While bookkeeping in the construction industry can be challenging due to its many considerations, it’s an essential part of successfully running a construction firm. Here’s what you need to know about bookkeeping for construction companies.
Having insurance can save you a great deal of money in the long run, but what exactly is the cost of construction insurance?
Knowing exactly who is responsible for what job is important to navigating the complexity of construction projects. Documentation outlining required work not only provides guidance to workers regarding expectations but ensures that the project will meet its main goals and objectives.
Construction projects are often large and complex, and as a result, are subject to various types of documentation and agreements. Defining the responsibilities and rights of each contractor in writing is crucial for a project’s success.
These are the top 40 Canadian construction companies based on revenue data.
A construction schedule of values (SOV) is important for managing cash flow, a critical project component that becomes more crucial the larger the venture is. In addition to assisting with project progress tracking, an SOV can ensure that everyone is paid on time.
Construction problems are all too common throughout a project’s life cycle. Here are some of the top challenges and problems in the construction industry.
For contractors, building operational efficiency and workforce effectiveness is crucial. Management software helps with overseeing project timelines and workforce flows to establish better project management. There are many different types of software available, so it’s important to choose one according to your construction firm’s needs.
Before construction can begin, construction submittals need to be drafted and sent in for approval. Ultimately, a submittal determines how accurately the project will be completed and whether the items requested for order are in line with a given budget.
Construction projects can be complex and involve many moving parts, requiring the expertise of project managers, contractors, laborers, and other stakeholders, which unfortunately puts them at high risk for failure. You may be wondering: what is the most common cause for the failure of development projects?
