Construction Estimates Analysis

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In a construction business, the importance of the accuracy and the precision of the cost estimates of projects cannot be overstated. Overestimates causes one’s bid price to rise, resulting in the loss of opportunities. Underestimates keep one’s margin below what the market can support. Needless to say, it is highly desirable to have estimates as close as possible to the actual cost. 
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Manpower Planning Using Resource Heat Maps

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With the unemployment at a historic low, shortage of skilled manpower is a major challenge faced by construction companies. Unable to hire to fulfill their manpower needs, it has become more important for companies to know their projected resource shortages well in advance while managing with the manpower they already have. With a lot of data to wrap one’s head around, forecasting manpower needs and fulfilling them can be very challenging. This is when insightful visualizations of manpower data using a series of role heat maps can be very helpful.
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Construction Employment Continues to Rise

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Construction employment continues to rise in a large majority of metros throughout the US. According to a report published by the Associated General Contractor of America (AGC), compared to August  2017, construction employment in August 2018 increased in more than 80% of the 357 metros reported, remained flat in 10% and fell in 10%. The report was based on the construction employment data published by the Bureau of Labor Statistics (BLS) for 357 metros.
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How to Effectively Visualize Construction Project Financials using Sankey Diagrams?

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Whether in the midst of a project or after the end of it, it is vital to understand where the project money went and how different components contributed toward or away from the project’s profitability. As always, there are many ways to visualize such information using all kinds of graphs and charts. However, certain visualization techniques are more effective than the others in conveying such information. In this post, I want to explore the use of Sankey diagrams for such purpose with a simple example.

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Measuring Construction Efficiency & Productivity

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According to data published by The US Bureau of Labor Statistic in 2014, labor productivity in the construction industry has been declining over the past several decades while it has been growing in other major industries at an annualized rate of about 3%.

Leaving aside the question of why the trend is negative, one cannot stop wondering why the productivity growth in the construction industry pales in comparison to that of other industries. The reasons cited include everything from the tighter labor regulations to insufficient investments in information technology.

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6 Practical Methods for a Construction Dashboard to Retrieve Data

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Based on your business objective or needs, you may have decided to monitor certain construction KPIs. As a theoretical exercise, that may sound relatively straightforward. But, as a practical matter, how do you get data for your KPIs? Where do they reside and what does it take to bring them all together so that you can compute and monitor your KPIs effortlessly at all times?

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What KPIs Should a Construction Firm Monitor?

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The primary purpose of monitoring KPIs of a business is to get an insight into its past or expected future performance. But just monitoring KPIs for the sake of monitoring it, does not do a business any good. Executives want to use the insights gleaned from KPIs to make decisions that make a positive impact on their businesses. But what KPIs should one monitor? Answering this question can be very tricky.

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