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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. INSURANCE |. Accounting & Finance. Tags accounting. accounting software. Construction Accounting Software. Tags: accounting , business , business owner , construction , software , stay hungry stay foolish , steve jobs. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. EQUIPMENT |.

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Essential BIM Terminology

Viewpoint Construction Technology

The project information model refers to the design and construction stage. It focuses on professional indemnity insurance issues. Clash rendition refers to a BIM specifically created to avoid clashes in spatial planning and coordination. Configuration Status Accounting. BIM Execution Plan. CIC BIM Protocol. RAG Report.

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Understanding Burden Rate in Construction

Building Radar

The burden rate refers to the additional costs associated with labor beyond the basic hourly wage. These include expenses like payroll taxes, benefits, insurance, and other indirect costs understanding labor burden. This calculation ensures that all expenses are accounted for, leading to more precise project estimates.

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The Science of Heavy Equipment Management – Part 1: Rate Splits

Viewpoint Construction Technology

At first blush, and particularly if you don’t have a background in accounting, owning wouldn’t seem to have a rate. Depreciation, interest, licenses, insurance, and so on. Again, the interested reader may refer to the links below for a detailed explanation, but the graph in figure 1 shows a typical rate of ownership cost graph.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. INSURANCE |. Accounting & Finance. Do they have the financial resources to complete a job; is their insurance up-to-date; how does their safety record look; what do their references say about their recent work; what experience do others in my company have with them? Tags accounting. STRATEGY |.

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Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.

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How to Find GOOD Subcontractors for Construction Jobs? – Infographics

Lets Build

In fact, it’s pretty much the same process as hiring a general contractor, and perhaps even a doctor, accountant, or any other professional. Ask Around: So the first thing you would want to do is ask your friends and neighbors for references, as well as find out whether there are subs working in your neighborhood on a project.