How to Optimize Your Construction Supply Chain for Better Results
In the construction industry, optimizing the supply chain is crucial to project success. According to a study by McKinsey & [...]
How to Handle Retainage in Construction: Billing, Accounting Tips, and Expert Best Practices
Retainage is a portion of a contractor’s payment withheld until project completion that serves as a safeguard for quality and [...]
What Is a Construction Punch List? The Complete Guide
When you’re nearing the end of a construction project, every detail counts. That’s where a construction punch list comes in. [...]
Construction Contingency 101: Everything You Need to Know
Every construction project comes with its share of uncertainties. From unexpected site conditions to last-minute design changes, the risks can [...]
Complete Guide to Guaranteed Maximum Price (GMP) Contracts in Construction
Guaranteed Maximum Price (GMP) contracts are commonly used in many industries, but they have particular considerations when applied to construction [...]
Lump Sum Contracts in Construction: Everything You Need to Know
A lump sum contract is a fixed-price agreement where the contractor completes a project for a set price, regardless of [...]
General Contractor Markup: How Much Should You Really Charge?
As a contractor, understanding and managing your general contractor markup is essential for maintaining profitability while staying competitive. Markup isn’t [...]
Construction Contracts: 6 Key Types, Clauses, and Tips for 2024
A construction contract is a formal agreement between parties, usually a contractor and a client, that outlines the terms, expectations, [...]
RFI in Construction: The Complete 2024 Guide for Contractors and Managers
In construction, a Request for Information (RFI) is a critical process that ensures clarity on project details, helping to avoid [...]