Understand Your Trailer GVWR (Gross Vehicle Weight Rating)
WEBNov 2, 2011 · While the GVWR is rated at 14,600 pounds, the GAWR or Gross Axle Weight Rating is still only 12,000 pounds and you cannot exceed that capacity rating. In this case, you still have to include the 2,600-pound trailer weight. That weight must be transferred to the tow vehicle, but that transfer is also limited by the hitch capacity.
How to Read Your Financials - Costs in excess of billings
WEBNov 2, 2011 · Working capital is defined as the total of "current assets" comprised of your cash, receivables, retainages, costs in excess of billings, work-in-progress, inventories and prepaid expenses minus your current liabilities. Your current liabilities are comprised of your lines of credit, principle payments of debt due within twelve months, accounts ...
The Most Common Types of Construction Fraud
WEBNov 2, 2011 · Falsifying Payment Applications. False pay applications account for more than half of construction frauds. These applications can happen several ways- through erroneous totals or line items, roll-forward errors, false invoices or inflated rates in the supporting invoices that do not reflect the actual costs incurred.
A Contractor's Guide to OCIPs - Construction Business Owner …
WEBMay 24, 2012 · Mike Hastings is a national project risk practice leader within Marsh’s U.S. Construction Practice. Over the past 17 years, he has taken a lead role in developing and implementing Marsh’s consultative approach to construction project risk management, including risk identification, financial modeling, loss control and mitigation, insurance program design, and consulting services for company ...
How the Additional Insured Clause Puts Contractors at Increased …
WEBNov 2, 2011 · The following risk management protocols are recommended: Update all subcontracts and purchase orders to reflect these changes in additional insured endorsements. Many endorsements "follow" the subcontract requirements. Additional insured coverage will "mirror" the contract. Be specific on what is required.
The Top 4 Hazards in Construction
WEBNov 2, 2011 · Electrical hazards, the third leading cause of construction fatalities, account for 12 percent of deaths for younger workers. Power Lines -Contact with power lines can cause electrocution, burns, falls from elevations, explosions and fire. Working on or near cranes, ladders, scaffolding, backhoes, scissor lifts, aerial lifts and dump trucks ...
13 Construction Technology Trends to Watch
WEBDec 9, 2020 · 1. Building Information Modeling. Building information modeling (BIM) has become the most commonly used technology in the construction industry. Seventy-three percent of United States contractors surveyed by Dodge Data & Analytics report utilizing BIM, with 79% of those using it on more than 30% of their projects.
Developing a Strategic Construction Business Plan for Growth
WEBJan 2, 2011 · Align and execute. Communicate your strategy internally at every possible opportunity. Define priorities for salespeople and align those with compensation plans. 5. Review and measure. Test your assumptions, demand proof they are working, and learn from your experiences. 6. Evaluate and modify.
Construction Jobsite Safety: Handling Construction Materials
WEBNov 2, 2011 · The ability to handle construction material safely is vital to the proper functioning of any construction jobsite. The planning and mobilization of raw material and equipment is an important aspect of completing the job on time. Just think about it-in the early stages of jobsite development, there are heavy equipment operators doing …
How to Win Construction Bid Proposals
WEBFeb 15, 2019 · It’s a simple change that can have a gigantic impact on your ability to win bids. 2. Talk to the Client. Of course, being first won’t keep you on top of the client’s mental list forever. You must nurture the relationship you’re building and keep redirecting the client’s attention to your proposal.