Guest Blog: Daily Records and Daily Reports
Daily records, or reports, are important, yet the Project Manager often leaves them for other staff to prepare and submit. These reports may be referred to in the event of a contractual dispute, therefore they must be accurate and, if possible, signed by the client or their representative. Often it’s a project requirement to submit […]
Guest Blog: Don’t let Negative Cashflow destroy your Company
Negative cash flow probably causes more construction companies to run into financial trouble (leading to their closure) than any other cause. Even a profitable construction project can cause a company financial problems if the cash flow is negative. Negative cash flow is when the construction company is paying money to suppliers, equipment hire companies and […]
The Construction Industry: Small Order Versus Big Order
It is good practise to to make sure that some type of contract is put in place between your subcontractor and/or supplier when procuring their services. I have seen on many occasions, companies placing orders stating; “Please proceed on the basis of your email” or “Please proceed as per your quotation” This is a complete no-no as […]
Change Management Tools: Upline & Downline
We have previously mentioned contractors having a Change Management Strategy in place. Change Management Strategies are made up of tools that are at the disposal of the Contractor. These tools can be spilt into 2 divisions and termed: Upline Downline “Upline” is where there is a change from the contractor to the client/design team. The […]
Guest Blog: Payment of Subcontractors and Suppliers
Sometimes subcontractors or suppliers aren’t paid correctly. This could result in them being overpaid, paid for work that’s defective or incomplete or them being paid late which could result in disputes. Many subcontractors are keen to complete the easy work in their contract, and claim as much of their contract value as they can. Smaller […]
Guest Blog: Ensure Your Project has Positive Cash Flow
Cash flow is the life blood of every construction company. Failure to manage cash flow properly could lead to the demise of the company. This article discusses what steps Company Managers and Project Managers can implement to improve cash flow. Cash flow can be improved by implementing the following: Ensure that valuation claims are submitted […]
Guest Blog: Why Isn’t Your Construction Project Profitable?
There are many reasons that cause projects to lose money, and often more than one for a particular loss. Some reasons may be: There are too many people. Inadequate, poor or insufficient supervision. The wrong mix of trades and skills. Poor worker morale. Poor discipline and time-keeping. Poorly trained workers. Poor safety. Too much equipment […]
Guest Blog: Don’t Make a Mistake when you Price your Next Construction Project
Great excitement – you have just been awarded a new project. Then elation fades as reality sinks in. You have to construct that project, do that work, for that price, under those conditions, in that time frame and for that client. Who was the idiot who priced the job? Maybe it takes a while for […]