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10 Things To Exclude From A Construction Bid, Proposal Or Contract
Construction Documents & Templates

10 Things To Exclude From Construction Bids, Proposals & Contracts

All construction projects begin on paper. Tied with drawings, the most important pieces of paper on a construction project are those included in the legal documents. Legal terms are found most defined in the final contract executed between a client and contractor, but even the terms and conditions submitted as part of a construction bid or proposal are critical and carry legal implications, too. This is why it’s essential that contractors understand what to exclude from a construction bid, proposal or contract. In this article, we’ll cover 10 must-know things to exclude in your next construction project.

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Pat Finnegan December 9, 2019
Importance Of Finance In Project Management - Key Terms & Processes
Construction Management Finances

Importance Of Finance In Project Management: Key Terms & Processes

We’ve said it before and we’ll say it again: money makes the world go ’round! Project management is certainly not an exception. Projects are initiated because an individual or an organization wants a certain type of work done. In turn, they’re willing to pay people to perform the work. Simple, right? At it’s core, that is the essence of finance in project management – one party wants the work done and pays for it; other parties want to do the work and get paid for it. While this is project finance in a nutshell, there are many fine details to be aware of. In this article, we’re discussing the importance of finance in project management, along with some key terms and processes to know!

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Pat Finnegan November 20, 2019
Putting A Project On Hold - When Project Managers Should Hit Pause
Construction Management

Putting A Project On Hold: When Project Managers Should Hit Pause

In the field of project management, we rarely hear of the words ‘slowing down’. In fact, those words often echo in infamy. Clients want their project completed as quickly as it can be. They’re more likely to request additional resources, more hours and accelerated timelines – slowing down or stopping isn’t something clients want to hear. Unfortunately, slowing down or hitting pause is the right thing to do for the Project Manager, despite what the client and even our own management may say. In this article, we’re discussing putting a project on hold and when P.M.s should hit that pause button!

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Pat Finnegan November 13, 2019
Our Comprehensive List Of 25 Ways Contractors Lose Money
Construction Management

Our Comprehensive List Of 25 Ways Contractors Lose Money

Construction is a high risk, high reward business. While working on a job site is high risk from a safety perspective, the industry as a whole carries a high financial risk for contractors. With this risk comes the chance to make large profits when successfully completing projects, but the chance to lose a tremendous amount of money, too! Many contractors declare bankruptcy each year, while others barely cover their costs with little left to show for it. Other contractors do exceptionally well. So why do some contractors run into financial issues? This article will be solely focused on a comprehensive list of ways contractors lose money!

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Pat Finnegan October 22, 2019
Construction Documents & Templates

Change Order Best Practices: What Contractors & Clients Need To Know

Let’s start this off with a picture of two boats: one is a large, expensive boat and the other an inflatable dingy the owner uses to ferry out to the big boat from land. The small dingy is named “original contract” while the large, luxurious boat is named “change order”. I first saw this picture in college and laughed, but didn’t quite understand. After working for many years on a variety of commercial projects, it makes a lot more sense. While this picture is funny but obviously way off scale, the point is clear. Regardless of what the original contract consists of, projects can be made or broken by change orders – that goes for clients AND contractors! In this article, we’ll be discussing a variety of change order best practices that will benefit both owners and contractors alike.

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Pat Finnegan October 21, 2019
How To Estimate Construction Costs - A Step-By-Step Guide
Construction Management

How To Estimate Construction Costs: Our Comprehensive Guide

When discussing a construction project, one of the first things everyone wonders is how much money the project will ultimately cost. Whether it be a residential home project, a large office building or a bridge, the dollar-value of a project is important for obvious reasons. When we hear about an office building costing $50,000,000 to construct, it’s easy to be in awe of that much money. Not all of this is profit of course. In fact, the total profit kept by the companies involved may be as little as 10-15% of that, and that’s if all goes well! So how do contacting companies calculate the cost of the project? In this article, we’ll be discussing how to estimate construction costs – step by step.

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Pat Finnegan October 9, 2019

About This Topic

Articles about processing and managing change orders on projects.

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