by Kurt Clayson | Nov 1, 2024
The financial metric representing the revenue from a construction project minus the direct costs of executing the work (materials, labor, equipment). Gross profit helps assess a project’s profitability before overhead and taxes. Use margin and markup... by Kurt Clayson | Nov 1, 2024
A type of construction contract where the contractor agrees to deliver the project within a set maximum price. If the project costs exceed this limit, the contractor absorbs the additional expenses, providing cost certainty to the client. by Kurt Clayson | Nov 1, 2024
Expenses directly related to the physical construction of a project, including materials, labor, equipment, and building permits. Hard costs are tangible and typically constitute the majority of a construction budget. Track expenses and ensure profit margins are hit... by Kurt Clayson | Nov 1, 2024
The systematic process of identifying, evaluating, and mitigating potential risks and hazards on a construction site. Regular hazard assessments are essential for preventing accidents, ensuring worker safety, and complying with regulatory requirements. by Kurt Clayson | Nov 1, 2024
Large machinery used in construction projects for tasks like excavation, lifting, earthmoving, and material handling. Examples include bulldozers, cranes, excavators, and loaders. Managing heavy equipment requires operator training, maintenance, and adherence to...