Margin erosion is currently one of the major factors generating financial strife among many construction firms, according to risk analysts Equifax. Flaws in communication processes and protocols, particularly when dealing with back charges and variations, … about Top Reasons for Project Margin Erosion and How to Avoid Them
Financial Management
Project Financials: Narrowing the Gap Between Office and Field Teams
In the construction business, precision counts. Working with thin profit margins means contractors must constantly walk a fine line between profitability and busting their budget, so everything from material deliveries to how labor is distributed … about Project Financials: Narrowing the Gap Between Office and Field Teams
Estimating Construction Costs Like A Pro: Easy-to-Follow Tactics Strategies and Techniques
The artful practice of construction cost estimation doesn’t just come from your technical excellence. Here’s the disciplined way to make your construction cost estimating an art.
Construction Contracts: Important Basics on What You Need to Know
Whether you are a contractor, owner or subcontractor, the knowledge of different types of construction contracts will help you choose the best one for each project type.
What You Need to Know About Retention Payments in Construction
One of the biggest headaches for many builders, particularly on larger projects, is keeping track of what is due to whom and when. Australia’s recent laws protecting payments to subcontractors, have added another layer of … about What You Need to Know About Retention Payments in Construction
Construction Cost Overruns: 5 Ways to Control Them
Construction cost overruns don’t just happen; they stalk projects right from the start. They hide in project design, project schedules, and nearly any other project aspect, waiting to surprise and confound when least expected.
The Role of Asset Management in Construction
In construction, the initial planning and subsequent follow-through of the project get most of the focus. This means, however, that little thought is often given to what happens once the project is complete. In other … about The Role of Asset Management in Construction
A Look Inside Public Private Partnerships
Simply put, a public-private partnership, or P3, is an arrangement through which a public entity transfers most or some of the risk of a major project to the private sector. Broadly speaking, any joint effort … about A Look Inside Public Private Partnerships
Groundbreak 2018: A Look Inside Construction Financials
An estimated 3,000 construction professionals are gathering this week in Austin, Texas for one of the industry’s largest construction technology summits: Procore’s annual Groundbreak conference, which runs from Nov. 13-15, will offer thought-provoking educational opportunities … about Groundbreak 2018: A Look Inside Construction Financials
Is Your Business Prepared for the Next Recession?
With many experts suggesting the possibility of another economic downturn in the not-so-distant future, today’s financial climate has many construction financial managers asking what they can do to better prepare for the next recession.
