From the category archives: Business

Business

Study Reveals Less Volatility in Remodeling Market

In comparing new construction and commercial remodels during the course of the Great Recession, BuildFax found additions, remodels and alterations dipped 9.7 percent at their lowest point (versus pre-crisis levels), while new construction permits plunged 43 percent between 2008 and 2011.

Report Examines DNA Of Construction Entrepreneurs

  Sixty-two percent of construction small business owners have seen increases in revenue and 64 percent have seen profits increase, according to Hiscox’s eighth annual DNA of an Entrepreneur report.

Merit Shop Scorecard Grades State Construction Policies

  Louisiana, Virginia and North Carolina earned the top three rankings in Associated Builders and Contractors’ latest update to “Building America: The Merit Shop Scorecard."

What’s One Thing Your Company Wants to Achieve or Do Differently This Year?

  In 2017, we will focus on the development and strategic execution of these new efforts, as well as targeted and strategic marketing efforts based on our vertical markets and areas of expertise.

It’s Time to Talk About Occupational Fraud

Safeguarding assets from fraud is an important objective for every company. It will take an all-hands-on-deck approach to be successful, and it starts at the top.  

Working Backward From a Budget With Target Value Design

When construction firms help owners get the absolute most out of every dollar of their investment, they can not only win the work, but also earn a client for life. Rather than letting design drive the budget, which often results in the need to “value engineer” later in the process, target value design is an approach in which the budget drives design decisions, occurring very early in preconstruction. 

Industry Game-Changers

Typically, disruption in the workplace is counterintuitive to productivity. But in terms of creating innovative ways to manage people, processes and technology, the concept of “disruption” isn’t such a bad thing for the construction industry. Change is stirring whether contractors are ready for it or not, and firms that have adopted new ways of managing scheduling and workflows are seeing stellar results—earning the accolades of repeat projects for key clients, as well as happy project partners.

Five Tips for Getting the Business Intelligence Dashboard You Want

Select a business intelligence solution that acts like Switzerland: willing to work with any data source out of the box. 

Internal Controls Prevent Construction Losses

Internal controls stem from the idea that no one individual should have complete control over a given transaction process and that there should be proper segregation of duties among individuals involved in every process. By spreading responsibilities among employees, companies can mitigate the risk of fraud. Practically speaking, this means separating the preparation, recording and approval of a transaction among multiple people.

2017 Tech Predictions

  When Star Trek™ debuted 50 years ago, who would have thought the technology employed on the Starship Enterprise would one day be used on construction jobsites. Crew members carried a communicator, which looked much like yesterday’s flip phones. The Combadge was a wearable communication device, and Lt. Uhura wore a wireless Bluetooth-like earpiece. When Captain Kirk asked a question or gave a command, the computer responded remarkably like Apple’s Siri or Amazon’s Alexa. The Replicator produced food, tools and other objects, much like today’s 3-D printers. The ship was a model of operational efficiency many construction firms strive to achieve.

 

Mid-year economic Forecast: Momentum Meets Intrigue
If economic performance reflected consumer and business ebullience, the United...

Is Your Jobsite Smart Enough?
There’s a lot for contractors to be excited about on the technology front: drones...

ABC Members Invest $200,000 in Military Families
"Honor their sacrifice. Educate their legacy.” That motto has inspired Folds...

What hobby or pastime inspires you most when you are not at work?
"All too often, a hectic day at work leads to rushing home to take care of household...

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