The construction labor shortage is dire. According to the 2020 Workforce Survey by the Associated General Contractors of America, more than half of responding construction firms said they could not find enough skilled tradespeople for their open jobs.
Despite being the leader in technology, research, and health sciences, the US on January 14, 2021, was the country with the highest number of COVID-19 cases surging as high as 23.1 million and more than 384K deaths.
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All construction projects carry some level of risk. Being able to identify and manage risks requires skill, careful planning, and being able to make good decisions quickly. When risks become reality, they can be detrimental to the successful completion of your project. Properly managed risks can lead to higher profits, stronger relationships with clients and the ability to grow and expand your business.
Putting together a winning bid proposal, or even a competitive one, takes knowledge and skill. It’s a bit more complicated than just putting some numbers together and hoping for the best. Good bid preparation requires a lot of time and effort and involves everything from reading and fully understanding the plans and specifications to accurately estimating costs for labor, materials and equipment. Making even the smallest mistake can mean the difference between submitting a winning bid and missing out on a coveted and profitable project. We’ve put together our top 10 tips for submitting better bids.
While early builders proved that construction with primitive tools and materials is possible, it would take them generations to accomplish what modern teams can do in a few months.
When it comes to the construction business, the only thing that defines success is the quality of relationships. Either it is the relationships with the customers or the suppliers, it is the key to business continuity that defines the growth model.
Many construction companies operate on razor thin margins and most are definitely not strangers to cash flow issues. Compound those with a crisis and things can get rocky fast. However, dealing with financial hardships and challenging stretches in business life have given contractors and other construction business owners the skills and steadfastness to withstand difficult times.
It’s safe to say that 2020 has pretty much been a dumpster fire of a year. The coronavirus pandemic and subsequent shelter-in-place and stay-at-home orders and other health precautions has significantly impacted how we work and live. This year I’ve found myself with, not necessarily more free time, but less things to do to occupy that time like going to the movies, traveling, attending sporting events and concerts, and hanging out with friends and family.
Not that long ago, general contractors who weren't using a subcontractor prequalification process were taking a huge risk. We were in the midst of the Great Recession and good contracting opportunities were becoming harder and harder to find. This led to more firms, both general contractors and subcontractors, bidding on projects they weren't equipped to handle. General contractors were focused more on getting the lowest bid from subcontractors rather than making sure they were capable of adequately performing the work.
When it comes to construction project management, project managers often need to deal with unexpected challenges. Though technology has come a long way in improving the process of workflow management and business efficiency, the only thing that defines success is identifying the right set of tools.