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Construction Articles

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LEED Isn’t the Only Green-Building Game in Town

LEED Isn’t the Only Green-Building Game in Town

Mention “green building” and most contractors think of the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program. LEED may be the front-runner in green building rating systems, but it’s not the only game in town. Here are some...

Industry Trends: Megaprojects are on the Rise

Industry Trends: Megaprojects are on the Rise

They’re big, and they’re big business. Megaprojects — large-scale and often high-profile construction projects that cost $1 billion or more — are taking the industry by storm.When compared with “standard” projects, megaprojects are a different animal. They have...

Reviewing the Finer Points of the Section 199A Tax Deduction

Reviewing the Finer Points of the Section 199A Tax Deduction

It’s been over a year since the IRS issued final regulations regarding Internal Revenue Code Section 199A. This Code Section created a tax deduction enabling owners of sole proprietorships, partnerships, limited liability companies and S corporations to write off up...

Four Ways AI is Impacting the Construction Industry

Four Ways AI is Impacting the Construction Industry

Thanks in part to the Internet (of Things) and cloud computing, artificial intelligence (AI) has transitioned from science fiction to everyday life. The impact of AI is already felt throughout our daily lives — from automated spam email detection to viewing...

Walk the Talk: Prioritizing Company Core Values

Walk the Talk: Prioritizing Company Core Values

Do your employees know your construction company’s core values? Are they (and you) applying these values to daily operations and decision making? Are you using the values to build your brand and reputation in the marketplace?If you had a hard time answering the above...

Viewing Your Lender as a Business Partner

Viewing Your Lender as a Business Partner

It’s easy to get intimidated when applying for a business loan. You have the need; the bank has the money — how can you win them over? One way to lower the stress level is to view your lender as a partner rather than a gatekeeper. After all, it needs your business...

Four Reasons to Review Your Business Plan at Year End

Four Reasons to Review Your Business Plan at Year End

Nearly all construction companies began with a business plan — or should have. It’s the road map that outlines the company’s goals and provides details on how it will achieve them. But, once a business is up and running, the document tends to get buried either in a...

Contractor Ponders the ROI of Wearable Technology

Contractor Ponders the ROI of Wearable Technology

A contractor who specializes in building and renovating medical facilities loves his gadgets. Recently, he read an article on the potential of “wearable tech” — data-gathering items that can be affixed to construction workers’ clothing. Having been burned on expensive...

Contain the Creep by Carefully Managing Project Scope

Contain the Creep by Carefully Managing Project Scope

No one likes a creep. When it comes to construction projects, one kind of creep to avoid is scope creep. This is when the actual work performed on a job gradually expands beyond the contract parameters without compensatory change orders.Essentially, you end up doing a...

Be Mindful About Subcontractor Retainage

Be Mindful About Subcontractor Retainage

Most construction projects succeed because of the strong relationships between the general contractor and subcontractors. This prosperous rapport is typically built on trust — through experience — that the other party is going to fulfill its obligations and not create...

Reluctant Contractor Looks for “Likes” on Social Media

Reluctant Contractor Looks for “Likes” on Social Media

A high-end homebuilder in a growing suburban area had been slow to adapt to social media. She didn’t think much of it until she stumbled across a competitor’s Facebook page and saw all the likes and comments. While visiting her CPA on other business, she...

A Busy Industry: M&A Activity is Hot in Construction

A Busy Industry: M&A Activity is Hot in Construction

The construction industry was busy last year — not only with the business of building, but also with mergers and acquisitions (M&A). A record 534 M&A transactions were announced in 2018, according to 2019 M&A Trends for Engineering and...

Control Job Costs with Smarter Materials Management

Control Job Costs with Smarter Materials Management

Managing project costs can get tricky — especially in today’s construction materials marketplace. Materials represent a major budget item, and their overall cost has been rising since 2017, thanks largely to trade tariffs enacted in 2018.This year, the...

Entity Choice May Evolve with Your Company

Entity Choice May Evolve with Your Company

Construction companies are typically organized around the specific talents of a group of individuals. After all, the distinctive proficiencies involved with constructing, renovating, repairing and maintaining buildings aren’t “entry level” skills. They’re...

Turning Your Surety’s Frown Upside-Down

Turning Your Surety’s Frown Upside-Down

Bad luck and unforeseen circumstances can put any construction company in jeopardy of losing bonding capacity or even ending its relationship with a surety altogether. If you find yourself on the outs with your bonding agent, there are some fundamental...

How CRM Software Can Help Build Business Relationships

How CRM Software Can Help Build Business Relationships

In construction, building relationships can be just as important as building structures. Project owners tend to award jobs at least partly based on how well they know and trust a contractor. That’s why developing rapport with clients and understanding...

Achieve True Payroll Enlightenment

Achieve True Payroll Enlightenment

Setting Up Automated Accruals of Benefits and Insurance CostsFor all types of companies, construction businesses included, payroll costs go far beyond compensation meted out every week or two. Contractors, however, really need to understand the total cost...

Contractor Looks Out for Everyone With a SEP-IRA

Contractor Looks Out for Everyone With a SEP-IRA

Construction Success StoryThe owner of a small subcontracting company was feeling the squeeze. Some new competitors had sprung up in his market and he knew that paying his workers wages alone might not be enough to keep them. He also needed to start...

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

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...

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