One of the most important skills needed to run a successful contracting business is the ability to prepare accurate project estimates. If a contractor’s estimates aren’t accurate, there is a risk of losing money on the project. Developing a precise project estimate requires attention to detail and should adhere to the best practices of the industry. Estimators have told us that following six steps will help ensure that estimates are accurate and on point for every project.
Varsha Bhave is the driving force for innovation and technological prowess in the construction industry, taking much of her inspiration from past experience and exceptional technical expertise. Varsha has previously worked with several cities as a city planner before eventually joining the City of Arlington, Texas, as a statistical analyst and long range senior planner.
One of the main issues construction companies struggle with is poor productivity. In fact, statistics show that 49.6% of time in construction is devoted to wasteful activity. There are many different reasons that productivity, and thus profitability, can be poor. Delays in receiving materials, an unrealistic master schedule, lack of communication between staff, delays in approvals, and scarcity of equipment are just a few of the factors contractors are battling with.
Automated photo documentation is one of the simplest steps a GC can take to improve cost, efficiency, and safety through applied technology. It is widely accepted as a best practice to provide as-built documentation, simplify project management, and improve stakeholder transparency. The key is to deploy a system that is fully automated and cost effective so that it provides the full ROI potential.
Are you ready to take the plunge and choose project-management software to manage your construction or engineering firm’s growing portfolio? Upgrading your infrastructure can seem like an overwhelming task, but it’s a critical step in scaling your operations. Picking the right tool takes forethought and discipline to avoid falling into the one-size-fits-all trap.
Everybody seems to be talking about data these days. It’s clear, big data is no longer a topic reserved for huge companies. People and businesses are generating more data than ever before and many companies are beginning to realize the goldmine that is available at their fingertips. Companies that are able to collect and convert data into enhanced decision-making are spurring a new era of innovation and achieving a competitive advantage.
It wasn’t very long ago that construction projects were bid and managed with Microsoft Excel spreadsheets. Fact is, many companies still do it this way. Our industry has always waited until a new tech item was proven out by the few companies willing to try new products in hopes of differentiating themselves and finding a competitive advantage.
Prospects for the homebuilding industry are bullish for 2018, with a 7.9% projected increase in single-family starts throughout 2017, according to NAHB. Beyond a rising housing market, low unemployment, and a booming stock market that has rapidly grown buyers’ savings, there is a remarkable growth catalyst in our industry that deserves credit.
Creating a better customer experience all starts with remembering the most important part of any construction project—the process for the customer. Many in the construction industry tend to forget about the process, and focus on the finished product, but the process is truly where the experience lies.
It has been reported that 2017 was a vigorous year for the new home construction industry. CNBC reported, November statistics single-family homebuilding and permits in the U.S. climbing to highs not seen in 10 years. Unfortunately for builders, the market for new homes has returned without the workers to build them.