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Commercial Construction Project Planning: 3 Warning Signs Your Budget Might Go Bust

HardHatChat

Budget is always a major consideration for our commercial construction clients, and as a general contractor we devote significant time to the budgeting process. Here are a few signs that, in our experience, indicate your project budget is more likely to bust: Skimping on Professional Services. Competitively Bidding the Project.

Budgeting 337
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4 Rules for Holding More Effective Meetings & Cultivating Better Outcomes

Construction Business Owner

The first priority of an effective team meeting is to review production and performance to date, asses how much work is left to complete and address how teams will accomplish the remaining work and tasks required to finish safely, on-time and on-budget.

Mobility 327
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5 steps to prevent common construction schedule delays

Lets Build

Construction schedule delays are a common problem within the industry and for a very good reason. As reported by McKinsey and Company, an average project in construction is expected to experience a minimum 20-month delay and an 80% budget overrun. You wanted to make a difference and deliver successful projects within time and budget.

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Better Manage Construction Costs Schedules and Quality

Job Order Contracting

Over eighty percent (80%) of construction projects are over-budget, late, or not competed correctly. Sixty (60%) percent of all project fail to meet both cost and and schedule targets. Fortunately there are proven processes to better manage construction costs, schedules, and quality.

Schedule 160
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7 ways to improve your construction schedule

Lets Build

If you answered staying on schedule, you’re not alone. Less than one-third of contractors finish their tasks on time and on budget. So if you don’t want your next project to end up as another statistic for missed deadlines, you need to improve your construction schedule. Are on-site activities matching up with your schedule?

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12 Step Program for Creating Credible Construction Estimates

Job Order Contracting

. #1 Define estimate’s purpose ■ Who will use the estimate and how. Required level of detail, and overall scope. #2 Monte Carlo simulation) to develop a confidence interval around the point estimate. ■ Monte Carlo simulation) to develop a confidence interval around the point estimate. ■

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How project managers are using technology to ensure on-budget and on-time construction

Lets Build

The success of any construction project hinges on multiple factors, including budgeting and scheduling, which impact the project’s completion. In fact, most contractors usually add a 10% margin error into their budgets and timelines as a contingency. This provides a single source of truth to drive your construction engine.