4castplus Blog

4castplus Blog

16 16, 2019

Overhead Costs are the Silent Killer of Project Profitability

Most contractors today exist in a very competitive landscape where margins are tight, and customers are demanding.  This leaves them little room for error when executing on projects – otherwise their profits will quickly be eroded, their reputation damaged, and their ability to sustain a healthy, growing company will be severely compromised.

 

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01 1, 2019

Labor Productivity and Lean Construction

By Charlie Rose | April 1, 2019 | Categories: Jobsite Cost Tracking | 0 Comments

There is a growing movement in the construction industry to adopt LEAN principles to streamline jobsite labor productivity.  As one of the primary costs of construction, labor alone constitutes as much as 30% of overall project cost, and represents the cost that is most subject to uncertainty and risk.  This risk is predominantly due to compromised site productivity on projects where there’s a high degree of wasteful, non productive labor time. 

In fact, it’s common to view labor productivity as the sole determining factor of overall project performance and profitability – i.e. project success or failure is directly dependant on labor productivity.  Other primary project costs – such as procurement, equipment, materials and engineering – can have associated risk and uncertainty but are marginal in comparison to risk associated to labor productivity.

 

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04 4, 2019

Oil and Gas Contractors Look to 4castplus for Efficiency and Competitiveness

Statistics show that more and more Oil and Gas contractors are moving forward and embracing better technology to streamline their businesses.  Contractors in many industries have been a bit late to adopt software as a means to improve their profitability - but that is changing fast.  This is partly due to the near-collapse in oil prices that haunted the industry over the past five years; which has recently been creeping up into the $60/bbl range to make things profitable again. During that period, companies had been searching for ways to remain profitable, and many turned to technology such as project cost management solutions to secure that profitability.  This momentum is continuing, as companies aren’t prepared to take a risk on another fall in prices.

 

 

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27 27, 2019
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12 12, 2019

Project Procurement Belongs with the Project Team, Not Finance

If you were to ask any CFO or Controller which department should be responsible for all Procurement for the company, they would naturally respond with the Finance Department. On the other hand, if you were to ask any project controls professional about procurement, they would naturally respond with the Project Team, they should own procurement. 

So, who’s right?

 

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28 28, 2019

The Raging Pipeline Debate

By Claire Beckham | January 28, 2019 | | 0 Comments

There is a very heated and divisive debate going on in many areas of North America about pipelines.  More specifically, a debate about whether or not to build new pipelines to move Oil and Gas from where it’s extracted, to one of the several refineries available across the continent.  It’s an ideological clash that is steeped in near-religious conviction, misinformation, economic consequences and two sides that have dug in their heels; neither of which is prepared to budge.

Pipeline proponents will argue that pipelines are the safest, cheapest and most reliable way to move oil and gas. They provide jobs, wealth and access to markets for a valuable commodity.  Opponents however, claim that we need to reduce our carbon footprint, so pipelines represent further destruction of our fragile environment.  Both sides, of course, have valid points, wherein lies the dispute.

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08 8, 2019

How to Link a Change Order to a Purchase Order Revision

In this article I’m going to go through the basics of how, after creating a change order in 4castplus, you can go on to make any revisions to purchase orders based on the details of that change order. First, however, I’ll clarify a bit of terminology in terms of the difference between a change order and PO revision:

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12 12, 2018

Your Corporate Data is a Gold Mine - Take it Seriously

 

For any organization, their corporate data is one of the most important assets they possess. The information they gather on a daily basis forms the core of who they are, where they’ve been and where they’re going. The monumental technology changes going on in the world today have made ‘Data’ the central element that determines success or failure for most any company.

 

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22 22, 2018

Get it Right the First Time

On any day of any major construction project, a ton of information is being collected about that project. Including: costs, hours, activities and progress; along with a variety of documents, photos, invoices and receipts.  Feeding all this data to the project managers is critical to enable them to bring the project to a successful completion on time and on budget.

 

Construction Cost Tracking Software

 

The thing is, all this data that’s collected needs to be both accurate and complete, otherwise it’s not much use to anyone. Not only that, but it also has to be timely – meaning that, giving project managers data that several weeks old doesn’t really help much. It needs to be current, like from today, otherwise you’re managing the past, which is not only ineffective, but frustrating.

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16 16, 2018

4castplus in Action: Multiple Divisions Under One Roof

A few months ago, the team at SECURE Energy Services approached us at 4castplus with a situational challenge that they needed to have resolved. The problem they were experiencing, was that the multiple business divisions using 4castplus as their core operational solution, were deployed into separate 4castplus accounts. While each division was happy with the software and its value to their business unit, this approach introduced some corporate-level challenges.

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