This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The new water management standard enforces Mandatory Water Systems ManagementPlans, Active Automatic Flow Monitoring Shutoff (AAFMS), and coverage for temporary and permanent water systems. Equally, many insurers will require compliance with JCoP guidelines to provide coverage.
Dan Simmons, Managing Director and founder, Quensus If insurers were asked to rank what they see as the most costly damages they could incur, you would expect factors like weather, fire and theft to sit high up the table. But what are the tools companies can use to minimise the risks of EoW? Clearly, its a major problem.
Polygon , one of the largest global Property Damage Control and Temporary Climate Solutions providers, is pleased to announce they have partnered with WINT Water Intelligence , a leader in cutting-edge water management and risk mitigation solutions, to add real-time leak detection and auto shut-off water supply technology to their portfolio.
Key Criteria for Selecting a Welding Company Geographical Proximity Start by listing companies located near your project site. Quality Management Audit Confirm the company has a quality management system, like ISO 9001. Logistics Analysis Ensure the company can quickly deliver equipment and staff to your site.
A recent study by Munich Re, a global leader in insurance and riskmanagement, found that locations protected by WINT dramatically reduce the number and impact of water damage incidents: sites, where WINT was installed, were found to submit 73% fewer insurance claims and resulted in 90% fewer payouts when compared with sites not protected by WINT.
IS YOUR BUSINESS EFFECTIVELY PRIORITIZING CONSTRUCTION RISKMANAGEMENT? Truth be told, every industry involves risk. Ever-present risks can delay or completely derail investments. With that said, construction riskmanagement should be a priority for your company. WHAT IS CONSTRUCTION RISKMANAGEMENT?
How Well Does Your Business Prioritize Construction RiskManagement? Truth be told, every industry involves risk. Whether the project involves a multi-million-dollar office building or a three-story apartment complex, there are several risks that need to be considered in order to ensure the success of any construction project.
When planning a construction project, understanding the full scope of costs is crucial for accurate budgeting and project management. For project owners, accurately defining costs assists with budget planning and forecasting. They may require different tax strategies and depreciation schedules or carry different risks.
These geological phenomena, often overshadowed by more visible risks, pose significant threats to the stability and longevity of buildings. In todays construction projects, the lack of consideration for this risk implies heavy losses, both financial and in terms of business performance. The first one is site analysis.
Construction companies must adopt proactive cash flow management strategies to thrive in this environment. The Current State of Construction Finance Construction firms are more often faced with the problem of being less productive, possibly with higher operating costs due to inefficient financial management systems.
Information of Construction RiskManagement. Construction riskmanagement is a long steep process, in which we have to calculate the all-possible risk and determine the process by which we can reduce this type of risk. Where we identify, analyze the risks and work over them.
How to ManageRisk in Your Construction Project. According to The Construction Industry Institute , there are about 107 construction risks you should consider when managing a project. Regardless, a solid riskmanagement strategy is critical to the security of your company and project.
Effective prevention strategies include comprehensive pre-construction planning, robust quality assurance during building, clear communication between all stakeholders, and thorough documentation. Construction defects typically stem from poor workmanship, substandard materials, improper site preparation, or inadequate maintenance.
Our ultimate storage and bathroom renovation guide: Finding the right fit for your needs covers choosing storage options, planning renovations, and practical tips for achieving the perfect balance in your space, ensuring that you have your ultimate storage and bathroom renovation guide: Finding the right fit for your needs at your fingertips.
From crafting schedules and allocating budgets to nurturing a proficient workforce through comprehensive construction riskmanagement training and drafting a symphony of contracts—the journey of a construction project is a tapestry woven with multifaceted administrative intricacies.
Here’s a look at what every construction business needs to succeed: Clear and Right Business Plan Creating a construction and trades business requires more than just professional know-how. A successful business plan is paramount for success. For every business, having really effective management practices is an absolute must.
in 2025 making it essential to strategically plan your equipment requirements. The American Rental Association forecasts a decline in rental revenue growth from 7.9% in 2024 to 3.6%
A regular John will ask for a paycheck, health insurance, dental, even paid vacation. You can’t hold the drone accountable, and if you’re using automation in any way, it comes with risks and when it goes wrong, you’re looking at possible injuries, missed deadlines, even legal problems. Robot John will happily work for nothing.
The post Insurance for the Construction Industry: Essential Coverage Options appeared first on UK Construction Blog. Navigating the construction industry can be challenging, especially when it comes to managingrisks and ensuring financial protection. Different types of insurance cater to specific needs within the industry.
This includes pre-construction and planning phase activities including initial owner scope of work as well as all related planning, procurement, and project management processes. Auditors should engage experienced construction professionals to be able to optimally apply industry best management and financial practices.
You probably saw last month’s report about a second work-related fatality at the construction site of the San Francisco 49er’s new football stadium. Examples like this are good reminders of the lessons to learn when investigating or handling an accident on a construction site. Manage the accident documents.
For many companies, bringing a CFO on board is a major turning point that takes them from a small mom and pop shop to a large-scale firm with the capacity to manage complex construction projects. When it comes to the upfront legwork in planning and pricing a construction project, the unsung hero is the pre-construction services team.
Are you ready to equip your construction site with top-tier security solutions? Keep reading as we delve into the top 2023 security trends for construction site security and how these trends can fortify your security against the modern threat environment. Integrated Security Camera Systems. RFID Tracking For Tools. Going Keyless.
In the meantime, as part of this plan, a cutting-edge school that complies with carbon neutrality standards will be constructed in order to accommodate future generations. That the transition is proceeding according to plan was stated by CEO Tony Lombardo on Monday’s earnings call. The bulk of Lendlease’s U.S.
Prequalification can ensure contractors are capable, insured, and able to meet all the complex safety and performance requirements. Contractors are required to provide documentation such as: Financial statements Insurance certificates Safety plans Licensing information Training logs And more! Studies show that 3.6%
For construction firms balancing tight project deadlines already, more extreme weather brings costly delays and site damage risks needing urgent solutions. Flood map overlays highlight properties and access routes at highest risk – ensure you have waterproofing and drainage provisions in place.
“The heart of every construction project is collaboration,” said Jim Lynch, Senior Vice President & General Manager, Autodesk Construction Solutions in last week’s Construction Session at Autodesk University. . ERP Integrations – Cost Management and Performance Tracking . Construction ERPs . Performance Tracking .
To effectively design and build mass timber structures that are resilient against water-related damage, builders must plan for effective moisture mitigation throughout the lifecycle of the project, both during installation and in-service. Here are five tips for successful water mitigation in mass timber construction.
In today’s construction news , read about how having construction insurance is crucial for construction enterprises since they confront numerous dangers. Construction insurance covers a variety of claims, including customer injuries, employee lawsuits, incidents involving company vehicles, and others of a similar nature.
Construction Management. Additionally, we have crews on staff to self-perform site work, concrete, rough and finish carpentry, and millwork when it benefits the customer. This is extra precaution for the client that their needs will be met with less risk. General Contracting. Restoration. Development/Leaseback Services.
The post Construction Budget Templates: A Complete Guide to Project Cost Planning [2025] appeared first on UK Construction Blog. A construction budget template serves as your financial compass, providing a structured framework to plan, track and monitor all project costs effectively.
Building a commercial pool is a significant investment that requires careful planning and budgeting. From site preparation to ongoing maintenance, every aspect of commercial pool construction demands careful attention to detail and strategic financial management. will impact the overall cost.
Each type of disaster poses unique risks, making comprehensive planning essential. Develop a Comprehensive Disaster Recovery Plan The cornerstone of disaster-proofing a business is a robust disaster recovery plan. Adequate coverage can mean the difference between bankruptcy and a swift recovery.
You probably saw last month’s report about a major accident at a construction site in downtown Miami, Florida. This is a good reminder of the lessons to learn when investigating or handling an accident on a construction site. Make sure medical issues are resolved immediately and lock down the site for evidence preservation.
In construction, jobsites and their conditions are never the same, which means processes can vary from site to site. For example, drones can be used to record real-time construction data on the job site. Improve Project Management. Improve Communication and Collaboration. Get Faster Business Insights.
Essential startup requirements include legal registration (50-150), comprehensive insurance coverage (2,000-5,000), basic equipment (15,000-50,000), and sufficient working capital (20,000-50,000). You don’t need a massive investment to get started – some successful construction companies began with just basic tools and equipment.
In the construction industry, ensuring the safety of workers is vital, especially when it comes to those working on-site, unsupervised, for an extended period. At Maltaward, we understand these challenges and offer cutting-edge CCTV solutions that not only protect your site but also enhance the safety of your lone workers.
In the construction industry, risks are an inevitable part of the process. A project may face all types of misfortunes, from on-site accidents to unforeseen delays or equipment failure. In these scenarios, insurance in construction provides a protective shield for the financial stability of a business involved in construction.
Given the increasing severity and frequency of flooding, a proactive approach to drainage management is more critical than ever. Assess Site Topography and Work With an Expert Understanding your site’s topography is crucial for effective drainage. Bioswales : Filter pollutants and manage water flow naturally.
In this article, we’ll explore the most common jobsite safety risks — and what contractors can do to improve safety for all parties involved. . Common jobsite safety risks. Risks to employees are a top priority for contractors, and threats to health and safety aren’t the only cause for concern. Make safety a priority.
Builders who actively manage construction costs can save a lot of money while keeping quality high. If effectively managing construction costs is your top priority, then reading this article is worth your attention. If effectively managing construction costs is your top priority, then reading this article is worth your attention.
General contractors recognize the necessity of insurance as not just an expense; rather it serves to safeguard them against unforeseeable disruptions that can wreak havoc during their construction projects. Heavy machinery on a construction site can sometimes cause property damage by inadvertently harming structures or other assets on site.
The post Learn About the Latest News on UK Government Plans to Utilize More Timber in Construction, CBO Mike Firenze Joins Dome Construction, UK Builders Caught Committing Malpractice, and Marsh and Beazley Expand Construction Coverage appeared first on UK Construction Blog. million) Woolwich apartment complex. Not everyone is caught.
Budget-busting design omissions, unforeseen conditions and everything in between can affect a project’s bottom line; for this reason, construction project riskmanagement is one of the most vital functions of cost estimation. Common risk factors on construction projects include: Feasibility. Inclement weather.
We organize all of the trending information in your field so you don't have to. Join 79,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content