What is T&M?
In the field of engineering and construction, T&M stands for Time and Materials contracts involving two parties. T&M contracts have a timeframe attached to them with an agreed price for labor and materials. T&M contracts are used when both parties...
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What is a RFI in Construction?
RFI is a construction process that is designed to achieve success. By success, we mean the fulfillment of set goals and objectives. For many projects, stakeholders place unrealistic expectations for construction companies. To make them a lot more realistic, architects,...
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How to Estimate Construction Costs
The art of estimating construction cost is a process or procedure of accurately forecasting the cost of completing a building project from start to finish. As we all know, erecting a building is capital intensive, so concerned parties want to...
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Project Management Skills
8 Project Management Skills every Construction project manager should have Project Management skills are overly important for project managers because they simplify the decision-making process. If you want to be a very successful project manager, there are skills you should...
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Project Management Process
What is the Project Management Process in Construction Management? Stakeholders in the construction business pay as much attention to the project management process as professionals do in other fields. In the project management process, there are basically five stages which...
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How to Calculate Direct Labor Cost
There are two types of costs that construction organizations deal with on a daily basis in the workplace. These costs are direct cost and indirect cost. Although both costs are important, premium consideration is placed on direct cost because of...
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What is Construction Estimating?
Construction estimating is an all-important process that is part and parcel of construction project management. This process involves the anticipation of the total cost for a construction project. Essentially, the success or failure of a project starts from the point...
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What is a Summary Report?
In the construction industry, the value engineers, architects, designers, and investors place on reports is huge. Stakeholders rely on summary reports to make immediate and future business decisions. A summary report is a document that provides information about Site description...
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What is Risk Management?
Risk Management is defined as the process of assessing, identifying, and controlling potential threats to an organization or a project it has undertaken. Threats could come in different forms, such as legal liabilities, spiraling financial losses, a significant increase in...
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What is Change Management?
What is Change Management in the Construction industry? Change Management is a broad term used by experts to describe the guidance, preparation, and execution of new plans. In the construction industry, change is effected with the aid of planning tools....
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