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Keeping Up with the Evolving Construction Industry By Matt Klemmensen, Casualty Loss Control Expert, Munich Re Specialty – North America mhodges Wed, 10/30/2024 - 08:47 The construction industry is a dynamic segment of the economy. Many contractors have success expanding into new areas by following their clients.
Successful commercial construction projects hinge on more than just technical expertise; they require a strategic and collaborative approach. For Directors of Construction, engaging the right general contractor (GC) who can work seamlessly with commercial architects is essential to mitigate risks and achieve project goals.
Promote to rotator No Rotator Image Status of webinar Featured The knowledge to ensure your construction projects adhere to prevailing wage requirements. Central Prevailing wage in construction is complicated due to variations in wage rates across different regions and the diverse scope of construction projects.
Promote to rotator No Rotator Image Status of webinar Upcoming Ease your construction businesss transition to automation. Central The construction industry has faced a major shift in market conditions in recent years. But financial operations automation can help contractors navigate these changesand thrive.
As a specialty contractor, your success hinges on your ability to manage complex workflows, maintain cost control, and deliver projects on time. This comprehensive eBook reveals the 12 key reasons why investing in a construction-specific software platform is the game-changer your business needs.
Improve construction cost visibility and management with a LOCAL, CURRENT, OBJECTIVE, and VERIFIABLE Comprehensive Unit Cost Database with 90,000 granular construction tasks including labor, material, equipment, and productivity details. The post Comprehensive Unit Cost Database – Construction appeared first on 4BT.
Tips for Navigating Liabilities & Subcontractor Responsibilities ccapoccia Tue, 12/17/2024 - 14:36 T he entanglement and overlap of work among multiple contractors is often inevitable due to the complex nature of construction projects and the diverse specialties of the contractors involved.
Promote to rotator No Rotator Image Status of webinar Upcoming Construction payroll is uniquely complex, with variables that differ by business and job. Central Construction payroll is uniquely complex, with variables that differ by business and job. Before that, he spent 10 years as a controller for a large mechanical contractor.
According to industry data, the average bid win percentage for a commercial contractor is 25%, meaning for every 10 bids submitted, they would win 2-3 projects. Importance of tracking win rate: It’s crucial for contractors to actively monitor their bid win rate to identify areas for improvement and strategize for better bid submissions.
For specialty contractors, using a construction software platform helps to lay the technological foundation required to support future growth and improved financial performance. The key benefits of using a construction-specific ERP are: Elimination of disparate systems. Greater agility. Increased efficiency and productivity.
Centralized Timely Construction Cost Data is a “single source of truth” that is mandatory for improving cost visibility and management for any repair, renovation, maintenance, or new build project. contact-form] The post Centralized Timely Construction Cost Data appeared first on 4BT.
The Importance of Surety Bonds for ConstructionContractors. If you want to become a constructioncontractor or are already operating within the industry, you will likely encounter surety bonds. Thu, 10/27/2022 - 15:14.
The Importance of Manufacturer Certifications for Contractors ccapoccia Wed, 09/18/2024 - 15:28 Discover how manufacturer certifications can help contractors build their reputations and access broader projects.
Pandemic Problems & Possibilities Facing Contractors ccapoccia Thu, 03/23/2023 - 09:33 The COVID-19 pandemic brought about one of the most challenging periods in the history of the construction industry.
At the highest level, contractors understand the importance of accurately predicting and preparing for variances in costs or schedules when delivering a construction project. In fact, leaders know it is essential to the profitability, cash flow and potential viability of projects.
12 Pitfalls New Contractors Should Avoid. New contractors face big challenges - is your new business built for success? New contractors, like all contractors, face challenges around workload: cash flow, staffing and contracts. Here are 12 common pitfalls contractors face when starting out. . contractors.
Assessing Key Tax Methods for Contractors ccapoccia Tue, 12/17/2024 - 14:24 C ontractors face challenges that necessitate careful consideration of accounting methods for their contracts, especially for tax purposes. The choice of tax accounting methods for contracts can significantly impact financial statements, cash flow and tax liabilities.
mhodges Wed, 02/05/2025 - 16:09 Elevate Your Business: The Strategic Advantages of Partnering with the IUPAT As a contractor, one of your top priorities is delivering high-quality projects on time and within budget. By becoming a signatory contractor with the IUPAT, you unlock a range of strategic benefits that go far beyond access to labor.
Complying With the Department of Labor’s Independent Contractor Rules ccapoccia Tue, 03/05/2024 - 17:35 Misclassification of workers has increasingly become a target of the U.S.
Construction companies face daily challenges, from project delays to cost overruns. This in-depth study covers how companies like Bartlett-Cocke General Contractors saw an 83% reduction in cost analysis time and a 62% decrease in vendor payment processing time by adopting a Construction ERP system.
Investigating the Importance of Manufacturer Certifications for Contractors ccapoccia Mon, 06/10/2024 - 15:28 Discover how manufacturer certifications can help contractors build their reputations and access broader projects.
Promote to rotator No Rotator Image Status of webinar Featured The construction sector has made remarkable strides in adopting technologies. Central The construction sector has made remarkable strides in adopting technologies like AI and 3D modeling, yet back-office payment processes remain stuck in the past.
Promote to rotator No Rotator Image Status of webinar Featured Understanding the basics of construction accounting. When a contractor conceptually understands the basics of construction accounting it accelerates the contractor’s ability to build upon that knowledge effectively. Thu, 05/16/2024 - 12:00 1:00 p.m.
3 Reasons Contractors Should Hire More Women ccapoccia Tue, 06/27/2023 - 19:40 We need more of the right people for the construction industry to keep pace with project demand. Recent research shows that women bring unique qualities to the jobsite that will help contractors improve project outcomes.
It is time to switch to a modern construction software solution designed for specialty contractors. Silos of data and outdated systems can hold your business back. CMiC provides a platform that simplifies operations, improves visibility, and boosts efficiency.
2024 Construction Forecast ccapoccia Wed, 01/10/2024 - 16:17 Fasten your seat belts and enjoy the ride. Like airline travelers bracing for expected turbulence, contractors are preparing for a tricky operating environment in 2024.
Over the past 20+ years, Englewood has completed over 2500 commercial construction projects in the retail, restaurant, hospitality, senior living, industrial, cannabis, and automotive sectors. For example, at Englewood Commercial Construction, early collaboration is a core part of our process.
Join this webinar to learn how to eliminate: Sub overbilling/math errors Unapproved change orders Missing lien waivers Outdated compliance SPEAKERS Nick Overmann Product Marketing Expert GCPay Nick Overmann is a Product Marketing Expert at GCPay, with over 15 years of experience in the construction and payment industries.
The specialty contractor space is facing a transformative period, driven by labor shortages, rapid technological advancements, and increasing regulatory requirements. In 2024, contractors must navigate complex challenges like fragmented management systems and delays in payment.
Strategic Tax Planning for Contractors in 2024 ccapoccia Mon, 06/24/2024 - 17:59 A s 2023 financial statements and tax returns are finalized, it’s time for contractors to shift their focus to the current tax year of 2024 and beyond.
Promote to rotator No Rotator Image Status of webinar Featured The essential knowledge every contractor needs to succeed in the prevailing wage landscape. This presentation will guide you through the essential knowledge every contractor needs to succeed in the prevailing wage landscape. Thu, 02/13/2025 - 12:00 1:00 p.m.
The Importance of Standardized Cost Information for Construction, Renovation, Repair, and Maintenance Activities Savvy real proper owners are starting their transition to standardized cost information. The post Standardized Cost Information – Construction, Renovation, Repair, and Maintenance appeared first on 4BT.
Why Contractors Need to Automate Logistics Processes ccapoccia Thu, 02/16/2023 - 15:08 The construction industry faces many challenges that other industries will face in 2023 — labor shortages, cost overruns, project delays and inadequate communication. According to the U.S. trillion infrastructure investment.
Contractors need more than word-of-mouth. Learn how a quality site, that is easy to manage, can set you apart from the competition, and help can take your construction business to the next level. Marketpath is a leading provider of high-quality website solutions tailored for contractors and the construction industry.
Better contractor alignment Estimates match how local subcontractors and suppliers bid , reducing disputes. Real-time, granular, locally researched data is essential for Lean construction, JOC, and Progressive Design-Build to ensure cost transparency, prevent budget overruns, and enable informed decision-making.
Aging Infrastructure of US Transportation Systems Could Cause a Construction Boom ccapoccia Wed, 06/19/2024 - 14:25 The construction industry has faced many hurdles, including an ongoing labor shortage, rising cost of materials, supply chain disruptions and evolving technology that has made it difficult for contractors to keep up.
Proactive Measures to Mitigate Payment Disputes on Construction Projects ccapoccia Wed, 06/12/2024 - 17:00 Contractors, like any skilled professional, expect to be paid for their work. While this concept is relatively basic and understood, construction projects can become incredibly complicated, and things often do not go as planned.
Speaker: Donna Laquidara-Carr, PhD, LEED AP, Industry Insights Research Director at Dodge Construction Network
In today’s construction market, owners, construction managers, and contractors must navigate increasing challenges, from cost management to project delays. That’s where data-driven construction comes in. That’s where data-driven construction comes in.
Industry Statistics Show Benefits & Resistance to Lean Construction ccapoccia Thu, 03/23/2023 - 08:35 By now, most contractors have heard of “lean” construction; it has clearly gained a foothold in the practices of many contractors.
Rising Construction Costs Lead to Higher Risks PCF Construction offers insight on current market construction risks and how to take control mhodges Tue, 11/07/2023 - 09:13 One of the most pressing issues in the construction industry today is the unforeseen or unintended increase in risk exposures due to rising construction costs.
The gig economy is rapidly transforming the construction industry, introducing a flexible workforce model where skilled tradespeople and laborers connect directly with contractors and clients through digital platforms.
This is literally the case in the construction stage of projects and it applies just the same during the pre-construction stage. Anything that is built on a poor foundation will soon crumble from the ground up.
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