ConstructConnect Blog

All construction projects carry some level of risk. Being able to identify and manage risks requires skill, careful planning, and being able to make good decisions quickly. When risks become reality, they can be detrimental to the successful completion of your project. Properly managed risks can lead to higher profits, stronger relationships with clients, and the ability to grow and expand your business.

Is your construction firm planning to increase headcount in 2022? That could prove to be a difficult task. According to a recent survey by the Associated General Contractors of America, 88% of construction firms indicated they are experiencing project delays and worker shortages are the second leading cause (61%) cited behind longer lead times or shortages of materials (75%).

In construction, late payments are common, and it takes considerably longer for construction businesses to get paid. For construction businesses, the average daily sales outstanding (DSO)—the time it takes to collect on invoices—is 60 days. The general DSO average across various business sectors in the United States is 45 days.

Originally published on June 8, 2016. Last updated on April 29, 2022. Let ConstructConnect provide you with a few construction site safety tips for workers and employers.

When one thinks of artificial intelligence or machine learning, one of the first things that comes to mind is a far-off, sci-fi scenario whereby a man-machine prototype like “The Terminator” takes over the world and all of humanity is at its mercy. That picture of artificial intelligence (AI) is best left in the realm of the imagination, for now at least.

I hate to state the obvious, but if you are planning a new commercial construction project, your work has already begun. Break out your to-do checklist and prepare for what may not be as obvious or simple to calculate. These would be the costs, both planned and unpredictable, involved with bringing a commercial project to life. The steady uptick in costs from year to year has made access to materials, land, and labor a tough commodity. Detailed budget planning and strategy are necessary during preconstruction to bring the bottom line to light before your project hits rock bottom.

As the need for construction is growing tremendously, companies have to keep pace properly. Construction companies are handling expansion by embracing new technology in construction. There are numerous technologies available at present. New technologies persist in forcing construction companies to grow.

The recent announcement of a new data facility in Temple, Texas, for social media giant Meta, is further proof that the state is on a data center roll. Meta, formerly known as Facebook, will begin construction of a 900,000 square foot Hyperscale Data Center this spring on a site covering almost 400 acres.

Construction companies are in business to do two things: build things and make a profit. So why do so many excel at the first thing but struggle to be profitable?

Work is expected to begin next week to completely straighten the Leaning Tower of Pisa. The tower, known for its iconic tilt, began rapidly sinking again last year. This comes after the tower had been self-correcting its lean because of stabilization work that ran from 1993 to 2001 to prevent the structure from falling over like a giant, poorly built Jenga tower. The corrective measures, along with the decade-plus autocorrect, managed to straighten the tower by about 18 inches.