From the category archives: Business

Business

Four Keys to Properly Pricing Equipment

Equipment accounts for a large percentage of the costs on most construction projects. Contractors that do not properly track their equipment costs may lose the chance to recoup the substantial money they have spent to rent or own their machines.

Building a Fraud-Free Worksite

The sheer complexity of the construction industry leaves businesses vulnerable to a litany of fraud schemes, the majority of which are not new. However, organizations can implement anti-fraud controls to limit the risk of corruption and ensure an effective compliance program.

Deriving the Most Value From an MIS

Some red flags that indicate a contractor’s MIS may not be functioning properly include key project and financial reports that are difficult to understand or interpret; projects that exhibit late-stage profit fades; unexpected or unexplained unfavorable cash flow issues; or projects that consistently reflect late-stage under-billed positions.

Cloud-Based GPS: A Future-Proof Investment

Within seconds, a cloud-based solution can turn any construction fleet  into a more efficient, safer and results-based operation for a price that will ensure incredible ROI from the start and future-proof the  investment for the future.

Need to Know: Updates to the 2014 MasterFormat

In April 2014 CSI and Construction Specifications Canada released the newest update to MasterFormat, incorporating hundreds of changes to the 2012 version.

Pre-Sale Strategies for Boosting the Value of a Business

A thoughtful and well-constructed exit strategy can help maximize the value of a business, as well as benefit future management. An owner’s transition out of the business can be overwhelming and typically takes several years from planning to actually closing a deal. The following tips address how to implement a proactive approach to improving the overall value of the business.

Contractors Value IT, But Don’t Invest Strategically

Nineteen percent of contractors don’t know how much is spent on IT compared to annual revenue, and two out of four firms spent less than 1 percent of revenue on IT.

A 'Fab' Investment

When the economy is down, prefabrication is used to be more price competitive. When the economy is coming back, prefabrication is a strategy for contractors to do a larger volume of work without having to increase their workforce in the field. Companies with $10 million to $15 million in annual sales are getting serious about single-trade prefabrication. Larger companies are starting to focus on multi-trade fabrication.

Modular and Prefabrication: A Response to Skills Shortages

While expanding skilled craft training programs and forging partnerships with high schools, vocational schools, community colleges and universities represent productive pursuits, the reality is many young workers do not appear inclined to enter the construction trades. One potential response is to simplify the onsite construction process through modularization and prefabrication.

The Pursuit of Operational Perfection - Part 2

Construction organizations that aggressively strive to incrementally improve the quality of the conditions of their production environment while in the pursuit of daily crew production flow will differentiate themselves from their competitors. They will enjoy significantly improved productivity as they get closer to their vision of zero incidents and zero defects.

 

How do you tap into employees’ most valuable talents and talk to them about career advancement?
"One of our company’s greatest strengths is that it is employee owned. Our more...

Bringing Health Care to Retail Centers
With hospital stays becoming more expensive, the federal government reducing...

Crowdsourcing a Charitable Beneficiary
In March, Faith Technologies, Menasha, Wis., gave $5,000 to the Boys & Girls...

Capital Infusion: How to Optimize Forthcoming Construction Lending
Many areas of the United States are seeing a resurgence in construction starts...

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