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
Construction companies work with thin margins on the best of days, and the post-pandemic challenges of the industry have many businesses scrambling to revamp processes and do more with less to protect their bottom line … about Identifying and Eliminating Profit Fade
Last year brought about rapid changes to just about every business segment on the planet, and all industries, including construction, are still finding their footing in a post-pandemic world. Part of this ongoing recalibration includes … about What Comes Next for Cost Management in Construction
With the economy still in flux and complex demands on stakeholders across the construction industry showing no signs of slowing down, controlling costs is more important than ever. The best strategy for keeping costs in … about 5 Ways to Take Control of Your Costs
Many in the construction and development sectors are calling for greater investment in affordable housing as part of economic stimulus following the COVID-19 downturn. The South Australian Government has already put it on the agenda, … about Affordable Housing: Here Is How It Could Be Done
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
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.
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.
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 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.