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Episode 3: Cost Control in Construction Projects; Here’s how to control them

iField Smart

Cost overruns run large in the construction industry, leading to project delays, disputes, and financial losses. To mitigate these risks, the construction industry must implement robust cost control strategies. Value Engineering in Construction : Identify cost-saving opportunities that dont compromise quality or functionality.

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Construction Daily Progress Report: An In-Depth Guide with FAQs

iField Smart

Predictive Analytics: Forecast delays, costs, and safety issues. What is the typical cost? Reputable providers use encryption, access controls, and regular backups. Daily logs, weekly summaries, cost reports, safety reports, etc. Data Validation: Identify errors and inconsistencies. How is my data secured?

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Episode 4: Quality Compromises — Ensuring Quality in Construction

iField Smart

Although this is the case, quality control is one of the most common pain points in the industry. As such there is a need for proper quality control mechanisms to be put in place otherwise construction projects are likely to be non compliant in most design aspects and this will result in: Damage to safety features of the structure.

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Episode 5: Value Engineering and Cost Optimisation — Cost Management

iField Smart

Reading Time: 2 minutes In an industry as quick as construction, cost management is everything. Rising material costs, labour shortages plus complex projects mean we need to be smarter with our budgets without compromising on quality. Its not just about cutting costs but optimising the functionality and performance of the project.

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The Transformative Power of Field Inspection Software in the Construction Industry: A Comprehensive Whitepaper

iField Smart

Reduced Productivity and Increased Costs: Manual processes are time-consuming and resource-intensive. This inefficiency leads to increased labor costs and project delays, negatively impacting the bottom line. Cost Savings: Reduces labor costs, rework, and project delays. Can field inspection software be used offline?

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iFieldSmart Technologies: The Best Construction Scheduling Software Solution

iField Smart

Cost Control and Savings: By minimizing delays, optimizing resource utilization, and preventing budget overruns, modern software translates to substantial cost savings. Furthermore, AI can generate alternative schedules, assessing the impact of various “what-if” scenarios on project timelines and costs.

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Cost-Plus Vs. GMP Construction Contracts

Rabbet

There are many different types of contracts , but two of the most common are cost-plus and guaranteed maximum price. Cost-Plus Contracts A cost-plus contract is an agreement where the owner pays the contractor for all actual costs incurred (materials, labor, equipment) plus an agreed-upon fee or percentage for profit and overhead.