Finding new ways to cut overhead costs is typically a top priority of many industries, but especially in construction. Over the past few years, construction spending has continually increased, and unfortunately, according to the EPA, much of it ends up as waste in landfills. [bctt tweet=”Reducing #construction costs benefits everyone and there is no need to sacrifice quality, either!” username=”HSIServicesInc”]
Cut Construction Costs
There are some simple ways to cut costs, maximize value for your customer and minimize waste. Below are five ways contractors can cut construction costs and boost profits without sacrificing a thing.
1) Get Technical
It’s 2018. It is time to put down the yellow pad and invest in some software. There are a variety of construction-related applications available and most can be downloaded on a mobile device. Make sure to look for software that can integrate with the company’s other software applications. Using technology to manage construction projects increases workflow efficiency, and cuts costs without affecting output.
2) Create a Plan
A master plan is key to cutting building costs and minimizing monetary waste. Your plan needs to include cost management, time management, quality management, the contracts, safety management, scope, and more. A project manager should oversee this plan and keep it updated throughout the construction process to ensure everything is happening as planned and documented.
3) Eliminate Waste
Construction waste is a major issue. In 2014, the EPA reported that 534 tons of construction waste and demolition debris ended up in our landfills. Not only does this waste negatively impact the environment, but it also impacts your bottom dollar. By utilizing your project plan, you can purchase only what is needed and necessary. This helps cut down on spending, as well as waste. Make sure to recycle and reuse as much equipment and supplies as possible.
4) Invest in Quality Tools
Quality counts and investing in quality tools that will last years will help cut costs in the end. If you try to save money by buying cheaper tools, you will end up replacing them and spending more money than first thought. Also consider purchasing products that are reusable, such as an Aqua-Barrier® Cofferdam for projects requiring dewatering. Typically people waste time and effort using traditional sandbags, but cofferdams environmentally friendly, and are able to be reused, then stored away when finished.
5) Shop Around
You might be surprised at some of the new tools, applications, and materials on the market. If you have been using the same supplier or manufacturers for years, take some time to check current market prices to see how things have changed. Shop around the find the best quality products at the best price. You can also consider leasing equipment instead of purchasing if you are only going to need it for one project.
Boost Your Bottom Line
As mentioned, cutting costs is an important factor in all industries–but especially in construction. By following the above tips, you will be cutting costs, creating efficiency, and eliminating waste without sacrificing quality.
To learn more about how you can cut construction costs on your next project, Contact Us.
