Construction Business Owner

JUNE 26, 2013

How many times have your estimators or you uttered the phrase, “That firm is bidding below cost”? While not all contractors are responsible bidders, if you are facing credible competition that seems to be bidding below cost, you probably need to ask yourself if you know your costs to execute work. Understand Your Costs.'

Bidding 207

Bidding Profitability Estimating Contractors 207

Viewpoint Construction Technology

SEPTEMBER 8, 2017

No one wants to experience profit fade. You want to maximize your profit on every job, and eliminate wasteful practices and spending. This increased profitability begins with good communication. That means faster estimating, faster job completion and faster billing. Payroll is an area that should be constantly evaluated.

Profitability 214

Profitability Software Software Bidding 214

Construction Business Owner

NOVEMBER 9, 2023

How to Stop Profit Margin Fade ccapoccia Thu, 11/09/2023 - 10:03 The No. 1 challenge many contractors face is profit shrinkage or profit margin fade. This recurring problem occurs when the final construction project job cost finishes higher than the bid estimate or budget.

Profitability 156

Profitability Bidding Estimating Budgeting 156

Viewpoint Construction Technology

SEPTEMBER 12, 2012

From estimating and project management practices to compensation and business management, contractors are finding a “new normal” in every aspect of their business. I hear stories from clients about how aggressive the bidding environment has become, with more and more contractors bidding for each job and many bidding at a loss.

Estimating 205

Estimating Compensation Bidding Construction 205

Construction Business Owner

SEPTEMBER 17, 2019

Therefore, when pricing and estimating projects, you must include the time and money required for each in your bids. Whether you are a general contractor, builder, specialty contractor or subcontractor, it takes labor, equipment and materials to complete a contract’s scope of work. Here's how to do that properly. .

Profitability 249

Profitability Bidding Estimating Equipment 249

Viewpoint Construction Technology

MAY 11, 2017

Using a web- or cloud-based software solution is also the best way to increase your estimate accuracy and improve profitability. It should be a part of your strategy to win more bids. Quick, accurate estimates can be a fast and efficient way to grow your business. Estimating digital takeoff. Bid Day tool.

Estimating 130

Estimating Bidding Viewpoint Construction 130

Construction Business Owner

MAY 16, 2023

The Importance of Accounting Estimates in an Uncertain Economy ccapoccia Tue, 05/16/2023 - 13:49 “A journey of a thousand miles begins with a single step,” was the saying of Lao Tzu, an ancient Chinese philosopher. These estimates provide management with a foundation to effectively interpret costs, profitability and bid processes.

Accounting 156

Accounting Estimating Finance Bidding 156

Construction Business Owner

MAY 9, 2016

Profit margin shrinkage starts when the estimator prepares a bid based on the cost of completion he thinks a job might require versus the cost history of similar, completed jobs.

Estimating 228

Estimating Bidding Profitability Contract 228

Job Order Contracting

JULY 8, 2024

Does the JOC Cooperative Program REQUIRE that a compliance audit be done for EVERY contractor estimate prior to award by an owner? Is there an optional service available to have a fully independent line item audit of a contractor estimate including quantities and line item content? #5.

Contract 244

Contract Bidding Procurement Organization 244

Job Order Contracting

APRIL 16, 2021

The ability to build and understand detailed line item cost proposals and estimates is also required. How many JOC Contracts do Owners bid? Owners may bid a single contract or bid several contracts base upon geographic area and/or type of work required (roofing, paving, electrical, etc.). How is are JOC projects priced?

Contract 258

Contract Overhead Bidding United States 258

Autodesk Construction Cloud

JUNE 8, 2023

Doing so won’t just make your life easier; it’ll also help you protect your profit margins. Connect the design phases with downstream tasks like scoping, estimating , and buyout by ensuring data flows smoothly into these various processes. This is where connected bid management solutions comes in handy.

Profitability 98

Profitability Bidding Estimating Risk 98

Autodesk Construction Cloud

JUNE 20, 2022

Estimating is one of the most complex parts of the construction process. And done inaccurately, you risk losing the bid, or worse, profits. . Thankfully cloud-based software solutions enable teams to create more competitive bids with accurate estimates faster. Connected takeoff and estimate .

Estimating 105

Estimating Software Software Bidding 105

Cassell Construction Estimating

OCTOBER 5, 2023

Bids are time‐consuming 2. Bids are time‐consuming: How are you doing your takeoff? Do you compile the estimate manually, 
then enter into a spreadsheet? Or do you build the bid directly from within your estimating
 software? You can’t open a box, and turn 
inconsistent estimating into a well‐oiled system.

Estimating 100

Estimating Las Vegas Bidding Software 100

Viewpoint Construction Technology

MAY 14, 2019

The most common contractor errors and how to avoid them to keep your construction projects safe, productive and profitable. This adds up to smarter, safer projects that are ultimately more profitable. Improperly Estimating Costs and Poorly Planning Projects. But they also know that working smart helps limit issues.

Contractors 296

Contractors Software Software Accidents 296

Autodesk Construction Cloud

JUNE 7, 2023

Inaccurate estimates might not be the root of all evil, but they sure can derail a project. Far and away one of the most common reasons, however, is inaccurate budget estimates. When it comes to construction, estimating costs is a towering challenge. When it comes to construction, estimating costs is a towering challenge.

Estimating 98

Estimating Construction Budgeting Budget 98

Autodesk Construction Cloud

JUNE 24, 2022

New opportunities and challenges highlight the importance of producing accurate estimates. In an industry with razor-thin margins, incorrect estimates can lead to a major hit in profitability and wreak havoc on your company’s finances. One of the best ways to do this is to use construction estimating software. .

Estimating 94

Estimating Software Software Construction 94

Job Order Contracting

APRIL 4, 2024

Let’s break down what this means: Job Order Contracts (JOC) Definition : JOC is a type of procurement process used by public agencies to accomplish a large number of small to medium-sized projects with a single, competitively bid contract. It should be used to account for contractor overhead and profit.

Overhead 187

Overhead Profitability Contract Risk 187

Autodesk Construction Cloud

JUNE 23, 2022

What we in America call Estimators, and what the rest of the world calls Surveyors, have been around for thousands of years. Today, estimators are the unsung heroes of a project team. Their success is a critical element of how a company continues operating at a profit for another day. . Watch our Estimating Master Class.

Estimating 105

Estimating Modeling Documentation Risk 105

Construction Business Owner

APRIL 5, 2021

For example, if each clash costs $3,500 per instance (PWC, 2018), it’s difficult for estimators and project managers to ensure each project is profitable during the planning phases of a project. This is especially helpful for self-performing general contractors and bid-build projects. The MacLeamy curve.

Modeling 234

Modeling Environment Autodesk BIM 234

Autodesk Construction Cloud

APRIL 24, 2023

By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. Decisions made using “bad data” are estimated to cost the industry $88.69 ” Clearly, technology can enormously influence your projects’ productivity and profitability. design and preconstruction.

Profitability 97

Profitability Construction Autodesk Forecasting 97

Construction Business Owner

MAY 9, 2016

Profit margin shrinkage starts when the estimator prepares a bid based on the cost of completion he thinks a job might require versus the cost history of similar, completed jobs.

Estimating 120

Estimating Bidding Profitability Contract 120

Building Radar

NOVEMBER 18, 2024

The construction industry is complex, with various costs that influence project profitability. Understanding burden rates is essential for construction companies to accurately estimate costs and ensure projects remain profitable what is burden rate. What is Burden Rate in Construction?

Construction 52

Construction Insurance Profitability Bidding 52

Viewpoint Construction Technology

OCTOBER 25, 2017

When profit margins are thin, it doesn’t take much to wipe out a project’s financial benefits. Insights from all this information could increase profit and productivity and reduce time, errors, and material waste. Scheduling, planning, and collaboration optimization.

Risk 217

Risk Schedule Profitability Viewpoint 217

Job Order Contracting

JULY 26, 2017

16 Things Every Contractor Should Know When Bidding a Job Order Contract is just an introduction to anyone interested in JOC. At a minimum, the Owner should provide a statement of work with sufficient detail to enable the contractor to create a detailed line item construction cost estimate. Learn more… 1. Learn more… 5.

Bidding 100

Bidding Contract Contractors Electrical 100

Viewpoint Construction Technology

JUNE 23, 2017

Costs aren’t easily available, so estimators take too long getting bids together. The use of templates for assemblies and bidding, for example, kick starts the process on each job and improves overall accuracy. Precise estimates are imperative to managing the construction process. You are under-billing and overpaying.

Software 130

Software Software Management Bidding 130

Chianelli Estimating

SEPTEMBER 14, 2011

Build profitability into your projects from the start by using an outsourcing construction estimating specialist. . Time is money and a cost estimating service will help you gain time and allow you to focus on building relationships and not get bogged down with the day to day worries of getting that bid done on time.

Estimating 60

Estimating Heavy Bid Construction Bidding 60

Construction Business Owner

APRIL 26, 2012

Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” Meet with them before every project to discuss not only the contractual provisions for scope of work and change orders, but also what you bid and why.

Change Orders 120

Change Orders Construction Profitability Software 120

Autodesk Construction Cloud

MAY 23, 2022

With rising material costs and razor-thin margins, construction professionals must ensure that project costs and materials are precisely estimated so they can make accurate projections and optimize their bids. . Accurate construction takeoffs and quantification lead to more profitable projects.

Estimating 105

Estimating Autodesk Documentation Bidding 105

Job Order Contracting

MAY 3, 2020

Strategic alignment (links between operational performance and strategic factors), and profitability/cost control and/or resource maximization are initial area of focus and should be regularly monitored.

Procurement 191

Procurement Plans Construction BIM 191

Viewpoint Construction Technology

JANUARY 22, 2018

If you are attending, we’re inviting you to swing by Viewpoint’s booths at the show (#3321 and #3400) for a look at some exciting ways we’re trying to make your service jobs easier and more profitable. This lets MEP contractors create more bids in less time with confidence, allowing you to win and perform more work.

US 130

US Estimating Mobility Inventory 130

Chianelli Estimating

NOVEMBER 1, 2021

What is Construction Estimating? It’s up to a construction estimator to determine the estimated cost of a construction project. What Does a Construction Estimator Do? This is called quantity takeoff , which is at the heart of construction estimating. What is the Purpose of Cost Estimation?

Estimating 60

Estimating Construction Materials Bidding 60

Viewpoint Construction Technology

DECEMBER 20, 2017

The report also estimates that the productivity gap in construction costs the global economy $1.6 At Viewpoint, we provide construction firms with a variety of integrated software solutions to connect the office, team, and field using the cloud, enable easy estimating and bidding, streamline processes, improve communication, and more.

Industrial 182

Industrial Construction Viewpoint Products 182

Construction Cost Estimating

JULY 30, 2011

Construction Cost Estimating Blog. Some new technologies for Perfect bidding and estimating. Perfect bidding and estimating plays a vital role for construction industry to measure the profitableness in the construction industry. A pioneer company in construction estimating. Join our estimating forum.

Bidding 40

Bidding Estimating Planswift Software 40

Viewpoint Construction Technology

AUGUST 29, 2018

So, taking proper care of heavy iron the machines is key to bringing in projects on time and maximizing profitability. Owning vs Operating: Maximizing Construction Equipment Productivity and Profitability. When a piece of equipment is purchased, there are ownership costs that occur regardless of how the machine is used.

Equipment 189

Equipment Management Profitability Viewpoint 189

Construction Cost Estimating

AUGUST 2, 2011

Construction Cost Estimating Blog. How to prepare a bid estimate to win a project. A bid process is required to award the most jobs in construction industry. In a bidding contest the lowest bidder will be awarded the contract. Estimating a construction bid involve some knowledge of the building process.

Estimating 40

Estimating Bidding Construction Drawings 40

Construction Cost Estimating

NOVEMBER 6, 2011

Construction Cost Estimating Blog. Construction Estimating Tool for General Contractors. General Contractors know the key to profitability is having accurate estimates for everything from electrical to concrete work. Equipment Management to track profitability by unit and maximize ROI on both equipment and fleet vehicles.

Estimating 53

Estimating Contractors Software Software 53

Construction Cost Estimating

NOVEMBER 13, 2011

Construction Cost Estimating Blog. Roof Estimating Software for Contractors. Roof contractors to help them sell more, build happier customers, estimate faster, generate more accurate proposals and bring more to their bottom line profits. Have you ever needed estimating software for roofing? adsense analytic.

Estimating 58

Estimating Software Software Construction 58