Quick Guide to Time and Material (T&M) Contracts for Contractors

Quick Guide to Time and Material (T&M) Contracts for Contractors

In a Time and Material (T&M) contract the project owner will pay you for all your time (labor) and materials, plus a markup, for the project. Your fee structure is tied to the amount of time and materials spent on the project, versus a fixed fee which can be found in a lump sum project. Best for projects in which the scope of work or project duration are unknown, these contracts provide flexibility and protection to your bottom line.

How the Construction Procurement Process Works

How the Construction Procurement Process Works

From small home renovations to 20-story skyscrapers, every successful project is the culmination of dozens of different puzzle pieces. Procurement is how you bring these pieces together. Also known as the buying process, construction procurement is the process of contracting for any labor, materials, or equipment needed to effectively complete a job.

How to Use Value Engineering in Construction for More Successful Projects

How to Use Value Engineering in Construction for More Successful Projects

Value engineering is the practice of increasing the value realized from a construction project. That could mean finding an alternative permanent material or product that has higher quality and will make the end result last longer, providing a substitute material or design idea that meets the same quality standards for a lower cost, or developing alternative means and methods for constructing the design that reduces the overall construction costs.

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The Quick Guide to Cost-Plus Contracts for Construction
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Quick Guide to Time and Material (T&M) Contracts for Contractors
Quick Guide to Time and Material (T&M) Contracts for Contractors

In a Time and Material (T&M) contract the project owner will pay you for all your time (labor) and materials, plus a markup, for the project. Your fee structure is tied to the amount of time and materials spent on the project, versus a fixed fee which can be found in a lump sum project. Best for projects in which the scope of work or project duration are unknown, these contracts provide flexibility and protection to your bottom line.

A Comprehensive Guide to Fringe Benefits for Construction Companies
A Comprehensive Guide to Fringe Benefits for Construction Companies

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