Benefits of Tracking Construction Deliveries Digitally
With the right software tools, you can easily monitor and track the delivery of materials to the site to ensure that your construction project runs smoothly.
How To Avoid The 3 Most Common Construction Purchasing Mistakes
Purchasing mistakes are increasingly common and avoiding them can save time, money and improve efficiencies within your business. Let’s get deeper into these common purchasing mistakes, and see how you can best go about fixing them. Let’s explore the 3 most common purchasing mistakes. Being reactive to purchasing Dealing with a 3 way match Purchasing […]
6 Tips For Keeping Your Construction Budget On Track
In a recent survey by KPMG, they found that just 31% of projects came within 10% of budget and just 25% within 10% of original deadlines in the past three years. Pretty shocking figure really. In our recent blog 5 Steps for a Successful Construction Project Budget we discussed methods of setting up an initial […]
Construction Overheads & 5 methods to allocate them
What are Construction Overheads? Construction Overheads refers to costs that cannot be directly attributed to one project, but instead are costs related to running the company and therefore apply to all projects the company completes. These costs can also be known as indirect costs. Poorly tracked indirect / overhead costs can give you a false […]
5 Steps for a Successful Construction Project Budget
A construction budget is a statement of the amount of money that is available to spend over a period of time, or on a specific item, such as a building. Generally they are derived from a Quantity Surveyors Bill of Quantities as a starting point. It may include an outline plan for how that money […]
5 Steps To Great ‘Request For Quotations’ On Construction Projects
A Request for Quotation or an RFQ in a construction project is a document that details a buyer’s requirements and asks suppliers to respond with pricing and payment terms. Request for quotations can be for supply of materials or services on a project. RFQ’s generally means the same thing as call for bids (CFB) and invitation […]
5 Considerations for Improving Construction Material Procurement
Procurement is a term describing the purchasing process for goods and services. In building construction, material procurement is the process by which the materials required to construct a building are selected, ordered, invoiced, paid for and delivered to the site. The objectives of material procurement are stated as buying the best item at right Quality, […]
8 Methods to track construction project costs and increase profitability
According to a study from KPMG, just 31% of all projects came within 10% of the budget in the past 3 years. Tracking and understanding costs is a key area in any business. In construction, with so many moving parts it is even more important. Here we will briefly outline 8 areas to consider. Niall […]
How Can We Improve Construction Productivity & Profit?
With the ‘new normal’ introducing more restrictions to our labour force, we need to be aware of a potential decline in our productivity. Saving costs by increasing productivity is not an overnight fix. It requires an investment of time and resources to achieve improvements in each area to gain a result. There are many methods […]
Best Practices for Invoice Processing
Invoice Processing has commonly been known as the paperwork involved for Accounts Payable purposes. It is related to a business’s purchase of goods and services which are received before they are paid for. It is the process that a business’s Accounts Payable will use for all supplier invoices. Paper invoices, Electronic or PDF can be […]