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According to the AGC 2024 Construction Hiring and Business Outlook survey and report, contractors are less optimistic about private sector demand and more optimistic about public-sector infrastructure work for 2024. However, many firms have found the federal review process and complex Buy America rules for these public-sector projects to be tedious to comply with. Interest rates and their impact on demand for construction continue to be a big concern going forward. Many contractors plan to invest in AI and IT tools to increase efficiency in project management and accounting. Despite these obstacles, contractors are still optimistic that 2024 will be another good year like 2023.

If you're planning a large project and want to make sure it's done right the first time, think about hiring a construction consultant. Read the full article: What Do Construction Consultants Do? ▸ https://lttr.ai/AFxD5 #ConstructionConsultingCompany #ConstructionProject #ConstructionConsultant

The Problem with Civil Construction Management that Costs You Profits Each Day Civil construction managers, have you ever stared at your scheduling whiteboard and wondered if there was a better way? The traditional practices our industry relies on are outdated, inefficient, and costing us money. There is a solution—construction management software with digital scheduling, communication, and payroll tools purpose-built for civil construction. These tools can increase your operational efficiency by up to 80% and boost your profit margins significantly. Want to discover how to gain back 15-20 hours each week, reduce compliance risk, and enhance workforce satisfaction? Read this article to learn: •How digital scheduling streamlines resource allocation and project timelines •How construction communication platforms minimise costly errors and rework •How digital timesheets and payroll processing save you money and time •Success stories of construction businesses gaining $15K+ per year in time savings The future of civil construction is digital. See how embracing the right construction management software and tools can resolve your biggest pain points and set your business up for greater growth. Read the full article: https://hubs.la/Q02ksCRn0

Supporting Infrastructure and construction businesses with their estimating and bid requirements is what we do, the utilisation of an independent estimating resource can provide numerous advantages that cannot be overlooked. While some may argue in favour of traditional in-house estimators, the increasing complexity and scale of construction projects call for a fresh approach. Many of our clients are taking advantage of the service, flexibility, and expertise we provide. The Key Estimating team bring a diverse range of skills and expertise to the table. Due to our exposure to various projects and companies, our team possess a unique perspective that can contribute to a more comprehensive and accurate estimating service. Moreover, Key Estimating’s independence allows them to focus solely on the task at hand, undistracted by other organisational responsibilities. This leads to increased efficiency and improved quality of estimating outputs. Key Estimating offer a flexible solution. Construction projects often fluctuate in terms of workload and duration. By engaging with Key Estimating, clients can adapt their estimating workforce to meet the demands of specific projects and bids, without the need for permanent staff adjustments. This flexibility also enables companies to tap into specialised knowledge, when necessary, thus enhancing expertise within the organisation. Finally Key Estimating can offer cost-saving benefits. As support professionals, they do not require the same level of administrative support, benefits, or training as full-time employees. This allows businesses to cut down on fixed costs associated with estimating, maximizing their resources for other critical aspects of the infrastructure projects. The diverse skills, flexibility, and cost-saving advantages that we offer is a credible alternative to companies and clients, giving them the edge and flexibility, they need.  As the landscape of infrastructure projects continues to evolve, it is imperative for businesses to embrace innovative approaches that can deliver accurate tenders and estimates in a timely and cost-efficient manner. #infrastructure #construction #estimating #bidding #dontmissout

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🏗️ The Importance of Accuracy in Construction Estimation and Budgeting 📊 When it comes to construction projects, accurate estimation and budgeting are the pillars that support successful outcomes. Whether you're building a home, office, or infrastructure, getting the numbers right from the start can make a significant difference in the project's success. 1. Cost Control: Accurate estimation helps in effectively controlling costs throughout the construction process. It enables stakeholders to make informed decisions, avoid overspending, and allocate resources efficiently. 2. Realistic Planning: A well-calculated budget sets the groundwork for realistic project planning. It allows builders and contractors to foresee potential challenges, identify cost-saving opportunities, and devise contingency plans. 3. Avoiding Delays: Inaccurate budgeting can lead to financial shortages and project delays. Proper estimation ensures that there are adequate funds available to keep the project moving smoothly and meet deadlines. 4. Client Confidence: Clients appreciate transparency and reliability. Providing accurate estimates builds trust and confidence, fostering a positive working relationship and potential future collaborations. 5. Profitability: For construction businesses, precise budgeting is directly linked to profitability. Careful consideration of costs and accurate bidding can help secure profitable contracts and increase the company's bottom line. 6. Minimizing Risks: Construction projects inherently involve risks, but accurate estimation reduces the likelihood of unforeseen expenses and disputes, mitigating potential legal and financial consequences. 7. Resource Allocation: Knowing the exact financial requirements allows for optimal allocation of labor, materials, and equipment. This streamlines operations and minimizes waste, enhancing overall project efficiency. In conclusion, accurate construction estimation and budgeting are not just about numbers; they are the backbone of a successful project. By prioritizing precision and attention to detail, construction professionals can ensure smoother operations, satisfied clients, and long-term growth in the industry. 🏢🏠🛠️

Are the days of manual management in civil construction numbered? The civil construction industry faces age-old challenges like scheduling conflicts, miscommunication, and payroll complexities that cost time, money, and efficiency. But the digital revolution is coming in fast with construction software and tools that are transforming how construction companies operate. How much time does your team spend on scheduling, payroll, compliance, and resolving disputes? Cutting-edge tools can save up to 80% of the time spent on these tasks, adding up to tens of thousands of dollars per year for some companies. With streamlined communication, digital scheduling optimised for your needs, simplified payroll, and automated compliance monitoring, teams can focus on high-priority work. The future is digital, and construction companies embracing new technologies will have a significant competitive advantage. See how leading companies are leveraging construction software to overcome their biggest obstacles and deliver projects on time and on budget. Discover how to secure a brighter future for your construction projects. Read the full article: https://hubs.la/Q02ksw0d0

🚧 The Missed Improvement Opportunities in UK Construction: Must do Better 🚧 In UK construction, it’s not uncommon for contractors and subcontractors to operate under the assumption that their current processes and profit margins are as good as they can get. This perception often results in missed opportunities for significant financial and operational improvements. Statistical insights and industry research indicate that many construction businesses are not performing to their full potential [1]. Studies show that advanced management practices and the adoption of integrated digital tools and can lead to productivity gains of 14-15% and cost reductions of 4-6% year-on-year [2], yet improvement rates remain low. This gap highlights a widespread lack of focus, motivation or awareness about the benefits of improvement and innovation in the sector. From my experience in commercial management, I've observed that many contractors are entrenched in traditional methods, just achieving compliance and average performance, either due to comfort with the familiar or a lack of awareness of more better alternatives. They are often not resourced to deliver continuous improvement or they often don't realise that improvement is not just possible but achievable with the right strategies and tools. The impact of this lack of awareness and action is not just a financial metric—it's the stress and strain on teams who work tirelessly battling inefficient processes and practices, believing there is no route to a better way. It is both a professional mission and a personal passion of mine to bring light to these hidden opportunities, showing that with a willingness to adapt, substantial improvement and growth is within reach. For UK contractors and subcontractors, the first step toward unlocking these opportunities is cultivating an awareness that things can be better. Embracing this mindset opens doors to enhancing profitability. It’s time to shift the focus from merely working hard to working smart. [1] https://lnkd.in/gZ9fTkfz [2] https://lnkd.in/gZbD3awF #UKConstruction #OperationalExcellence #InnovationInConstruction #ConstructionIndustry

CONSTRUCTION COMPANIES SIX MAJOR KEY AREAS (KPI ) TO MONITOR BY REAL ESTATE & CONSTRUCTION COMPANIES Project Progress and Timelines: Tracking the progress of construction projects is essential. Monitor whether work is on schedule and within budget. Identify any delays or issues early to take corrective action. Budget and Cost Control: Keep a close eye on project costs, including materials, labor, equipment, and overhead. Ensure that expenses stay within budget and that cost overruns are addressed promptly. Safety and Compliance: Safety is a top priority in construction. Continuously monitor safety protocols and ensure that all workers adhere to safety guidelines and regulations. Compliance with environmental and legal requirements is also vital. Quality Control and Inspections: Regularly inspect work quality and materials to maintain construction standards. Address any defects or issues promptly to prevent costly rework. Resource Allocation and Management: Efficiently manage resources, including labor, equipment, and materials. Monitor resource allocation to avoid shortages or overages that can disrupt the project. Revenue or IPC Raise: Keep an eye on changes in revenue or interim payment certificates (IPCs). Monitor billing and payment processes to ensure that revenue is generated as expected and that IPCs are processed accurately and on time. Continuous monitoring of these key areas, including revenue or IPC raise, contributes to successful construction projects, enhances financial performance, and helps construction companies maintain a competitive edge.

The Construction Dive article highlights a $40B loss due to labor inefficiencies among contractors last year. The study emphasizes the need for improved management practices, including better planning and project coordination. Poor labor productivity impacts not just budgets but also project timelines. If you're facing these issues, our expert team provides comprehensive solutions in finance, operations, project management, and claims. Reach out to us today: https://lnkd.in/emP_S8KV  #construction #constructionmanagement