Contract Sum: Any construction contract should indicate the contract sum, which is the total value that the project owner will pay the contractor for the execution of work. The contract sum should cover all the project costs and expenses plus the contractor’s profit margin. Retainage: The proje...
The pipeline of private non-residential construction work yet to be done increased recently, reflecting additional commercial projects. By contrast, the outlook for dwelling investment has been downgraded. Demand for new detached dwellings is expected to be soft as a further decline in established ...
In 2023, the value of construction work in Malaysia was valued at approximately 132 billion Malaysian ringgit, indicating an increase by more than ten billion Malaysian ringgit compared to the previous year. The construction sector in Malaysia has begun to recover after being negatively impacted by ...
Workyard is built from the ground up to support the needs of fast-moving construction and field service businesses.Workyard’s contractor scheduling softwareis part of a workforce-management system that includes time-tracking, task tracking, labor compliance, and other tools. Widely praised for its...
Understanding Work Dates and Calendar Dates In this module, the difference between working dates and calendar dates is explained and how to chart both in a project plan. WEEK 3 Activity on Arrow Activity on Arrow diagrams are the topic for this module. Professor Odeh will discuss how to draw...
Once the sales price is determined, a bid manager will typically create a construction proposal that details everything included in the bid price in clear and concise terms. Because bid reviewers will try to ensure that everything in the scope of work is included in the bid price, it is im...
The price of this skin is very reasonable, and user impressions are extremely positive. The list of features is overwhelming, too long to list here. However, as a customer, you must know that BeTheme can give you access to every tool in the web developer’s arsenal. ...
Once a contract is signed, the bill of quantities can be used to create payment applications as the work progresses. The contractor notes the quantities completed each month on the form and multiplies it by the price for each item to get the invoice amount. ...
They are used by project managers, general contractors, engineers and architects to track work that must be completed to comply with the terms of the contract. The general contractor on the project usually creates a punch list during a process known as the punch walk. ...
The last step in the construction phase is known as thepost-construction phase. This phase starts once the construction work is done and the project is coming to a close, which means that the construction manager will use a punch list to catch any work that still needs to be completed. Bu...