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8 Tips to Manage Cash Flow Like Your Construction Business Depends on It

Autodesk Construction Cloud

And in 2020, the global cost of rework was estimated to represent 5% of all construction spending, or $625 billion. Choose projects with profitable estimates. This makes it easier for review and approval for payments to be processed quicker. . Speed up project closeout. Integrate accounting and operations.

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More Than 25 Product Releases You Should Know in November

Autodesk Construction Cloud

This increases visibility so team members can prioritize and closeout tasks from meetings. Reviews | Send Back to Previous Step - During the approval workflow, the step reviewer can now send the current review back to the previous step without losing comments and markups, enabling the design review process to be more flexible.

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New in Autodesk Construction Cloud: 50+ the Latest Product Releases

Autodesk Construction Cloud

Autodesk Construction Cloud and BIM 360 users on web now see a new “Status” column that will highlight approval results on their transmittals. . Cost Management | Budget Payment Application Custom Approval Workflow* . Closeout | Department Level Administration . Pype Closeout now has administration at the account level.

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How Much is Poor Construction Document Management Costing You? 

Autodesk Construction Cloud

According to the same FMI survey, decisions made using “bad data” are estimated to have cost the industry $88.69 Unfinished Closeout Packages Closeout packages should include the latest versions of all drawings and files related to the layout, construction, and internal systems of a structure. billion in rework alone annually.

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Punch List 101

Field Wire

In one study, Bent Flyvbjerg, an expert in project management at Oxford’s business school, said : “It is estimated that nine out of ten construction mega-projects run over budget.” Luckily, Fieldwire’s punch list app adds both speed and structure to your closeout process as part of our field management platform.

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Construction Budgeting 101

Autodesk Construction Cloud

Poor budgeting leads to inaccurate estimates and error-prone forecasts, which can result in unfavorable project outcomes. When these components are in place, you’re better equipped to come up with accurate budgets and estimates. Come up with project estimates: This figure isn’t set in stone. Inaccurate project estimates.

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6 Construction Workflows You’re Wasting Time On (And How to Fix)  

Autodesk Construction Cloud

It’s obvious how this applies to construction, where tracking tasks and managing documents is a considerable part of the overall process, from preconstruction through closeout. Automation includes notifying the relevant person when action or approval is needed. 6 Construction Workflows to Improve Today.