Tag Archive for: capital project material management

Hiring Direct vs Contract Labor for Construction Projects:

A Comprehensive Comparison

When embarking on a construction project, one of the critical decisions that project managers and business owners face is whether to hire direct employees or utilize contract labor. Each approach comes with its own set of pros and cons, which can significantly impact project timelines, costs, and overall success. In this article, we will explore and compare the advantages and disadvantages of both methods and provide a cost analysis to help you make an informed decision.

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What’s in a Name?

“The subtle and not so subtle differences between Project coordinator, Project Specialist, and Project Administrator”

People often ask what’s the difference between a Project Coordinator, Project Specialist, and Project Administrator. All are important roles and necessary in the planning and execution of construction projects, and each have distinct responsibilities and focus areas. While all three roles play crucial roles in construction projects, their primary focus and responsibilities differ in the following ways.

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The construction labor market stands as a vital pillar of the global economy, employing a diverse workforce ranging from professionals and technical experts to skilled and unskilled laborers, all contributing to the inception, development, and execution of construction projects. This sector’s influence on the economy is substantial, with a market size valued at approximately $1.8 trillion in the United States alone in 2022, representing approximately 4% of the country’s GDP. This industry provides livelihoods for around 8 million construction employees nationwide.

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The world has moved from a period of surplus to one of shortage and scarcity.

Due to the COVID shutdowns and the conflict between Ukraine and Russia, the world has moved from a period of surplus to one of shortage and scarcity, and there is nowhere where this is clearer than for construction materials. Prices have skyrocketed and lead times have doubled or even tripled in length yet as whole we have not done much to reduce waste of these valuable and increasingly scarce resources.

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Data management for the construction industry has become a very critical part of successful project and material management execution.

Data management plays a crucial role in material tracking for the construction industry by providing accurate and up-to-date information about the location, quantity, and status of materials. Here are some specific ways in which data management can help in material tracking:

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Capital project material management is one of the most underutilized and underappreciated strategic value drivers in the construction industry today. During lean times, material management can provide budget support in a number of ways. Considering that a typical project BOM may account for the 70% of the overall project expense, material management can not only help companies obtain materials at the lowest possible cost but also maximize the construction material work effort from cradle to grave.

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