To have long-term success in the construction business, a company needs to ride the ups and the downs and navigate the surprises that present themselves on an all-too-regular basis. The business cycle can be “feast or famine,” and neither is good. So how does one stay financially prepared for every bump in the road? Continue »

The speed of digital innovation is breathtaking. Mobile communications and software for construction management have revolutionized the business for building contractors. Today, project managers are linked to the office from their air-conditioned, Wi-Fi hotspot crew cab with a laptop and smartphone. General contractors, subcontractors and crews can see revised plans and discuss the construction tasks at hand, over the phone, all on the same page, whether it is a PDF on a tablet, laptop or large smartphone. Continue »

Insurance products used in the construction industry are always changing. To keep up with legal and practice developments in the insurance industry, the AIA undertook an extensive examination of its insurance and bonds requirements for the 2017 update to key AIA contract documents. Working with industry experts, the AIA has put together a comprehensive set of revisions to the insurance and bonding provisions included in its 2017 owner-contractor agreements. Continue »

With the construction industry rebounding and creating more frequent and longer projects, more regularly are industry professionals looking to hotels as their “home away from home.” As travel shifts from being a part of the job to a temporary lifestyle, the ability to maintain routines and have homelike comforts, like the ability to prepare favorite meals, unwind in a spacious living area after a long day and have a designated workspace to maintain productivity, naturally increases. Continue »

Ask most contractors, and you’ll find that job costing is among their top business concerns. That’s not surprising, considering successful job costing can mean the difference between a profitable business and one that struggles to stay alive. It’s not enough to know only whether your business is profitable overall, just as it’s not enough to know your boat is above water; small leaks over time will hurt your bottom line if you don’t know where they are and how much water you’re taking on. To keep your business running optimally, you need a solid job-costing system with thorough reporting. A good software package will make this easy for you. Continue »

RedVector

The rate of growth of company-wide online training is expected to increase by 13 percent per year through 2017, according to the latest research from Roland Berger, a global strategy consulting firm. Most companies chalk that up to the increased flexibility, cost savings and better time management that online training allows them. Continue »

As the construction industry rebounds and creates more frequent and longer projects, employees once again face the challenge of finding satisfying meals while calling a hotel home. Crunched for time and needing to fill up for a long day on the jobsite, employees turn to the roach coach, a handful of fast food chains or packing old standbys such as sandwiches, chips and sodas. However, according to a recent survey released by the largest owner-operated hotel chain in the United States., Extended Stay America, 89 percent of travelers would rather cook in their hotel room then eat out. Continue »

Total U.S. construction starts for 2015 are predicted to rise 9 percent to $612 billion, almost double from 2014’s estimated 5 percent increase to $564 billion, according to the 2015 Dodge Construction Outlook, published by Dodge Data & Analytics http://www.construction.com. With construction experts forecasting positive growth for the industry in 2015, employees of the vertical can anticipate longer job projects requiring them to live away from home for more extended periods of time. Continue »