This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
A solid general contractor contract helps you avoid all of that. In this guide, we’re taking a practical look at how these contracts work, what they should cover, and how they’re used in real-world construction across the US and Australia. When things shift as they always do, the contract answers the hard questions.
If so, you understand how poor material management can lead to costly delays and project budget issues. This is the reason material management is not only about logistics. It’s essential to choose effective methods to manage the supply chain and plan the use of materials by subcontractors. Who Is Involved in Material Management?
From floors failing before substantial completion to skyrocketing change orders for never-ending densifier applications to the billions lost through delayed schedules, legal disputes, and contingency hemorrhaging, enough is enough. Owners and design teams are not protected by todays inadequate and vague polished concrete specifications.
For most builders working on larger or bank-financed projects, the SOV acts as a must-have document that breaks down the total contract amount into detailed line items in construction financial management. Scheduled Value per Line Item A dollar amount is assigned to each line item, based on the original contract or subcontract.
This is a reality for any general contractor, whether it’s a small custom home builder or a commercial construction business. In a sense, a general contractor is also actively involved in the hiring process, in addition to bidding jobs and running crews. Low overhead: No need to manage payroll, benefits, or long-term employment.
A new piece of legislation, House Bill 137 (HB 137), has been signed into law, increasing the contract value threshold for payment and performance bonds. This change, effective July 1, 2025, could simplify things for smaller public projects and impact your bid strategies. 13-10-1 et seq. HB 137 is stepping things up!
If you’re in the construction industry and want to keep a closer eye on your company’s financial management to improve your bottom line, this guide is for you. Unlike traditional accounting, it has many moving parts and specific financial management needs. Here’s a quick overview of what you need to know.
What’s costing you more: your materials or the hours lost to messy project management? Construction management software for small businesses can help bring order to the madness. In this article, we’ll walk you through 8 of the best construction management tools built for small teams with real user feedback to help you choose smarter.
In today’s fast-paced construction industry, effective cost management is essential to protect profits and ensure project success. How can contractors consistently stay on top of costs while managing complex projects and service contracts? In construction, no two projects are the same, and costs can vary significantly.
Reading Time: 5 minutes Introduction In a highly digitized sector, construction document management is no longer a luxury but a core necessity that is key for project wins. The article dives deep into construction document management software solutions in the year 2025 that connect with technical and unique features and adoption suitability.
Faster Adjustments : With access to current local data, contractors can quickly and confidently adjust bids to reflect changes in the market, giving them an edge in fast-moving or competitive bid environments. Regular Updates : Ensure the cost database is frequently updated to reflect rapid market changes. Errors of 3040%+ are common.
Since joining the construction industry in 2023 as Granger Construction’s Drone Manager, Nick Ross has significantly elevated the capabilities and contributions of the firm’s in-house Virtual Design and Construction (VDC) program. As luck would have it, he contracted to shoot aerial photography for one of Granger’s projects.
What happens after a general contractor meets a client who wants a house of his dreams? This phase begins well before proposals are sent, contracts are signed, or any physical work begins. Early collaboration with architects, engineers, and even suppliers helps avoid costly changes later on. A builder starts planning.
Technical planning and professional procurement team collaboration and adherence to robust best management practices are needed to mitigate financial and environmental waste. Costs identified specifically with a contract are direct costs of that contract. Five primary questions to be answered are: 1. How was the estimate made?
Granular Local Market Cost Data is Essential for Cost Visibility & Management (Repair, Renovation, Maintenance, & New Builds) Using current, verifiable, and detailed local cost dat a instead of national averages with adjustment factors ensures: Cost transparency All labor, material, and equipment costs are broken down and verifiable.
Yet one unseen factor now shapes which companies win bids, sign contracts, and keep the cranes swinging: online reviews. Studies from trade associations report that more than seventy percent of construction buyers read at least ten reviews before signing a contract. Digital testimonials shorten that trust-building period.
of Transportation on July 16 awarded a $337-million design‑build contract to a team led by Lane Construction Corp., of Transportation on July 16 awarded a $337-million design‑build contract to a team led by Lane Construction Corp., He managed a community newsroom in Santa Monica, covering L.A.’s of Transportation. s Westside.
building codes and standards vary by state and region, but the International Residential Code (IRC) is generally followed. They are generally more affordable and quicker to build, making them suitable for first-time homeowners or those on a tighter budget. Lastly, request a clear cost breakdown and contract.
Introducing Procore Helix, an intelligence layer that powers smarter, more connected ways to build Author: Brian Payne, VP of Product Marketing Construction is changing. But what if we could change that story? Provide instant answers: Ask questions in plain language – "How do I log a change event?"
Effective cash flow management and data accuracy are crucial to maintaining financial health and operational efficiency for construction and service businesses, like specialty and mechanical contractors. In today’s competitive and operationally complex construction industry, businesses face numerous internal and external risks.
This protection is especially important for contractors working under public contracts or large private jobs. Why general liability isn’t enough for most contractors General liability insurance covers the basics injuries to others, accidental property damage, and legal costs. A client walks in, trips, and breaks a wrist.
While design professionals grabbed this bull by the horns years ago, and project estimators soon thereafter, project managers who know how to use AI tools to increase productivity and lessen risk are becoming increasingly common as well – and for good reason. Those who ignore its benefits are at a significant disadvantage.
Guest editor Contracts need more careful preparation to avoid conflicting provisions Guest Editor Dom Turner-Harriss of Watson Farley & Williams LLP laments the inadequate contract preparation that is often found to lie at the heart of construction disputes.
Guest Editor Dom Turner-Harriss of Watson Farley & Williams LLP laments the inadequate contract preparation that is often found to lie at the heart of construction disputes. Technological change, cyber crime and climate change are among the risks that need to be managed more rigorously than ever.
For decades, general contractors stood at the center of every job site, running the show, coordinating teams, and acting as the final word on everything from schedules to budgets. Its about how the industry is naturally evolving, and if general contractors arent watching closely, theyre going to miss the signsand the opportunity to adapt.
Babaian Photos and illustrations courtesy Simpson Gumpertz & Heger (SGH) In its most general form, exterior insulation and finish systems (EIFS) consist of expanded polystyrene (EPS) insulation board coated with a reinforced polymer-modified cementitious base coat and a polymer-based finish coat. By Alex Ardelean, Elizabeth V.
When thinking about the difference between construction accounting and regular accounting, you’re likely to consider the challenges of the construction industry such as managing cash flow, cost overruns, and compliance. Cash Flow Management Construction projects are generally executed over a long period of time (i.e.
Let’s break down how general contractor financing works, what builders can offer, and how it benefits both sides of the deal. Table of Contents What Is General Contractor Financing? When used well, this financing method helps general contractors front-load materials and labor without draining operating capital.
Despite the name change – from Reinforced Earth to Geoquest Australia – one thing that’s remained consistent is the company’s ability to cater for major infrastructure projects. Rhys Senior, Regional Manager, Western Australia – Geoquest Australia says the company begins with early and proactive engagement.
Last Updated on November 11, 2024 In today’s fast-paced construction industry, effective cost management is essential to protect profits and ensure project success. How can contractors consistently stay on top of costs while managing complex projects and service contracts?
Contract Preparation Work with your architect or solicitor to prepare a comprehensive building contract that protects all parties. Standard industry contracts from organisations like HIA or Master Builders provide good frameworks, but ensure specific project requirements are documented.
—then known as Ryan Lumber and Coal—expanded in 1949 into owning, financing and managing the real estate that the coal and lumber company built. We’re known as a general contractor, but we are also a fairly large regional architect. A significant amount of managed space is in Minnesota and Iowa.
It’s one of those terms that pops up around contracts, payments, and bank-financed projects, usually when you’re knee-deep in paperwork or waiting on a bill. This schedule is typically agreed upon before construction begins and is often attached to the contract or loan agreement. 10% upon excavation) or completed phases (e.g.,
However, managing these RFIs, especially in large-scale projects with numerous participants, can quickly spiral into a chaotic whirlwind of emails, spreadsheets, and phone calls. Version control features track changes and maintain a complete history of revisions, ensuring accuracy and transparency.
This includes contractors familiarising themselves with local conditions, reviewing all contract documents, and performing work according to acceptable workmanship standards. Site visits, contract document reviews, and adherence to acceptable workmanship standards are crucial for preventing these defects.
But beyond just cost savings, kit homes are changing the way Australians think about property ownership and development. With rising construction costs, labor shortages, and changing lifestyle demands, Kit homes Australia are positioned as a practical solution that can add real value—both financially and in everyday living.
On top of providing products, ABFI Steel Group can also assist with project logistics and management. None of this is the result of luck, as GeneralManager Jake Bienke can attest. GeneralManager Jake Bienke was part of the first ever group of employees in 2012. One thing that hasnt changed is our team culture.
of Environmental Protection is working at street level to manage stormwater. Aggarwala described the model in a statement as a “major milestone,” adding, “The data gathered will guide our future stormwater management decision-making.” He managed a community newsroom in Santa Monica, covering L.A.’s Commissioner Rohit T.
These changes haven’t manifested uniformly across all project types or geographical areas. Historical patterns show construction often lags behind general economic downturns, meaning today’s cost moderation might foreshadow tomorrow’s more significant contraction. Residential faces mixed signals.
Contracts are Long-Term The length of time from recording the signatures on a contract to finishing the building and handing it over to the customer is another factor. This time frame is much longer than the shorter contracts that other industries work with. Many construction project contracts span several years.
Example: A general contractor in Texas found an old complaint about an unrelated subcontractor attached to their company name. It cost them a $750,000 commercial contract because the client didnt bother to ask for clarificationthey just moved on. Managing your online reputation is the same. Dont just spam both.
National Park Service Work on the project has been carried out in phases due to the limited construction season in the park, generally lasting from April to October. Jon Lowe, Project Manager, Ralph L. The contracts we had with the hotels ended in May. Photo courtesy U.S. It will be demolished once the new bridge is completed.
In an industry, where cost overruns are common and cash flow can be unpredictable, understanding the nuances of accounting aspects like accounts receivable , indirect costs, and the balance sheet is essential to the successful management of your service and construction operations.
AECOM Tishman is construction manager for the $271-million deck-over project, with MLJ Contracting serving as general contractor. Program management services for the redevelopment are being provided by a joint venture of Louis Berger and HNTB. acres of publicly accessible open space.
We organize all of the trending information in your field so you don't have to. Join 79,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content