Top Challenges Driving Low Optimism Among Construction CEOs
Five in seven construction CEOs expect to increase revenue in the year ahead, but they also have underlying concerns about sustained growth.
Create a Succession Plan That Includes the CFO
Typically, a succession plan focuses on the CEO and operational management positions. It is rare, but important, to have a succession plan for the CFO as well.
Improve Project Delivery With Blockchain Technology
Blockchain has a place in the construction industry. Builders that can adapt the protocol (or at least learn more about it) will be more prepared when the technology goes from being the exception to the rule.
Project Onboarding Costs Rise When Workers Don’t Have On-Demand Access to Information
It’s possible to dispatch workers with all of their individual information so they can be allocated to any jobsite at any time and get to work without waiting for the office to send the files over.
Detect and Prevent Construction Fraud
By understanding the traits of a typical fraudster and steps to take to reduce the likelihood of insider theft, construction business owners can focus on protecting their liabilities, securing new contracts and overseeing their clients’ projects.
Address New Accounting Standards Now to Ensure Business Stability
Contractors must make compliance with the new revenue recognition standards a corporate priority. The organizations that do will preserve their reputations with lenders and bonding companies and maintain long-term business stability.
Consider Small Data to Increase Project Success
Using small data will not only lead to more project wins, but also a more stable project pipeline aligned to available resources.
Report Uncovers $40 Billion of Excess Costs in Construction Industry
Contract Simply conducted an industry-wide study that revealed slow payments in the construction industry result in $40 billion in superfluous costs annually.
