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4 Ways Project Managers Can Save Money on Construction Projects

As project manager, it’s your job to make sure a project is completed. Responsible for the planning, coordinating, budgeting and supervision the project from start to finish, you are the point person. You make sure everything goes smoothly – even though it probably won’t. (It’s the sad truth, my friends.)

Despite the hours spent planning and coordinating, we know issues and setbacks will arise, and it’s up to you to oversee and make sure those issues are resolved – all in a timely manner, of course. Not only is it your duty to ensure the job is completed on time, you must also do it within budget!

Luckily, you’re not alone. You have the help of building specialists including architects, engineers, and your team of trade contractors. However, “too many hands in the cookie jar” is often the culprit for things getting out of hand, costs increasing quickly, and work not being completed on time.

We know how competitive the construction world is, and we want to make sure as project manager, you’re able to help save money on construction projects, not spend more than you have budgeted.

While there are various are to make cuts and save money, here are four ways to consider during your next (or current) project:

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Is Time Really Money?

You’ve heard it again and again: time is money. But what does it mean?

“The less time the electrician has to think about what he needs to do, the more work he’ll get done,” said Gordon Stewart vice president and general manager for Houston-based Joe Swartz Electric Co. [Source]

The good news is that you don’t need to be a rocket scientist to trim costs toward winning jobs and improving margins. On most projects, eliminating time wasters requires attentiveness, calculation and approach.

In Denton, Texas, Humphrey & Associates discovered that 20' length EMT was perfect for high bay lighting installations. Tommy McCormick, Humphrey’s project manager and estimator, saw the potential to cut both labor and coupling costs in a variety of installations, reporting that, “You can just fly when you are using it in elevated installations. I’d assign the savings largely to the faster installation times though you also use fewer couplings. The difference is in the speed of the installation.” McCormick acknowledged initial issues with transportation logistics needed to be overcome, but emphasized, “Even with those issues, it was still a big savings for me. I did a lot of high bay lighting jobs with it, and it was a tremendous time saver.” Read the full case study here.

So just how much do you think you might save? Here are three installation efficiencies that equal major advantages on the job:

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