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As construction and design firms are using BIM software and other resources to improve construction efficiency, that integration is only going to increase. Owners, contractors and designers must understand their potential liability for design issues on a project before the project starts.
This article outlines three important documents that you’ll need in order to start and run a profitable business. A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Insurance is perhaps the most important thing to arrange before starting a construction company.
Resource Center. Querying different type of jobs in job costing to look at profitability by type. Do some research and check out some of the resources, tools, and software programs available to you. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. foundation.
Resource Center. If a business is unprofitable in 2011, and has no taxable income to use the deduction, that business can elect to use 100% Bonus Depreciation and carry-forward to a year when the business is profitable. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. Green Building.
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Resource Center. Place your best talents and resources on your greatest opportunities, and don’t be afraid to obsess with continually improving and being the best. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Sales/Marketing.
If both have all the resources needed to complete a job, why does Bob continue to stand out? Rigorous oversight, extensive use of Personal Protective Equipment (PPE), and investment in safety and compliance training drive Bob’s profits well above industry averages. Here’s where things change. Let’s look at why that is.
Resource Center. Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. Public Exposure and Liability on Construction Sites. Accounting & Finance.
But that’s not all, the DoD doesn’t leverage current system thinking and robust, integrated planning, procurement, and project delivery workflows to maximize utilization of resource. JOC unit prices include direct material, labor and equipment costs, but not indirect costs or profits which are addressed in the coefficient(s).
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Resource Center. Save Time, Resources – File Electronically » Simplified Decision Making – Getting People and Processes In Order. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing.
Resource Center. And risk can be a profit center, since insurance companies obviously make money. By doing these things, they are in a position to “take over” risk from others who don’t have the knowledge, resources, or desire to manage risk themselves. Public Exposure and Liability on Construction Sites.
Resource Center. Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” The profit you calculate when bidding a job can fluctuate dramatically as work progresses. Accounting & Finance. Construction Law. Industry News.
Resource Center. The Expensive Process of Bidding » Save Time, Resources – File Electronically. Be sure to make your accounting software work for you, and while you’re at it, reduce the time and resources you and your staff spend filing. Public Exposure and Liability on Construction Sites. Accounting & Finance.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Every firm has its fee floor for profitability. Below this limit, the firm, by its nature, cannot produce profits, as it will automatically invest too many resources. Professional Liability Risk. Asbestos connected, hazardous waste, rehab and condominium projects may all carry high liability potential.
Resource Center. Committing Intentional Project Communications » Public Exposure and Liability on Construction Sites. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Ask the Expert.
Resource Center. « Save Time, Resources – File Electronically. Do they have the financial resources to complete a job; is their insurance up-to-date; how does their safety record look; what do their references say about their recent work; what experience do others in my company have with them? Accounting & Finance.
Increasing a firm’s value to their clients improves client loyalty, referrals, profitability, marketing, staff performance and retention, and reduces liability. PSMJ Resources, Inc. Subscribe To PSMJ Resources, Inc. Importance of Human Resources. About PSMJ Resources. PSMJ Resources, Inc.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Satisfying clients, making a profit, hitting deadlines, meeting professional standards, and avoiding liability actions all create stress on A/E/C project teams. Project managers that master these normal stress inducers report lower turnover, higher productivity and profits, and increased work satisfaction among their team members.
Resource Center. Free Webinar on Reducing Profit Fade » Game Changers. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory.
Resource Center. But to count on them as the source of profit is to bank on an unpredictable variable that is not under your control, that is hard to manage, and that you may wish to use for a completely different purpose – business development (more on this in a moment). Public Exposure and Liability on Construction Sites.
Resource Center. These are risk takers, men and women who are driven to hustle and make a profit—not the sitting still type. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Ask the Expert.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Resource Center. In fact, I often wonder how smaller construction businesses with tighter margins can compete with the gigantic firms who have unlimited resources. In the end, jobs must translate to bottom-line profitability.” Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law.
That gives your firm the fiscal strength and confidence to pitch positively for future work, without overruns or remediation eating into profit margins at this time of unexpectedly high inflation. It also demonstrates a high level of competence, which will be appealing to past and prospective clients alike. Creating a plan.
Resource Center. Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing.
Resource Center. But without exception, the story that each team told through their symbols focused on people, not projects or profits. No discussion of business practices, financial measurements, or profit-building strategies. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law.
Resource Center. Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. If leadership success was measured only on profitability, then there were certainly many “great leaders” sitting in the CEO position of many contracting companies. Green Building.
Resource Center. Staying Focused in the Fight Against Profit Fade » Connecting in Construction. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Ask the Expert.
Resource Center. « Staying Focused in the Fight Against Profit Fade. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
Resource Center. Some call it smart resource allocation while others call it a best practice. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Ask the Expert.
Resource Center. Foundation Software has been profitable in each of its years of business since 1985. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Ask the Expert.
Resource Center. But the point at which the office meets the field – where job progress is tracked, profitability is calculated, invoices and change orders are processed – this is the point where bad (or no) communications between the field and the office results in diminished performance and profits. Green Building.
Resource Center. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory. Ask the Expert. Hardhat Connect. Industry News. Forms and Checklists.
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Resource Center. The following are the primary costs to consider for both options: Hosting Services: Server resources. Whether you self-host or you outsource, moving more software resources to the cloud will mean changes in bandwidth usage at your company. Public Exposure and Liability on Construction Sites. Data storage.
For many firms, the difference between profit and loss on a. This may be important for professional liability reasons. When you must bill for an extra or a change, bill promptly and at rates that deliver a profit by themselves. PSMJ Resources, Inc. Subscribe To PSMJ Resources, Inc. Importance of Human Resources.
Resource Center. Education leads to improvement, efficiency, and profitability! Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. Equipment and Services Directory.
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