ConstructionOnline Blog

Imagine you’re building a house, but no one’s checking the plans, tracking the budget, or making sure the materials fit the design. Sounds like a recipe for disaster, right? You may be surprised to hear that when your company doesn’t have proper construction expense management, it can be just as disastrous. Inaccurate and unorganized construction expense tracking can lead to project delays, budget overruns, and even legal trouble. Let’s dive into the 8 biggest mistakes construction companies make when tracking expenses, and how to solve them.

Creating an accurate estimate and managing finances is one of the most essential parts of completing successful projects and running a profitable construction business, and having a system in place for managing construction purchase orders (POs), billing, and payments is a big part of managing project finances.

In this article, we’ll tell you why POs can make or break the success of your projects in 5 crucial ways, and we’ll explain the single best way you can use technology to streamline your construction PO management.

The internet is not new, and neither is the cloud. Technology in construction has been around for over 20 years, but desktop solutions are causing contractors to fall behind. Switching to cloud-based construction management can be daunting, but did you know that it could be the difference between a desktop management system and the cloud that causes you to go out of business?

When communication between your company team and external stakeholders like clients, architects, engineers, and other non-company team members is not optimal, you’ll end up missing deadlines and glossing over important project details, both of which expose you to legal risks and ultimately mean less money.

In this article, we’ll tell you how to streamline your external communication with people outside of your company so that you can reduce risks, stay on budget, and protect your bottom line.

There’s not much that’s as frustrating as finding out too late that a crucial task from early in the life of a project needs to be completely re-done. Something as simple as a misplaced electrical outlet could result in thousands of dollars that were not estimated for. Not to mention, the potential weeks required to add to a project’s timeline can damage your reputation or worse – lead to costly legal disputes. 

Communication in construction is crucial for smooth project execution. In the construction industry, team members are often in different locations at any given time – a job site, meeting with stakeholders, the office, etc. Having the right construction communication plan in place can keep projects on track and reduce legal risks. Keep reading for different internal communication strategies to set your team up for success from the very start.

With the accelerating rate of technological advances across the construction industry, it’s a natural expectation that contractors keep up with the times by utilizing technology in some form. Whether it’s using a basic spreadsheet to create accurate estimates or investing in a project management software that handles larger-scale projects, technology helps contractors execute successful projects with more ease.

Although the role of contractors hasn’t changed much since the onset of the digital age, the way in which contractors execute projects has changed from relying on manual documentation and tracking to more automated ways of carrying out project tasks. So in this article, we’ll explain the importance of tech, the risks of not using tech, and how contractors can embrace tech as the new way of doing construction.

Multifamily construction projects are key to creating accessible housing no matter the area, offering options from small duplexes to large apartment developments. As the demand for housing continues to increase, building these types of homes has become more important than ever. Multifamily construction comes with its own set of challenges and opportunities. It’s crucial for builders, developers, and investors to understand how it works.

In this blog post, we’ll break down the different types of multifamily projects one might encounter, how to get started, and explain different management strategies. Whether you're new to this type of construction or looking to improve existing processes, this guide will provide more understanding. After reading this guide, you'll be more equipped to handle these projects with confidence.

The success of any construction project starts with an accurate, organized, and detailed estimate, and when you’re dealing with commercial projects which tend to be more complex and involved than say other types of estimates, the stakes are often higher. There are typically more fees, more permits, more compliance, and more safety considerations that take place.

That’s why it’s crucial that you get the estimate right from the get-go. In this article, we’ll lay out exactly how you should construct a proper estimate for commercial construction projects so that you can know what to expect financially, and ultimately protect your bottom line.

The success of any residential construction project starts with an accurate, organized, and detailed estimate. Whether you are new to residential construction estimating or experienced, it's easy to overlook small details that can cause big problems later. This guide covers everything you need to include in your estimate, from materials and labor to permits and inspections. We’ll also discuss best practices to help you stay on track, highlight free construction estimate templates, and point out common mistakes to avoid.

Preparation is key. Before estimating, research prices and understand your project's full scope. Using residential construction estimating software can make this process easier and more accurate. As the project progresses, track actual costs and compare them to your estimate to stay on budget and make informed decisions. By following the 8 tips in this guide, you can ensure your residential construction project runs smoothly from start to finish.

With the vast majority of construction projects globally experiencing project cost overruns due to inaccurate estimates, it should be no secret that getting the project estimate right sets a good financial foundation for the rest of the project, and fumbling the estimate can lead to lost money.

As a construction estimator - whether you work for a contracting company or you're a freelance estimator - knowing how to create accurate estimates every time is the crux of your job, so in this blog post, we've included some important skills that are crucial for being a successful estimator based on our experience with helping hundreds of thousands of construction professionals create accurate estimates.