Viewpoint Construction Technology

OCTOBER 24, 2012

Intense bidding competition is driving prices so low that contractors cannot both make a profit and perform quality work. The answers ranged from finding quality employees to wanting more control over project documents. One theme, however, seemed to dominate the thread.

Bidding 246

Bidding Profitability Documentation Construction 246

Construction Business Owner

SEPTEMBER 10, 2019

Construction industry experts explain the bidding strategies that keep their firms profitable.

Bidding 251

Bidding Profitability Industrial Construction 251

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

Construction Business Owner

AUGUST 25, 2017

If you are a commercial construction business owner planning your bids for spring and summer of 2018, controlling fuel expenses for your fleet is a major consideration. How do construction businesses stay profitable when one of the largest expenses—fuel—is a moving target?

Bidding 240

Bidding Profitability Commercial Plans 240

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. But you don’t want to pay well over your competitors, lest you start to lose jobs when you send out bids.

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 Budget 156

Construction Business Owner

SEPTEMBER 18, 2019

Safety performance affects your ability to bid and win work and to negotiate contracts. As such, safety is a key driver of a construction company’s productivity, quality and profitability. Smart contractors understand that safety must be both a core value and a strategic priority.

Safety 320

Safety Negotiation Bidding Profitability 320

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

Construction Business Owner

MARCH 11, 2024

Profit Starts With Knowing Your Numbers ccapoccia Mon, 03/11/2024 - 10:15 The key to building a successful construction business: knowing and managing your numbers. You can’t bid projects right unless you know your job costs, production rates, actual overhead and profit goal.

Profitability 156

Profitability Overhead Bidding Budget 156

Construction Business Owner

AUGUST 27, 2023

Harness the Power of Estimating Data to Grow Your Business ccapoccia Sun, 08/27/2023 - 12:23 Estimating is the foundation of every profitable construction business. But if you’re submitting bids without analyzing past project data, you’re missing out on valuable insights to prepare the most accurate estimate.

Estimating 296

Estimating Bidding Profitability Foundation 296

Construction Business Owner

DECEMBER 2, 2016

1 challenge many contractors face is profit shrinkage or profit margin fade. This recurring problem appears when final construction job cost comes in higher than the bid or contract project budget. I often hear company owners say that they bid using a 15-percent markup for overhead and 10 percent for profit.

Profitability 120

Profitability Overhead Bidding Income 120

Construction Business Owner

DECEMBER 10, 2019

With projects becoming increasingly complex and new challenges being introduced regularly, developing accurate bids informed by data is critical for subcontractors looking to protect their profitability.

Bidding 224

Bidding Profitability 224

HardHatChat

MAY 13, 2014

Be sure to check references of general contractors before entering into a negotiated or competitive bid situation. These are potential line items for contractors to bury costs if they are not receiving competitive bids from the marketplace. The contractor should always reveal its lowest bid for every aspect of the project.

Commercial 281

Commercial Bidding Negotiation Construction 281

Construction Dive

JUNE 14, 2019

Be able to spot profit-generating projects from a mile away. Learn from shared tips on how to choose which projects to bid on, and how to run them more profitably.

Profitability 108

Profitability Bidding 108

Job Order Contracting

JULY 8, 2024

Is the JOC Cooperative run buy a “for profit” enterprise or a government entity? Contracts are available to public schools, charter schools, private schools, community colleges, universities, cities, counties, other governmental agencies, and non-profits. No fees are charged to the Allied States Cooperative members.

Contract 244

Contract Bidding Procurement Organization 244

Construction Dive

AUGUST 5, 2024

The heavy civil contractor says demand for megaprojects is higher than the number of contractors qualified to bid on them, but disputes continue to make it risky business.

Profitability 147

Profitability Bidding Contractors 147

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

Contractor Bookkeeping

JUNE 17, 2022

Knowing which jobs have the highest probability of success and profit before getting involved moves your construction company from an unpredictable roller coaster to a peaceful merry-go-round. You have what appears to be a high-profit job, and now you think you have it made, and I hope you are right!

Profitability 20

Profitability Cash Flow Bidding Construction 20

Construction Dive

APRIL 5, 2023

The London-based contractor is benefiting from the Infrastructure Investment and Jobs Act, a strong backlog and selective bidding.

Profitability 127

Profitability Bidding Infrastructure Contractors 127

Safety Services Company

DECEMBER 1, 2023

Two contractors working for a construction firm bid for projects in the same city —we’ll call them Mark and Bob. Rigorous oversight, extensive use of Personal Protective Equipment (PPE), and investment in safety and compliance training drive Bob’s profits well above industry averages. Consider this! Here’s where things change.

Safety 126

Safety Bidding Contract Liability 126

Autodesk Construction Cloud

JUNE 8, 2023

Doing so won’t just make your life easier; it’ll also help you protect your profit margins. Implement centralized and connected bid management Bid management sometimes feels like a whirlwind, where you’re tasked to review a slew of projects and go over numerous documents and information.

Profitability 98

Profitability Bidding Estimating Risk 98

Viewpoint Construction Technology

SEPTEMBER 12, 2012

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. From estimating and project management practices to compensation and business management, contractors are finding a “new normal” in every aspect of their business.

Estimating 205

Estimating Compensation Bidding Construction 205

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. An overestimated or incomplete bid may mean you won’t win the jobs you need. Neglecting Safety Measures.

Contractors 296

Contractors Software Software Accidents 296

Lets Build

NOVEMBER 15, 2019

Many construction companies struggle to stay profitable. A lot of business leaders focus on bidding on contracts and winning jobs rather than making a profit in order to keep up. One major reason behind this is the way the industry works. Many clients, especially in the public sector, tend to award contracts to the lowest.

Profitability 84

Profitability Bidding Contract Construction 84

Job Order Contracting

APRIL 16, 2021

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.). Owners may elect to award JOCs to the prescribed number of responsible and eligible bidders bidding the lowest coefficients per solicitation.

Contract 258

Contract Overhead Bidding United States 258

Construction Business Owner

SEPTEMBER 29, 2021

How Construction Companies Can Boost Cash Flow and Profitability. How your company pays for purchases and manages expenses impacts your employees, your customers, and your key business metrics, including profitability. Track job costs more accurately for better profit margins. project profitability. Greg Ragsdale.

Management 291

Management Virgin Islands Cash Flow Puerto Rico 291

Levelset

MARCH 11, 2022

Prioritizing a low bid over contractor performance is a lose-lose procurement strategy. Unfortunately, low bidding is an accepted practice for both owners and contractors alike. Owners will say that focusing on the lowest bid possible ensures they get a good price. Who’s responsible for low-bid procurement?

Bidding 98

Bidding Cash Flow Contractors Procurement 98

Job Order Contracting

MARCH 1, 2022

Items included in a JOC coefficient (also known as a “Bid Factor”). General / Prime Contractor Profit and risk. Labor (Both during Normal Work Hours and Outside of Normal Work Hours). Materials. Equipment. Subcontractor costs. Subcontractor mark-ups. General / Prime Contractor Overhead. projects valued over $35K; 9.

Insurance 264

Insurance Compensation Overhead Security 264

Fieldwire

FEBRUARY 14, 2022

Anyone who has managed a construction company, department, or project knows profitability can be challenging. Intense competition, fluctuating market conditions and other factors often result in tight profit margins. Even with numerous challenges, specialty contracting can be profitable. In-Demand Expertise.

Profitability 98

Profitability Contractors Management Contract 98

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. If you’re still using paper to estimate and bid, you know it can be a slow moving, time draining process. Bid Day tool.

Estimating 130

Estimating Bidding Viewpoint Construction 130

Construction Business Owner

FEBRUARY 9, 2024

You can’t bid projects right unless you know your job costs, production rates, actual overhead and profit goal. How to Set Financial Targets to Achieve Business Goals ccapoccia Fri, 02/09/2024 - 13:22 The key to building a successful construction business: knowing and managing your numbers.

Overhead 156

Overhead Bidding Profitability Budget 156

Construction Business Owner

JANUARY 30, 2014

Building a profitable construction business starts with knowing what you want, designing a business plan to reach those goals and keeping track of progress. Working hard and keeping busy is not your long-term goal.

Bidding 153

Bidding Profitability Contract Plans 153

Construction Business Owner

MARCH 23, 2023

In the construction business, it means winning more than 33% of your bids and making a minimum of 5% to 10% net profit. How to Expect, Demand & Achieve Excellence ccapoccia Thu, 03/23/2023 - 09:07 In baseball, achieving excellence means hitting over.300. In golf, it means shooting par. Are you achieving excellence in your business?

Bidding 156

Bidding Profitability Innovation Plans 156

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. 16 Things Every Contractor Should Know When Bidding a Job Order Contract is just an introduction to anyone interested in JOC. Typically, how many general contractors are invited to bid on a JOC project?

Bidding 100

Bidding Contract Contractors Electrical 100

Construction Business Owner

AUGUST 25, 2022

Estimating is the backbone of a construction project, and it’s essential to get it right to win bids. STACK also offers the ability to create multiple estimates per project for alternate bids. When you have calculated your selling price and profit, you’ll be able to create a custom, professional proposal within STACK.

Estimating 296

Estimating Overhead Software Software 296

Autodesk Construction Cloud

APRIL 24, 2023

By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. ” Clearly, technology can enormously influence your projects’ productivity and profitability. Little to no project or business predictability Most construction projects are like a unique snowflake.

Profitability 97

Profitability Construction Autodesk Forecasting 97