As nearly anyone who works in commercial construction will tell you, delays are a big problem in the industry. How big? A McKinsey study found that a staggering 98 percent of megaprojects (those with budgets over $1 billion) faced cost overruns or delays. Another study found that 60 percent of construction cost overruns at all […]
Category: Education
8 Construction Risks Facing the Construction Industry and How to Reduce
Construction is a risky industry. Each project is unique and individualized, with its challenges and outcomes. Risk can appear in any form and at any stage of the construction process. Lack of risk mitigation can result in threats of budget, profitability, efficiency, and project schedules. One of the trickiest parts of the building process is […]
Writing an Electrical Contractor Quality Control Plan
Want to know how to assure your client that your electrical project is safe and follows contractual requirements? Incorporate an electrical contractor quality control plan into your operations to ensure that your client can use the building. Businesses that use a construction quality control plan for their projects can ensure that quality issues won’t […]
7 Signs You Need an Electrical Contractor
Electrical contractors are some of the most important people on a job site. They are responsible for the design, installation, and maintenance of electrical systems in a construction project. An electrical contractor is also responsible for ensuring that the systems are safe, functional, and environmentally friendly. In addition to providing an essential job […]
How to Create Successful Collaborative Construction
Working together is a part of everyday life in the business world; it’s necessary to be able to work cohesively with your team to succeed. But we’re all familiar with the feeling of everyone on your team not being on the same page. It can get frustrating, especially in a workplace environment where it feels […]
4 Tips for Reducing Construction Costs
With local economies improving in many places around the world, the number of new commercial construction projects is growing. Managers for commercial construction projects have many tasks to handle at once, especially when the number of expected projects to complete is continuously increasing. Construction project managers must do market research, communicate with the owners of […]
5 Healthcare Construction Best Practices
Embracing technology is key to getting ahead in construction. The same goes for the multi-billion-dollar sector of construction, healthcare construction.
10 Tips to Increase Construction Productivity
The construction industry is one of the leaders in the world’s economy. In the U.S. alone, annual construction spending is estimated to be $1.2 billion. What is more, around 7% of the world’s population is working in the construction industry. Although there is a significant amount of money spent in this industry, studies have shown that […]
Top 8 Causes of Cost Overruns in Construction
Cost overruns are the unfortunate norm in the construction industry, which is notorious for being late and over budget. Additionally, the construction industry’s productivity has been pretty stagnant year over year, with almost 90% of construction workers classifying the industry as unproductive. To understand the causes of cost overruns and why they are so typical […]
7 Benefits of Prefabrication in Construction
What is Prefabrication? Prefabrication is the process of making buildings, or components of buildings, in a different location than the job site itself. Construction companies will transport the completed unit to the final site, where they will also complete the setup and handover buildings to their new owners. This process eliminates the need for traditionally […]
How to Estimate a Construction Project
Accurate cost estimation for a construction project is crucial for creating and maintaining a budget for project costs. Read more to learn how to estimate a construction project. Article Overview: — Construction project estimate terminology that you need to learn and know. — Key elements of a construction project estimate to ensure accuracy and getting […]
10 Tips for Holding a Safety Stand-Down
Construction is a dangerous industry; workers are susceptible to injury because they face a wide range of hazards on job sites. The most common injuries in the construction industry stem from collapsed scaffolding, falling from heights, electrocution, failing to use correct protective gear, and collapsing trenches. Occupational Safety and Health Administration (OSHA) under the US […]
The Difference Between Site Instruction vs. Change Order
The Difference Between Site Instruction vs. Change Order Construction terminology is essential to understand. Not only do construction managers need to be well versed in terms such as site instruction vs. change order, but everyone in the construction industry, including, but not limited to, the general contractor, designers, and engineers should be familiar with basic […]
An overview of lien waivers in construction
Getting paid in the construction industry can be a long and frustrating journey. The payment process for contractors takes an average of 83 days – one of the longest of any industry in the world. Contractors have a variety of tools available to help them reduce financial risk, improve their cash flow, and speed up […]
Quote vs. Estimate In Construction: What’s the Difference?
If you’re in the construction industry, it’s not uncommon for people to talk about quotes, estimates, bids, and proposals and use the words interchangeably. So, which term wins in the battle for construction supremacy? Find out below in Quote vs. Estimate in Construction: What’s the Difference? Depending on where you’re from, you might walk onto […]