Construction Business Owner

OCTOBER 26, 2012

Understand common missteps to lessen risk and better gauge profitability of your construction business.

Estimating 316

Estimating Profitability Construction Risk 316

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.

Profitability 214

Profitability Software Software Bidding 214

Job Order Contracting

MAY 4, 2023

The validity of a construction cost estimate, the most important aspect, is often overlooked and resulting in billions of dollars was every year. A construction cost estimate must be independently validated. Key Principles There are key principles that should be adhered to when preparing a construction cost estimate.

Estimating 245

Estimating Construction Documentation Risk 245

Job Order Contracting

JULY 19, 2020

2020 Guide to Construction Cost Estimating provides a road map for applying best management practices necessary to drive financial visibility and transparency. Since other levels or types of cost estimating can’t meet this level, care should be given as to what form of cost data is being use. Introduction. General Conditions.

Estimating 213

Estimating Overhead Construction Liability 213

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

Construction Business Owner

JANUARY 14, 2022

Outlining how you will manage, operate and run your construction business is a big step toward building a continuously profitable construction company. You, your managers, field supervisors, estimators and crews must know the basics — rules, standards, values and fundamentals — that you stand for as a company. Fri, 01/14/2022 - 09:00.

Profitability 358

Profitability Estimating Management Construction 358

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. There’s no doubt that economic conditions change the way we all do business, and this has been especially true over the past several years.

Estimating 205

Estimating Compensation Bidding Construction 205

Viewpoint Construction Technology

JUNE 12, 2013

For example, if you completely own a piece of equipment, you probably estimate the amount of fuel that it uses on a job, but may not consider including the depreciation, insurance, maintenance, and other costs associated with running it. Missing the Mark on Profitability. And how can you improve your estimates?

Bidding 325

Bidding Profitability Construction Cash Flow 325

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

DECEMBER 20, 2022

It takes knowledge of the client, an understanding of the plan, and much skill to estimate labor, materials and equipment costs accurately. The key to submitting the best quality bid is having the most accurate and up-to-date current costs as possible in your estimated costs — the more accurate the bid, the more profits for your business.

Bidding 295

Bidding Estimating Profitability Equipment 295

Construction Business Owner

MARCH 1, 2024

Strategic Cost Estimation for Contractors in 2024 ccapoccia Fri, 03/01/2024 - 16:03 As we navigate the complexities of the construction industry in 2024, the ability to provide accurate cost estimations remains the cornerstone of a contractor’s success.

Estimating 156

Estimating Contractors Roads Profitability 156

Construction Business Owner

APRIL 10, 2023

Understanding Tech Options & How They Impact Operations ccapoccia Mon, 04/10/2023 - 08:12 Software selection can be a daunting task, whether it’s for accounting, project management, scheduling, estimating, timecard capture, contact management or another process. Software becomes part of your infrastructure.

Software 316

Software Software Profitability Project Management 316

Construction Business Owner

SEPTEMBER 27, 2013

Project controls, including standardized approaches, processes and reporting, are designed to manage all costs and financial aspects of a project through its life cycle—from initial estimating and budgeting to forecasting, measuring progress, controlling change, reconciling actual expenditures and closing out the project.

Profitability 187

Profitability Life Cycle Forecasting Budget 187

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

Job Order Contracting

FEBRUARY 3, 2025

The industry average of 25% largely reflects the inefficiencies in bid preparation, lack of trust in cost estimates, and inconsistencies in pricing. Enhanced Credibility : Using objective, third-party data builds trust with clients, as it demonstrates a commitment to transparency and fairness in cost estimation.

Bidding 147

Bidding Construction Defense Contractors 147

Job Order Contracting

FEBRUARY 7, 2025

Higher than 11-to-1 will cost your company too much in estimating expenses and will not provide a reasonable profit. I recommend you strive for a 4-to-1 ratio or less for private work.Higher than 11-to-1 will cost your company too much in estimating expenses and will not provide a reasonable profit.

Bidding 100

Bidding Construction Profitability Negotiation 100

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. Quick, accurate estimates can be a fast and efficient way to grow your business. If you’re still using paper to estimate and bid, you know it can be a slow moving, time draining process.

Estimating 130

Estimating Bidding Viewpoint Construction 130

Construction Business Owner

MARCH 27, 2024

Promote to rotator No Rotator Image Status of webinar Featured Maximize profit in your construction business. Thu, 05/09/2024 - 12:00 1:00 p.m. Once the project is complete, you will have an accurate, objective progress record to eliminate doubt and minimize the risk of legal disputes, improving the likelihood of repeat business.

Profitability 156

Profitability Legal Mobility Office 156

Construction Business Owner

MAY 1, 2024

Working in uncertainty can lead to budget overruns, delays and decreased profitability, making it challenging to keep up. This allows you to strategically evaluate and adjust your estimates and budgets based on how prices have fluctuated in past, similar market conditions.

Materials 345

Materials Construction Budget Budgeting 345

Job Order Contracting

NOVEMBER 21, 2023

A fundamental element is Job Order Contracting (JOC) is line item estimating which involves breaking down the cost of construction into discrete, granular tasks, each item representing a specific material, labor, and equipment components. The latter includes studs, wiring, wallboard, etc. Market conditions can fluctuate frequently.

Contract 245

Contract Overhead Estimating Profitability 245

Construction Business Owner

MARCH 29, 2017

Profitability in heavy civil construction begins with the estimate.

Estimating 120

Estimating Software Software Profitability 120

Construction Business Owner

JANUARY 27, 2014

For owners of small to midsize construction firms, juggling all the responsibilities of owning and operating a business—such as accounting, estimating and scheduling—while trying to increase profits can be a daunting task.

Profitability 246

Profitability Schedule Accounting Estimating 246

Job Order Contracting

APRIL 1, 2019

LEAN Construction Cost Estimating Drives Optimal Performance. Currently available robust LEAN construction estimating, procurement, and delivery processes, services, and tools, make it possible to consistently deliver quality projects on-demand, on-budget, and on-time. Remember that a cost estimate is NOT then same a price estimate.

Estimating 130

Estimating Construction Procurement Change Orders 130

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

JANUARY 24, 2025

Managing a project budget is not just about numbers; its about ensuring your business is profitable. At its core, a project budget is the total estimated cost of all the tasks, activities, and materials associated with a project. Did you know that 39% of projects fail due to budget issues?

Budget 121

Budget Budgeting Project Management Contractors 121

Lets Build

JUNE 7, 2019

Whatever your reason for getting into the construction business, a love for job costing and puzzling out profitability likely wasn’t a contributing factor. In a recent study of self-identified business owners, accountants, bookkeepers, estimators, and finance managers within the construction industry, 1.

Estimating 130

Estimating Banking Finance Profitability 130

Job Order Contracting

AUGUST 11, 2018

To estimate, per the Merriam-Webster dictionary, is to produce a statement of the approximate cost. Construction cost estimators know there is a more to it than this definition indicates. Second, there is the estimating process and associated source materials. Estimate Considerations. Contractor Overhead & Profit.

Estimating 100

Estimating Construction CSI Overhead 100

Job Order Contracting

MAY 17, 2017

Optimizing Construction Cost Estimating Outcomes requires experience, LEAN management practices, common data outcomes, metrics, and continuous improvement. Request our white paper to learn more about Optimizing Construction Cost Estimating Outcomes. Size of Typical Construction Cost Estimates & Unit Price Cost Books.

Estimating 100

Estimating Construction Overhead Profitability 100

Cassell Construction Estimating

OCTOBER 5, 2023

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. The importance of a consistent, production‐based estimating system cannot be overstated.

Estimating 100

Estimating Las Vegas Bidding Software 100

Construction Business Owner

JUNE 26, 2013

How many times have your estimators or you uttered the phrase, “That firm is bidding below cost”? About 40 percent of firms in the marketplace do not track their costs with significant rigor to conduct a detailed analysis of bid versus final profit. Understand Your Costs.'

Bidding 205

Bidding Profitability Estimating Contractors 205

BD+C

JULY 8, 2021

With no ulterior profit motive, third-party cost estimators can provide truly unbiased, expert advice to the team. One of the most important contributions that cost professionals can make to a construction project is to help architects deliver the best possible value to their clients.

Estimating 98

Estimating Profitability Construction 98

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

MARCH 27, 2017

Being a good commercial construction cost estimator requires years of experience in the field as well as estimating at a line item level. UPB Application/Use – Specific Considerations for a Commercial Construction Cost Estimator. Demolition: Separate line item costs should be included for demolition as appropriate.

Estimating 100

Estimating Commercial Construction Equipment 100

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 . Ease of use .

Estimating 105

Estimating Software Software Bidding 105

Job Order Contracting

JULY 30, 2018

A Job Orde r Contacting & Line Item Estimating Basics Workshop, and our series of contractor training classes for the Allied States Cooperative Job Order Contracting Services Contract for the State of New Mexico drew the following comments… Very well explained and friendly envir onment! contact-form].

Estimating 100

Estimating New Mexico Contract Change Orders 100

Construction Dive

NOVEMBER 7, 2019

The Swedish firm said a focus on profitability rather than volume helped it beat analysts' estimates.

Profitability 91

Profitability Estimating 91

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. Because preconstruction offers the biggest opportunity to de-risk a project.

Profitability 98

Profitability Bidding Estimating Risk 98