Results for: Uncategorized
Everything You Need to Know About Construction Insurance

Everything You Need to Know About Construction Insurance

Construction insurance policies typically cover a wide range of risks, including property damage, bodily injury, and legal liability. And with many different insurance policies to choose from, it can be difficult to know what policies are right for your unique business.

Recent Articles

Everything Contractors Need to Know About Design-Bid-Build Projects
Everything Contractors Need to Know About Design-Bid-Build Projects

Considered the traditional organizational structure for construction projects, the Design-Bid-Build (DBB) method follows three stages. Once a design is completed, the project is sent out to bid and then the project is built. It’s a very linear, one-thing-at-a-time approach, which allows owners to be fully involved in each stage.

Mastering Project Closeout For Emerging General Contractors
Mastering Project Closeout For Emerging General Contractors

For emerging general contractors, navigating the path from the inception of a project to its completion is a journey filled with challenges and learning opportunities. Project closeout is a critical phase that often determines the overall success of a project and uncovers just how well you managed the entire project.

How to Use the Completed Contract Method in Construction
How to Use the Completed Contract Method in Construction

The completed contract method (CCM) is a construction accounting method that’s primarily used for revenue recognition. As its name implies, this approach allows construction companies to recognize all revenue, expenses, and gross profit after a project has been completed. It’s a particularly useful method of accounting when it comes to short-term contracts, and/or those with an unpredictable timeline and set of costs.

What Is Construction Manager at Risk?
What Is Construction Manager at Risk?

Construction Manager At Risk (CMAR) is a project delivery method in which an owner hires a construction manager (CM) to oversee the entirety of a project. From the initial project design through the construction phase and close-out, the CM is responsible for closely monitoring the schedule and project budget to make sure the job stays within the contract price.

The Complete Guide to Revenue Recognition in Construction
The Complete Guide to Revenue Recognition in Construction

Revenue recognition is the method construction companies use to determine when to report revenue and profits in their financial statements. While that might sound overly simple, the long-term and often complex nature of construction projects can often make the process challenging for contractors.

Foundations of Construction Project Management for SMBs
Foundations of Construction Project Management for SMBs

There aren’t many industries as complicated as construction. From managing materials and labor, to keeping stakeholders happy, there’s a lot to juggle here. Without a solid plan and process in place, staying organized and on schedule is near impossible. What’s more, everything is connected – which means if one part of a job goes off the rails, more are likely to follow.

Building Against the Clock: The 8 Major Construction Schedule Risks for General Contractors
Building Against the Clock: The 8 Major Construction Schedule Risks for General Contractors

As the general contractor, the heavy burden of schedule management lies on your shoulders. To fully execute a holistic schedule, you need to analyze risk, understand the goals of all the stakeholders, and confirm the activity duration for each task. While the owner may not look at the line-by-line construction schedule, they will pay attention to the critical path and milestones throughout the project. This will give them an overarching view of the project and help them understand when major events are happening.

5 Mistakes Builders Make when Bidding Big Projects.

Download this 8-page guide with the best tips for accurately and confidently bidding more profitably.