When managing a construction project, keeping a close eye on costs is essential. That’s where Cost Value Reconciliation (CVR) comes into play. It helps you monitor and measure actual spending against your budgeted project costs, giving a clear picture of your finances...
We’re constantly saying, “Don’t undervalue yourself,” and “Don’t submit a cheap tender bid for the sake of it.” It’s a race to the bottom that even if you win, you end up losing out on hard-earned cash. But what do you do when you submit a tender bid that’s over the...
In construction, contingency refers to a specific amount of money set aside within your contract to cover any unforeseen circumstances or costs. Think of it as a financial safety net. It’s there to help you manage any unexpected surprises. As a contractor, you can...
Every home and business has been hit by inflation. With rising costs across every industry, construction is no different. Our industry has been hit with high inflation rates, leading to various cost challenges in the sector. This has a knock-on effect on your cashflow...
Tenders are a dime a dozen. You hear that ping of a notification as another one lands in your inbox, and you think you’ll look at it later because you’ve got clients and paperwork to deal with right now. But later comes and goes, and before you know it, you’re...
