringing in large projects and generating revenue is essential, it's equally important to manage profit effectively and ensure healthy margins. And while profit margins in construction are notoriously tight (4-6%), there are steps you can take to increase your profitability without compromising the quality of your work.

Profitability 52

Profitability Risk Construction Autodesk 52

Green Building Law Update

APRIL 4, 2021

The financial value of green buildings is well documented, from commanding higher rents, greater occupancy rates, and increased occupant satisfaction, to lower operating costs for everything from reduced insurance premiums and less energy utilized, easily resulting in an increased return on investment of more than 9% over conventional building.

Green 293

Green Debt Security Commercial 293

Contractor Connection

NOVEMBER 13, 2023

Temporary housing is a critical, yet often underappreciated, facet of the insurance and property management industries. It’s not just about a temporary place to stay; it’s about delivering a comprehensive, insurance-friendly solution. This establishes a steady stream of business and strengthens their presence in the market.

Housing 40

Housing Insurance Security Bidding 40

Levelset

APRIL 15, 2022

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs. Setting up an AOB.

Insurance 52

Insurance Contractors Lien Claims 52

Levelset

APRIL 1, 2022

Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. Luckily, there are insurance policies that will replace the cost of the stolen goods, such as builders risk insurance. Insurance claims. Impact of construction site theft. Schedule delays. Eventually.

Site 52

Site Cash Flow Insurance Construction 52

Contractor Bookkeeping

OCTOBER 4, 2013

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. Starting Or Re-Starting A Construction Company Is Easy.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Chianelli Estimating

AUGUST 6, 2020

There will be less project opportunities because owner’s budgets may become unaffordable for the planned project. The result is higher costs to complete projects.Other considerations will be the impact it will have on OSHA standards and Insurance Company costs. Insurances; Workers compensation, General Liability, Risk.

Estimating 60

Estimating Residential Insurance Commercial 60

Construction Business Owner

APRIL 26, 2012

INSURANCE |. Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” The profit you calculate when bidding a job can fluctuate dramatically as work progresses. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |.

Change Orders 120

Change Orders Construction Profitability Software 120

Construction Cost Estimating

MAY 13, 2014

In order to make exact estimate for your work as well as profitability, it is essential to determine your labor costs. Here, the total projected cost is then highlighted with a prearranged factor hence the selling price also includes your overhead and planned profit.

Estimating 45

Estimating Compensation Income Insurance 45

Job Order Contracting

FEBRUARY 20, 2023

But that’s not all, the DoD doesn’t leverage current system thinking and robust, integrated planning, procurement, and project delivery workflows to maximize utilization of resource. JOC unit prices include direct material, labor and equipment costs, but not indirect costs or profits which are addressed in the coefficient(s).

Contract 227

Contract Office Negotiation Documentation 227

Viewpoint Construction Technology

JUNE 3, 2019

Sometimes there is little bearing on ongoing operations, but, depending on the nature of the conflict, these disputes can have serious ramifications which have the potential to cause brand damage, profitability issues or human resource issues. The more complex or confusing construction processes are, the bigger the changes of errors.

Risk 130

Risk Software Software Construction 130

Contractor Bookkeeping

JUNE 22, 2012

They are excellent at reviewing your Key Performance Indicators and advising on profit and growth opportunities. #2 A good commercial attorney will draw up employment agreements, construction contracts, review insurance policies and more. Eventually You Will Want - To leave your business and pursue other interests so plan ahead now.

Profitability 48

Profitability Contractors Accounting Banking 48

Construction Business Owner

OCTOBER 14, 2011

INSURANCE |. Yet it’s a surprisingly common practice for business owners to bid at losses, and when I ask them how they plan to come out in the black on the other side of these projects, the nearly universal answer is “We’ll make it up in change orders.” STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

Change Orders 120

Change Orders Construction Software Software 120

Safety Services Company

FEBRUARY 19, 2020

If you are new to the construction business, the information below should be enough to help you create a risk management plan. In construction, a good risk management plan is all about laying down good processes. In order to create an effective risk management plan, identifying possible threats to your operation is important.

Risk 62

Risk Management Construction Safety 62

Safety Services Company

FEBRUARY 18, 2020

If you are new to the construction business, the information below should be enough to help you create a risk management plan. . In construction, a good risk management plan is all about laying down good processes. In order to create an effective risk management plan, identifying possible threats to your operation is important.

Risk 62

Risk Management Construction Safety 62

Job Order Contracting

SEPTEMBER 29, 2017

(f) “Job order contractor” – a licensed, bonded, and general liability insured contractor awarded a job order contract. (g) h) “Plans and specifications” -the unit price book and the organization’s technical specifications. The prices shall not include overhead and profit.

Organization 100

Organization Contract Liability Contractors 100

PSMJ Resources

FEBRUARY 25, 2011

PSMJ’s Brand New 2011 A/E Bonus & Benefits survey reveals only 40% have plans Newton, MA – With competing day-to-day priorities and economic conditions that aren’t conducive to much long-term visibility, one would expect that a number of ownership plans are getting delayed or stretched out over long periods than originally anticipated.

Plans 43

Plans Industrial Compensation Insurance 43

Construction Business Owner

OCTOBER 26, 2011

INSURANCE |. Rarely does a finished project exactly mirror the original plans. I know from my days as a general contractor that plans and specifications are altered continuously as subcontractors become involved, materials are changed, and change orders are issued. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

Construction 159

Construction Software Software Bidding 159

Fieldwire

AUGUST 14, 2023

For many construction businesses, the retainage payment accounts for their entire profit margin on the project. BLOG How to Streamline Construction Processes from Planning to Payments Learn more → In addition, the same contract has a provision for negotiating variable retainage. This can be used in a couple of different ways.

Contractors 98

Contractors Cash Flow Lien Negotiation 98

Best Practices Construction Law

NOVEMBER 2, 2012

Over my legal career, I have handled a significant amount of workers' compensation disputes, representing injured employees, defending employers and insurance carriers, and even a few years working for an appellate judge that addressed workers' compensation appeals. The National Council on Compensation Insurance, Inc. Why the increase?

Compensation 48

Compensation Insurance Claims Employment 48

Fieldwire

JULY 20, 2022

Warranties, like insurance, can cover replacement components and other equipment concerns. Furthermore, just like insurance, those benefits are contingent on equipment being maintained on a regular basis. This improves the return on the investment for every move your organization does, implying greater profit.

Management 52

Management Equipment Inspections Construction 52

Construction Business Owner

DECEMBER 9, 2011

INSURANCE |. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. or higher, then it might be time to consider implementing a comprehensive safety plan to try and reduce your workers compensation insurance costs. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |.

Construction 136

Construction Insurance Software Software 136

Construction Business Owner

JANUARY 31, 2012

INSURANCE |. While some of your company’s corporate image will come about naturally based on the work that you do and the manner in which you do it, companies that have a specific plan in place to create a corporate image have much more control over how they are perceived. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. foundation.

Construction 185

Construction Software Software Accounting 185

Construction Business Owner

MAY 31, 2011

INSURANCE |. ROPE stands for Research, Organize, Plan, and Execute. The planning phase begins when our analyst designs the application from the user’s perspective. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law.

Construction 149

Construction Software Software Accounting 149

PSMJ Resources

SEPTEMBER 1, 2011

Do You Have A Disaster Response Plan? When your ship is sinking, there is not much time for planning. Every project needs a disaster response plan. Others are project-specific and should be anticipated when planning the proposal and expanded upon at the Project Initiation Meeting. Do You Have A Disaster Response Plan?

Resource 40

Resource Plans Project Management Education 40

Construction Business Owner

MAY 29, 2012

INSURANCE |. With so many sources of information, it’s never been more important to take charge and develop a business information plan. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building.

Construction 120

Construction Software Software Cash Flow 120

Construction Marketing

FEBRUARY 11, 2021

No matter what kind of business you’re starting, you’ll need a solid game plan to ensure that your business doesn’t fail before it takes off. 1) Business plan. Just like any new company, drawing up a business plan is crucial. Insurance, liability, and workers’ compensation . 13) Business insurance.

Insurance 296

Insurance Liability Legal Compensation 296

Pro Builder

MAY 3, 2023

Having an agility mindset means you can better confront and manage labor shortages, higher insurance costs, supply chain disruptions, and cash flow challenges. A plan to deal with causes is a step toward that crucial agile mindset. Use data, plan in advance for volatility, and predetermine what “done” looks like.

Deals 52

Deals Cash Flow Management Forecasting 52

Construction Business Owner

NOVEMBER 3, 2011

INSURANCE |. Rather than learning about the project in a “drive by” data dump hours before mobilization, the superintendent has becomes an instrumental cog in the preconstruction planning process. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Construction Law.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JANUARY 12, 2012

INSURANCE |. Obviously to bid a job, you have to access the documents, which can be costly to say the least when you consider the costs of plan room memberships and purchasing and printing documents. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Green Building.

Bidding 149

Bidding Construction Documentation Software 149

Construction Business Owner

FEBRUARY 16, 2012

INSURANCE |. Plan to use the funds for basic operational items — not capital purchases, such as construction equipment. Banks are attracted to profitable business. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law.

Banking 120

Banking Construction Cash Flow Finance 120

Construction Business Owner

JANUARY 5, 2012

INSURANCE |. Check out McGraw Hill’s Dodge Plan Center and their Network Express site. There are also local, regional and even national plan centers that have bidding project information that might help. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology.

Construction 120

Construction Bidding Software Software 120

Contractor Bookkeeping

AUGUST 16, 2013

Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. It is easy to run reports to determine which items are profitable and unprofitable and make adjustments quickly as needed. -. Chart of Accounts Insurance Health And Dental. Regular Bookkeeping.

Work in Progress 58

Work in Progress Accounting Construction Leases 58

Contractor Bookkeeping

AUGUST 27, 2014

Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. Which QuickBooks Reports Will Help You Increase Sales And Profits? Chart of Accounts Taxes.

Contractors 88

Contractors Accounting Work in Progress Profitability 88

Construction Business Owner

MARCH 1, 2012

INSURANCE |. Imagine the surprise to everyone when the profit is significantly less or non-existent at the end of a job! There are subcontractors and vendors involved, which means that the slightest change in plans, specifications, or even schedule affects everyone and their cash flow. STRATEGY |. MANAGEMENT |. ACCOUNTING |.

Cash Flow 120

Cash Flow Construction Software Software 120

Levelset

SEPTEMBER 22, 2022

Financial distress can result from a lack of skilled labor and possible workers’ compensation insurance claims. . Planning for when and where contaminants will be present allows you to provide employees with the appropriate barriers to possible illnesses and injuries. High temperatures.

Safety 52

Safety Injury Risk Construction 52

Construction Business Owner

JULY 12, 2012

INSURANCE |. For example do you know how easily your project team can access construction plans and specs? So focusing on a plan to improve project document management is a great start to better project communications. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. foundation.

Construction 136

Construction Documentation Software Software 136