Construction projects are notorious for delays, but contractors create project schedules to keep them on track. They do this during the planning process, so there are minimal risks and surprises once the execution phase begins. Yet, no construction schedule is the...
Every construction project is unique and defies standardization. On the other hand, the lifecycle of all construction projects, from renovating a basement to building a bridge, follows a similar pattern which can be described through the five key phases of...
Understanding the difference between hard costs and soft costs in construction is vital when building a project budget. Responsible project managers and proposal teams attempt to project a budget that lands as close as possible to the final cost. Knowing what hard...
Billions of dollars and millions of work hours are spent on construction rework every year. No construction project is safe from its negative impacts—lower productivity, profitability, and friction between stakeholders. Fortunately, there are things you can do to...
Construction cost estimation is difficult, especially since countless potential setbacks can derail your initial projections and create additional costs at any moment. But that doesn’t mean you shouldn’t strive to make your estimates as accurate as possible. Let...
Why do so many construction businesses shut down? The answer is negative cash flow, or in other words, the company’s inability to cover expenses. So, to finance their projects, companies need a better understanding of their cash flow and take actionable steps to...
