6 Tips For Keeping Your Construction Budget On Track
| 3 Min Read | 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 […]
Construction Overheads & 5 methods to allocate them
| 3 Min Read | 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 […]
5 Steps for a Successful Construction Project Budget
| 3 Min Read | 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 […]
5 Steps To Great ‘Request For Quotations’ On Construction Projects
| 5 Min Read | 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 […]
5 Considerations for Improving Construction Material Procurement
| 5 Min Read | 5 Considerations for Improving Construction Material Procurement 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 […]
8 Methods to track construction project costs and increase profitability
| 5 Min Read | 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 […]
How Can We Improve Construction Productivity & Profit?
| 5 Min Read | 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 […]
Best Practices for Invoice Processing
| 5 Min Read | 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 […]
6 Methods Of Managing Material Orders On Site
| 5 Min Read | 6 Methods Of Managing Material Orders On Site Materials management is both planning and controlling to make sure that materials that appear on site are of the correct quality and quantity. It is also ensuring that materials were delivered on site at the correct time and at the […]
How Exactly Is A Purchase Order Different To A Purchase Requisition?
| 5 Min Read | How Exactly Is A Purchase Order Different To A Purchase Requisition? A purchase requisition is a document used when an employee needs to make a purchase on behalf of the business. It is a request to purchase, which is sent to the purchasing department of that business. At this point, […]