With the signing of the Infrastructure Investment and Jobs Act in late 2021, things are looking up for federal construction projects in the months and even years ahead. If your company is considering getting in on the action, but perhaps unfamiliar with the road to get there, the journey will begin as most jobs do […]
Category: Bidding
On-Site Spring Construction Newsletter
Here’s a brief glance at what you’ll find in the Spring issue… Infrastructure projects: A review of bidding methods for federal contracts With the signing of the Infrastructure Investment and Jobs Act in late 2021, things are looking up for federal construction projects. For construction companies considering getting in on the action, the journey will […]
You are patient zero: How to diagnose and cure your bidding maladies
Many people outside construction think the hardest part of the job is the labor required to build or renovate structures and infrastructure. But insiders know the toughest part is often bidding on the project itself. No matter how strong your body of work might be historically when it comes to winning bids, any system can […]
Learn the ABCs of activity-based costing
Your latest project might be running on budget, but how can you determine whether your work in progress is really boosting profits or hurting the bottom line? Or, if a job is exceeding forecasted costs, how do you break it down to identify the problem? Many construction companies have addressed such issues by measuring the […]
Could a CRM system help me win more jobs?
My construction company recently celebrated its 15th year in operation and, even better, business is really heating up. My concern is that, with this lengthy history and sizable client list, so much information seems to be falling through the cracks. We try to track everything through a shared spreadsheet, but it’s kind of a mess. […]
Whipping up more profitable jobs with WIP reports
Jobsites generate many things — dust, rubble, scrap metal. But they also generate a lot of information. And extracting the right financial data from an ongoing project in an accurate, timely and easily digestible manner is critical to maintaining that job’s profitability and avoiding losses. Depending on the size and nature of your construction company, […]
Think about licenses before working out of state
Construction markets can turn on a dime. One new manufacturing plant or infrastructure project can transform a sluggish region into a booming economy. Problem is, these hot markets often ignite across state lines. In such cases, you may rush to commit valuable time and resources to preparing a bid. Among the many small details that […]
Using your financial statements to recalibrate your estimates
Offering a fair price for quality workmanship lies at the heart of every contractor’s long-term success. Finding this critical balance begins with the estimating process. Over time, however, even the most sound approach to estimating can slip a little bit and require recalibration. The good news is that the tools for the job lie right […]
Play to win: Profitability tips for today’s construction companies
In the construction business, like most others, the focus is on “being competitive.” But what does this really mean? For many contractors, it means staying in the game — turning a profit when you can but at the very least breaking even. This is particularly the case when jobs are scarce or perhaps you run […]
Bidding made better with go/no-go analysis
To bid or not to bid? For contractors, this is always the question. When times are tough, you may be tempted to bid on anything and everything. During a more stable economic climate, however, you can and perhaps should be as selective as possible. How to make this critical decision is the question beneath the […]