Here’s a brief glance at what you’ll find in the summer issue of Construction Industry Advisor:
What are your construction company’s true labor costs?
When a construction business creates an estimate for a project, many factors come into play. One of them, of course, is labor. But calculating labor costs isn’t as simple as figuring out how much pay the project manager and crew members will earn. This article explains how to calculate the true labor costs by using a metric called labor burden rate. A sidebar looks at a major factor in the labor burden rate: workers’ compensation insurance costs.
Protecting your construction business from ransomware
Construction business owners, along with just about everyone else, may be growing weary of hearing about cyberattacks and the importance of cybersecurity. Unfortunately, this threat not only persists but is reportedly growing even worse. This article focuses on ransomware attacks against construction companies, namely, why they happen and what contractors can do about them.
Be mindful of backlog: yours and the industry’s
Backlog is generally defined as the total value of all the projects a construction company has signed contracts for but has yet to complete. The construction industry itself also tracks backlog as a leading economic indicator. This article explores why backlog is so important for contractors and how they can better manage it for their companies.
Integrated project delivery model offers many benefits
Contractors who’ve been around the block a few times know that design-bid-build isn’t the only construction game in town. There are other models in play, one of which is integrated project delivery (IPD). This article explores how IPD works, what advantages it offers and risks it poses, and the technology typically involved.
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View the articles in their entirety by clicking here – Construction Industry Advisor – Summer 2024.
