Sometimes, staying in the green can be difficult with large budgets and complex projects that have many details and variables. From designing effectively to reducing waste, we have come up with seven tips and best practices that can help contractors stay above water.
1. Design Effectively
Start off with a cost effective design and an architect who has cost efficiency in mind. Changes made at the beginning of a design process tend to be less expensive compared to changes made during a build. Also, researching affordable building materials ahead of time with the architect can help cut costs prior to project kickoff.
2. Shop Around
Saving on small costs here and there can make a difference in the long run. It may seem time consuming, but spending a few minutes researching materials and equipment cost could save money. While you may have solid relationships with legacy suppliers, it’s smart to check market and competitor prices regularly. If another outfitter can provide a better deal, see if your go-to company can meet or beat it.
3. Better Tools
This reduces the need to get new tools over and over again—using tools that cost a little more will generally display greater staying power—saving time and money in the long run.
4. Inventory Your Assets
Cut down on loss and theft by taking the time to create an inventory list of all the tools and equipment on the jobsite. With Viewpoint construction software, creating a master inventory list is simple—updates can be made in real time making it easy to stay on top of your company’s equipment and tools.
5. Reduce Wasted Materials
Eliminate material loss and labor waste by ensuring subcontractors are scheduled at the right time and the respective materials are where they need to be.
6. Schedule Smart
Start your project by scheduling your work crew efficiently from day one. This helps avoid too little or too many crew members on site. You can avoid paying employees to stand around and wait by watching the job progress, following the weather, assessing individual worker speed and accounting for construction delays.
7. Invest in Technology
Technology investments can save time and money in the long run. Staying on top of expenses with real time reporting won’t leave any surprises. Knowing where your expenses stand helps you keep track of money throughout a project or job lifecycle.
Nvoicepay syndicates thought leadership content from our partners. This article originally appeared on Viewpoint's Blog.