The construction industry is one of the oldest in the United States and can chart its history to the creation of the earliest skyscrapers and railroads. Despite this history, it is constantly evolving. Every year there are new developments and technologies with new acronyms; in recent years we have seen CAD, BIM and P3, to name a few.
The majority of commercial and industrial contractors are confident about sales growth, profits and staffing levels heading into 2018, according to the latest Associated Builders and Contractors (ABC) Construction Confidence Index (CCI). Despite rising construction labor and materials costs, 55 percent of contractors expect their profit margins to expand in the first half of 2018.
Construction Executive Announces Its Picks for 2018 Hot Products Proven productivity and excellence in efficiency. The products you need to run a better business in 2018.
the solutions that will streamline your company and make your processes more efficient in 2018 are here! Construction Executive took a hard look at the hottest products designed to make the running of construction businesses a breeze. From project management to payroll solutions, these Hot Products have you covered.
If only strategic planning was as simple as it sounds. Leaders in the construction industry benefit from the action of strategic planning in addition to a mindset of strategic planning. Together, these components set the stage for sustainable organizational health. A strategic plan cannot happen in a vacuum; rather, it’s an integral part of a construction company that understands the need for driven growth.
How does a business leader in commercial and industrial construction implement inspiration in the team? There are thousands of books on leadership theory and organizational culture, but if a leader does not understand how to practically implement those theories, they will not benefit the team. There are several ways to cultivate an inspired team. Following are five ideas for construction executives to implement with field-based, office-based and remote-based teams.
More than almost any other industry, construction contractors need to spend time and resources planning for their income taxes before the end of their fiscal year. Contractors must be sure to retain their financial statement strength and ratios while considering possible tax methods of accounting, projected taxable income for remaining months, tax vs. book depreciation and the calculation of alternative minimum taxes and available tax credits for the entity and the pass-through owners. It is important that all these variables be considered to ensure the most favorable financial and tax objectives are achieved.
There is a costly danger lurking at jobsites; a threat that isn’t easily seen until it is too late—musculoskeletal disorders (MSD). Construction managers, foremen and safety specialists who enact preventative ergonomic measures on the jobsite will not only improve safety, they will also reduce potential injuries for workers—and ultimately save a business from sinking in the red.
The conventional wisdom in the construction industry is that job titles shouldn’t matter. Every company is different, right? A project manager at one company could easily be called a senior project manager at another company, yet perform the same job. An engineer at one company could easily be called a technical manager at another company, yet perform the same job.
Winter is coming. According to the Old Farmer’s Almanac, the United States is in store for another cold, snowy winter this year. Before the temperature drops, construction companies should look for heating solutions that increase operational efficiencies and improve worker safety.
Claim the 179D Deduction for Eligible Past Construction Projects While the fate of 179D is unclear, contractors can determine their eligibility for completed projects
As Congress shifts its attention from health care back to tax reform, many are hoping for legislators to pass a new tax reform bill by the year’s end. The White House, along with the House Committee on Ways and Means and the Senate Committee on Finance, recently released a tax reform plan: Unified Framework for Fixing Our Broken Tax Code. This framework plans to lower the corporate tax rate and bring down the tax rate for pass-throughs as well.
For construction professionals, value engineering is a term commonly associated with keeping projects on budget, but the full meaning of the term has been diluted.
The demand for sustainability and efficiency associated with new construction and renovation projects is higher than ever, as monthly energy costs constitute an ever-increasing percentage of total building life cycle expenses due to rising utility rates. As a result, sustainable construction practices promoting net-zero building designs have become a prevalent industry objective. However, peak sustainability is rarely accomplished due to the high costs and a lack of resources available in the early stages of design and planning.