ConstructionOnline Blog

Managing your construction project’s purchasing process is one of the crucial aspects of making sure things are on or under budget, but depending on how you manage expenditure, finances can get out of control pretty quickly.

In this article, we’ll tell you the common ways your construction business may be losing money in the procurement and expenditure stages of a project, and how you can use PO software to prevent these common expense mistakes from hurting your bottom line.

In the dynamic world of construction, keeping track of progress and activities on a daily basis is essential for keeping projects on track (and under budget). This process, most commonly known as daily logging, is one of the most critical elements of construction project management. It helps monitor the status of work, identify delays, track safety concerns, and ultimately improve accountability on the construction site.

Read on to learn more about how daily logs are truly the secret weapon for construction project success.

In construction, Purchase Orders (POs) aren't just paperwork - they're essential tools that help streamline project management, safeguard your business from legal risks, and maximize profits. A cornerstone of sound financial management in any successful construction project, Purchase Orders help to control costs, track expenses, and ensure that the necessary resources are available when needed. Proper documentation & management of construction POs can make or break a project.

Are you effectively managing your construction POs, or leaving your company exposed to risk and inefficiency? In this blog, we will walk through the best practices for documenting purchase orders to keep your operations running like a well-oiled machine.

A lot of unexpected events can happen in a construction project, and change orders are one of those things you can almost never predict. Although you can’t plan for them, you can make sure that you manage them efficiently to reduce legal risks and financial catastrophe.

In this article, you’ll find out how change order management can make or break your project finances.

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.