What measures are you putting in place to lower project costs? Given the current climate, many contractors are left scratching their heads, wondering how to achieve this. If that sounds like you, read on as we have 5 ideas for reducing costs without compromising project delivery.
Reducing construction costs by 33% sounds like a tall order for most construction contractors, especially when margins are already tight, we are living with labour shortages and, in some trades, suffering supply chain issues that have resulted in higher costs.
When considering how a contractor can lower costs, thoughts often point towards making significant project changes, such as changing material specifications, method of build or even the design of a structure. Or worse still for the average subcontractor, squeezing the supply chain even harder to deliver the same quality but for less money.
But the picture really needn’t look like this. There are multiple, more subtle ways you can reduce the costs associated with project delivery, simply by introducing the right technologies into your business.
Reduce costs without compromising project delivery.
Like our Chalkstring customers, you too can use project cost management software to:
1. Maintain complete control of project costs at all times.
Review all projects in real-time enabling you to identify over-budget projects and take corrective action before it’s too late to have an impact.
2. Reduce waste.
Eliminate over-ordering. Only order what’s needed and make more accurate waste allowances. Know what unused materials are onsite in real-time.
3. Ensure you’re always paying the best price.
Easily identify and select the most competitive supplier pricing to ensure you minimise your project costs and maximise margin.
4. Never overpay on labour again.
Manage incoming labour applications efficiently & easily identify if subcontractors are overbooking work.
5. Consolidate software costs.
Reduce the number of different software packages you’re paying for. Use one integrated, streamlined system instead.