Remove contractor-payment-schedule-for-construction
article thumbnail

How to Make a Contractor Payment Schedule in Construction (Template Included)

ProjectManager.com

Construction projects are often long and complicated endeavors. Payment is determined in the contract process, which includes the contractor payment schedule. Let’s look at the construction payment schedule to fully understand its benefits. What Is a Contractor Payment Schedule?

article thumbnail

Schedule of Values in Construction (Example & Template Included)

ProjectManager.com

Creating a schedule of values is important for the project owner, contractor and subcontractors alike. It can be used to communicate what’s needed in the project, the costs associated with the activities and the management of payments. Then we’ll link to a free schedule of values template to help you get started.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Should You Include in Your Preconstruction Meeting Agenda?

ProjectManager.com

Construction projects are structured with schedules, budgets and resource allocation. Many people work on them, from general contractors overseeing subcontractors to architects and, of course, the project owner. Everyone involved in the construction planning should attend the preconstruction meeting.

article thumbnail

Creating a Request for Quote (RFQ) for Procurement

ProjectManager.com

Suppliers and contractors deliver those products and services that help fulfill the project. Managers want to stay on budget and resources cost money, which is why they use a request for quote (RFQ) to get pricing from suppliers and contractors. Projects need resources, often consistently. What Is a Request for Quote (RFQ)?

article thumbnail

Post-Construction Phase: How to Close a Construction Project

ProjectManager.com

This is doubly true with construction projects in what’s called post-construction. What is post-construction? We’ll answer that first and then explain what activities occur during post-construction and the various types of documentation that are used. What Is Post-Construction? Here are some of the most important.

article thumbnail

What Is a Construction Lien Waiver Form?

ProjectManager.com

This could be a sticky point in construction, which is why a lien waiver is used in that industry. A lien waiver form between the payer and counterparty, which is just a fancy way of saying the seller, is commonly used in the construction industry. The lien waiver form is essentially a receipt for payment.

article thumbnail

How to Manage Project Cash Flow

ProjectManager.com

Positive cash flow is the income or receipts of the project, while negative cash flow are the expenditures or payments. You can look at project cash flow as the schedule of payments that an owner has to make to build a project over a period. If you add the component of time, then you have flow speed.