A Contractor’s Guide to Working Capital: Managing & Measuring Liquidity
Working capital is a financial metric that business owners cannot ignore. It’s one of the most important metrics you need to be aware of, and represents the difference between a company’s current assets and current liabilities. It is a measure of a company’s short-term financial health and its ability to cover immediate expenses. The components […]
10 Vital Construction KPIs for Measuring Success
In the construction industry measuring success goes beyond completing a project on time and within budget. 43% of construction firms prioritize immediate financial goals over organizational resilience. To achieve financial goals, project managers need to ensure efficiency, quality, and safety. This is where Key Performance Indicators (KPIs) come into play. What are construction KPIs? A […]
Essential Skills Every Construction Estimator Must Have (From An Estimator With Over 20 Years of Experience)
A construction estimator plays a pivotal role in the construction industry, responsible for forecasting project costs and ensuring projects stay within budget. Accurate construction estimating is crucial for the financial health of a project and its timely completion and overall success. For a comprehensive overview of construction estimating, check out our Construction Estimating Guide. Possessing […]
15 Most Common Construction Estimating Mistakes
Accurate construction estimating is crucial for the success of any construction project. Mistakes in construction estimates can lead to budget overruns, project delays, and client dissatisfaction. By understanding and avoiding common estimating mistakes, you can ensure that your projects stay on track and within budget. 1. Failure to Visit the Site Not conducting an on-site […]
Commercial vs Residential Estimating – Key Similarities & Differences Explained By a Seasoned Professional
Construction estimating is a critical process in the planning and execution of any building project, serving as the blueprint for budgeting and resource allocation. Whether it’s a sprawling commercial complex or a cozy residential home, accurate estimating ensures that projects are completed on budget and on time. The Significance of Knowing the Differences Diving into […]
Contractor’s Guide to Builder’s Risk Insurance – Master Estimators
Builders risk insurance is a critical safeguard for contractors, providing protection against various unforeseen events that can disrupt construction projects. This type of insurance helps mitigate financial risks, ensuring that projects can proceed smoothly even when unexpected challenges arise. What is Builders Risk Insurance? Builders risk insurance is a specialized type of property insurance designed […]
8 Key Types of Construction Contracts [Definition + Templates]
Picking the perfect construction contract isn’t just paperwork—it’s a crucial step that shapes the success of your project. The right contract sets clear expectations, defines roles, and keeps everyone on the same page. It’s about making sure that every dollar and every day counts. Check out our insights on effective construction management in our Guide […]
How To Improve Accuracy of Estimates
In the construction industry, the accuracy of your estimates can make or break a project. Precise estimating is not just about setting a budget—it’s about laying the groundwork for project success. Every construction project hinges on estimates to determine the scope, allocate resources effectively, and manage finances efficiently. When estimates are accurate, projects are more […]
Ultimate Guide to Construction Management
What is Construction Management Construction management involves all aspects of a building project, bridging the gap from the earliest planning stages through to the final result. This role is very important when it comes to transforming a blueprint into a fully realized structure. It’ll ensure that the vision not only takes physical form but also […]
10 Best Construction Estimating Software Programs of 2024
The construction industry continues to embrace technological advancements – especially when it comes to estimating software. Accurate and efficient construction estimates are crucial for project planning, budgeting and cash flow forecasting. From Drywall Estimating, to Millwork Estimating, the right construction estimating software can significantly streamline this process, reduce errors, and save valuable time. Today we’ll […]