Business coach George Hedly estimates that 75% of installation contractors don’t know how to estimate the right markup in order to cover all their expenses while making a profit. Ensure a healthy profit by knowing the difference between profit margin and markup. When coming up with a construction estimate, understanding the difference between profit margin vs markup…
Subcontractors play an essential role in the delivery of a project on time and within budget in the construction, mining, and industrial sectors. Engaging and employing sub-contractors for the appropriate tasks is a priority for main contractors, particularly in cases where the job demands the appointment of multiple specialised subcontractors. Lacking information at the right…
Research shows that construction companies that embrace digitisation can improve productivity by 50 – 60%. Implement digital solutions today and boost construction productivity in your business. One of the major problems in the construction industry is productivity. Construction productivity is not improving as rapidly as the industry is developing. Many projects are held back due to…
Construction project estimating has always been a time-consuming task with tight deadlines and intense stress. To manage this process more effectively, most construction companies establish a database of estimating information that can be reused, repeated and repurposed for each new project. This consolidated data is known as a master or reference estimate and is improved…
Digital transformation can improve efficiency by 40%. To stay ahead of the competition, construction companies should start digitising their operations today. The entire construction industry is reshaping itself around technology. However, many construction companies feel intimidated about taking on new digital processes. They might be afraid that the technology will slow them down, add an…
Subcontractors play an essential role in the delivery of a project on time and within budget in the construction, mining, and industrial sectors. Engaging and employing sub-contractors for the appropriate tasks is a priority for main contractors, particularly in cases where the job demands the appointment of multiple specialised subcontractors. Lacking information at the right…
From project management tools to enterprise accounting systems, when it comes to selecting a software solution for your construction business: the benefits cannot be overstated. However, when presented with the choice of either generic or construction-specific software; what is the difference and why is one option better than the other? Designed to address the general needs of as many…
Delivering on time and within budget For construction project managers, these two components not only determine the overall success of a build but also guide the creation of one of the most important documents in the built environment: the construction management plan (CMP). Considered to be a living guide that evolves as a project does;…
BuildSmart is a fully integrated, web-based, enterprise management system that includes important functionalities specific to a construction business. Without these construction-specific functionalities, standard accounting systems fall short in providing the information for construction businesses to manage their project costs. BuildSmart is supplied and developed by RIB CCS and FutureWorx is the Authorised Distributor for RIB CCS in Australia. The RIB organisation is one of the world’s largest construction software…
One of the most frustrating aspects of any construction project is trying to maintain accurate, up-to-date, and relevant information about each aspect’s status. This is particularly difficult with multiple stakeholders who may have different reporting requirements or varying needs, depending on the project’s timeline. Think of the following multiple process silo’s running concurrently. The QS…