Modern building construction is a high-tech, high manpower, and highly leveraged industry. Construction is one of the most lucrative, but also one of the most diverse industries. Reducing costs and increasing productivity is paramount to the success of a modern construction company.
Reed Construction Data and RSMeans have provided extensive construction cost data for the U.S. construction industry for more than 70 years. The data is available in various formats with 24/7 access. Architects, engineers, manufacturers, distributors and contractors rely on the information to maximize productivity and profits.
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Cost Effective Commercial Building Construction
Cost effective building construction for commercial buildings comes down to effective planning. From design to a finished building, an efficient marriage of all of the necessary construction elements including site development, equipment delivery, labor, materials acquisition, and permits have become more important than ever in controlling costs.
Commercial building construction must be meticulously planned and all parties involved with the project must be in constant communication to ensure that building construction costs are under control at all times.
The local economy, type of construction, cost per square foot, and competing estimates are critical factors when considering construction building costs.
Streamlined, efficient construction accounting software allows authorized personnel to keep track of the financial aspects of the project from start to finish.
Cost Effective Industrial Building Construction
In the U.S., New York is most expensive on a dollar per square foot basis for construction costs. On the east coast, Los Angeles, Seattle and San Diego, construction costs are 13 percent to 17 percent lower than in San Francisco.
The most expensive structures to build are jails, prisons, police stations, courthouses, and hospitals. The least expensive industrial structures to build are low-cost parking garages.
Industrial building construction requires great diligence to keep costs under control. Cost effective industrial building construction is only possible when estimates are accurate.
A comprehensive construction accounting solution is critical in recording and maintaining costs of materials acquisition, site development, labor, and other important data.
The much larger scale of industrial building construction and the environmental laws and regulations make it a must to keep accurate records and figures, and in doing so the construction company will be more cost effective and their bottom line will be all the better for it.
Cost Effective Residential Building Construction
Considering the various types of building construction, residential building construction is usually on a smaller scale. However, keeping each project on track and with accurate figures is just as important. This is because the company is building a home for a family. Residential building construction customers can be more exacting and more demanding with regard to the details.
The finished project will be their home and attention to detail, especially sticking with the construction budget and not going over the allotted construction time are all paramount to a happy customer and a growing construction business.
The Bottom Line On Cost Effective Building Construction
Although there are obvious differences between industrial, commercial, and residential building construction, the bottom line is that whatever the type of construction project, you simply must keep all facts, figures, equipment, and personnel on the same page.
The best way to accomplish this monumental task and keep your construction company efficient, profitable, and continually growing is by the use of professional construction accounting software.
The peace of mind in knowing that your construction project is under budget and on time will go a long way toward ensuring the continued success of your construction, contracting, or real estate business.