What is a Fixed Price Contract in Construction?
Establishing a pricing method is an essential part of the pre-construction stage of a project. Generally, contractors choose to use either a fixed-price contract or a contract with dynamic pricing. A fixed-price contract in construction is a pricing method which sets a total established price upfront for all construction-related activities undertaken during the lifetime of the project….
The Ultimate Guide to Construction Project Management
Welcome to our Ultimate Guide to Construction Project Management! We’ve divided this guide into four distinct sections that will give you a complete overview into the construction project management process and the methodologies that some of the largest construction contractors and subcontractors in the world are using to manage their projects. In part one, we…
Construction Input Prices Rebound in July, Says ABC
Construction input prices expanded 0.8% in July but are down 0.6% year-over-year, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also increased 0.8% for the month but have declined 0.3% on a year-ago basis. Much of the year-over-year…
Nonresidential Construction Employment Roughly Flat in July, Says ABC
The construction industry added 4,000 net new jobs in July, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 202,000 net jobs, an increase of 2.8%. Nonresidential construction employment lost 2,800 jobs on net in July…
Construction Employment Rises by 4,000 in July
Average Hourly Earnings in Construction Top Private Sector Average by 9.9 Percent as Construction Firms Continue to Boost Pay to Attract Limited Pool of Available, Qualified Workers Construction employment increased by 4,000 jobs in July and by 202,000, or 2.8 percent, over the past 12 months, while the number of unemployed jobseekers with construction experience…
Nonresidential Construction Spending Slows in June, Remains Elevated, Says ABC
National nonresidential construction spending declined 1.8% in June, totaling $773.8 billion on a seasonally adjusted annualized basis—a 2.3% increase compared to the same time a year ago, according to an Associated Builders and Contractors analysis of U.S. Census Bureau data published today. Public nonresidential spending fell 3.7% in June, but is up 6.4% year over…
June Construction Starts Climb 9 Percent
New construction starts in June advanced 9% from the previous month to a seasonally adjusted annual rate of $832.7 billion, according to Dodge Data & Analytics. The increase followed the 10% gain reported for May, as total construction starts continued to strengthen following April’s subdued performance. By major sector, much of the lift in June came…
8 Best Practices for Tracking Project Deliverables in Construction
A project deliverable is something that is produced or provided to help achieve a specific objective. To be a deliverable, the output must be both within the scope and the result of deliberate work. Construction project deliverables can be either large or small–anything from an entire building to a single piece of paperwork. Each project has many…
RFI vs RFP: What’s the Difference?
If you’ve worked in the construction, it’s likely you’ve encountered RFP vs RFI moments. An RFI, or request for information, is a preliminary document to get general information from potential vendors, while an RFP, or request for proposal, is a document a company requests from vendors to get an overview of offerings and costs for a…
Executive Responsibility Expanded for Gilbane’s Mid-Atlantic Division to Include North Carolina Offices
As Gilbane Building Company strategically develops its geographic presence across the mid-Atlantic region, the company announced an expanded executive leadership role for Paul Choquette III, senior vice president, which encompasses Gilbane’s North Carolina operations in Raleigh and Charlotte. Choquette has current accountability for offices in Arlington, VA/Washington, DC; Richmond, VA; Baltimore, MD; and Philadelphia, PA….
