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Construction

Construction

The Design-Build Model: It’s Still a Thing

The Design-Build Model: It’s Still a Thing

Under the design-build model, one entity performs the architecture, engineering and construction components of a project all under a single contract. The concept is nothing new. In fact, it’s been about 20 years since the Construction Industry Institute...

Cost-Conscious Contractor Tries “Print as a Service”

Cost-Conscious Contractor Tries “Print as a Service”

Construction Success StoryA long-time general contractor in a densely populated urban area had managed to keep his old, clunky large-format printer going for many years. And this was in addition to several other outdated smaller printers scattered...

Now’s a Good Time to Rethink Your Accounting Method

Now’s a Good Time to Rethink Your Accounting Method

Although the Tax Cuts and Jobs Act (TCJA) was signed into law more than a year ago, its impact continues to reverberate. Just one example of this is that, because of changes wrought by the law, many construction companies can now choose from a wider...

Recognize the Typical Schemes of Subcontractor Fraud

Recognize the Typical Schemes of Subcontractor Fraud

General contractors usually have good relationships with their subcontractors. But fraud happens in every industry. As a risk management measure, it’s important to recognize typical subcontractor fraud schemes so you can protect your construction company...

Four Reasons Why Construction Companies Fail

Four Reasons Why Construction Companies Fail

Construction is a risky business. Most contractors like to stay positive, but it can be productive from a strategic planning perspective to think worst-case scenario: What could cause the demise of your company? Here are four common reasons for construction business...

Protecting Your Heavy Equipment From Jobsite Theft

Protecting Your Heavy Equipment From Jobsite Theft

A full-size construction excavator can weigh upwards of 90 tons. That level of heft would seem to make it next to impossible to steal. But you’d be surprised, most unpleasantly, to learn that heavy equipment is indeed stolen from jobsites. In its 2016 Construction...

Homebuilder Looks to Up Its Telematics Game

Homebuilder Looks to Up Its Telematics Game

Construction Success StoryA construction company that specializes in building and servicing luxury residences bought into telematics early. Its vehicles have been GPS equipped and tracked for years, saving the business thousands in theft prevention and...

How to Gain More Control Over Workers’ Comp Costs

Paying for insurance is all part of the cost of being in the construction business. But that doesn’t mean contractors can’t take a closer look at their coverage and find ways to save.Like many contractors, you may have noticed that workers’ compensation premiums are...

Applying Heinrich’s Law to Project Safety

Applying Heinrich’s Law to Project Safety

It goes without saying that no contractor sets out to create an unsafe jobsite. Given the randomness of accidents, you might think that predicting when something will go wrong is next to impossible. Not necessarily.There are a variety of predictability...

Is It Time For Your Business to Embrace EAPs?

Is It Time For Your Business to Embrace EAPs?

If your company doesn’t offer employee assistance plans (EAPs), consider some statistics. The construction industry has the highest number of suicides and the second-highest suicide rate among major occupational groups, according to a 2016 report by the...

Six Ways BIM Will Impact the Industry in 2019

Six Ways BIM Will Impact the Industry in 2019

Building information modeling (BIM) has been changing the landscape of construction for a significant period of time.During design and preconstruction, BIM models can better predict job costs and identify potential problems before work begins — reducing...

Always Be Building (The Bottom Line)

Always Be Building (The Bottom Line)

How to maintain your construction company’s net profitsA construction company may do many great things to operate profitably. But when expenses come due, its bottom line may not look so hot. Sound familiar?Construction can be one of the most inherently...

Preparing For a Project Owner’s Audit

Preparing For a Project Owner’s Audit

Construction Success Story An asphalt contractor in a busy metropolitan area had specialized for years in paving small parking lots, golf cart paths and residential driveways. Now he was looking to expand into paving public roads. As the contractor reviewed bid...

Don’t Let Your Company Become a Cyber Target

Don’t Let Your Company Become a Cyber Target

You may think your construction business is an unlikely target for cyberattacks. After all, hackers are more interested in organizations such as banks and retail chains that store the sensitive data of millions of customers, right?Not necessarily. As the...

How Sound Are Your Financial Statements?

How Sound Are Your Financial Statements?

Don’t underestimate their inherent informative valueMany contractors labor under the false impression that financial statements are what their accounting software lists under “standard reports.” Others believe that their in-house bookkeeper can draw up...

In Construction, Dispute Resolution Is a Many-Splendored Thing

In Construction, Dispute Resolution Is a Many-Splendored Thing

Those of a certain age may remember the old movie (and song) called “Love Is a Many-Splendored Thing.” In the construction industry, there can be a decided lack of love on any given project if a dispute arises between your company and an owner or other...

Gearing Up For The Internet of Things

Gearing Up For The Internet of Things

Just as the Internet has changed how humans interact, the Internet of Things (IoT) is beginning to change the way inanimate objects communicate with one another and how we interact with those objects. (This typically pertains to building...

From Enemy to Ally

From Enemy to Ally

Recognizing and accounting for indirect costsIndirect costs are necessary costs. In today’s construction industry, every project must be held accountable for its own expenses — in as much detail as possible.Thus, contractors need to systematically identify...

Get Ready to Put TCJA’s Depreciation Breaks Into Action

Get Ready to Put TCJA’s Depreciation Breaks Into Action

Taking full advantage of depreciation tax breaks is a time-honored tradition for construction company owners. And this year is no different.In fact, it’s even more potentially beneficial under the changes wrought by the Tax Cuts and Jobs Act (TCJA). So,...

Greener Projects Lead General Contractor to an EMS

Greener Projects Lead General Contractor to an EMS

Construction Success StoryA general contractor in a fast-growing, outlying suburban area had noticed that more and more of her projects were getting stricter about sustainable building practices. And it was costing her. Several times over the past few...

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