Specialty contractors have bigger challenges with cash flow than many other construction project participants; they are close to dead last in the payment line, and their work progress is easily affected by others.
Business
Lack of Process Standardization is Clouding Your Business’ Financial Vision
Does it ever feel like every job your business runs is an island? That’s normal. A construction project team is naturally isolated from the rest of the business. They’re focused on one job, and only … about Lack of Process Standardization is Clouding Your Business’ Financial Vision
Owners: Answer These 3 Key Questions to Maximize the ROI from your Construction Platform
The successful planning and execution of any capital project has never been an easy undertaking. After expending sizable efforts in planning the allocation of capital, raising funds, and gaining the necessary approvals, owners of all … about Owners: Answer These 3 Key Questions to Maximize the ROI from your Construction Platform
How Smart Builders Make Money Before They Ever Break Ground
According to researchers at Arizona State University, preconstruction costs can account for as much as 5% of a project’s total budget, depending on the type and complexity of the project. If we were to apply … about How Smart Builders Make Money Before They Ever Break Ground
How Owners Are Overcoming Their Biggest Challenges
The pandemic exacerbated a number of familiar construction industry challenges and introduced new ones. While the construction industry might be past the crisis phase when work came to a halt, many of the challenges that … about How Owners Are Overcoming Their Biggest Challenges
Staff Up By Retraining Existing Workforce
Many companies are increasing pay rates, improving benefits and using professional search firms to fill out their ranks. Others are getting more aggressive by training their way out of shortages. For some companies, that means … about Staff Up By Retraining Existing Workforce
Foolproof Guide for Subcontractors Working Directly for Owners
Subcontractors can improve their resilience by having a diverse customer base. Here are strategies you can use when you want to work directly for owners without damaging your general contractor relationships.
Rule Number One as an Exec Overseeing Capital Projects: No Surprises
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. In order to ensure a company doesn’t bite off … about Rule Number One as an Exec Overseeing Capital Projects: No Surprises
Avoid Inefficiency and Profit Erosion by Syncing Your Field and Office Teams
Profitability and efficiency go hand in hand in construction, but it’s next to impossible to be operating on all cylinders if your teams aren’t on the same page.
Increase Visibility into Your Project Risks and Budget With These 4 Key Tactics
Some of the biggest construction issues arise from a lack of visibility of potential budget and project risks. Many projects also suffer from communication issues among stakeholders.
