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FIVE STEP REVENUE RECOGNITIONIt’s time to get ready for the five-step revenue recognition standard.   

By Jennifer Costello

Since the beginning of time, or at least that’s the way it feels, construction contractors have recognized revenue from long-term contracts using the cost-to-cost percentage-of-completion method. Under this method, judgment and subjectivity were pretty much nonexistent. There were rules, and we followed them. 

FINANCIAL MODELING FOR CONSTRUCTIONHere are some project management best practices in financial modeling.   

By Paul Brussow

With construction costs comprising between 60 percent and 85 percent of the budget for commercial developments, the need to efficiently oversee and balance resources is a top priority. Key to this challenge is the project manager (PM), who synthesizes data on costs, materials and time to maintain the integrity and momentum of the job. 

DATA CENTER CONSTRUCTIONLocation matters for data center construction.   

By Steven Cooke

In today’s hot commercial construction market, the data center-building sector stands out as a particular bright spot. Driven in large part by the booming cloud services and IoT markets, data center construction in the United States is expected to grow by more than six percent a year through 2022. And as demand for data-related services continues to grow, more and more companies are entering this high-growth sector or expanding their current operations to take advantage of the seemingly limitless demand for more data.

COMMUNICATION MISTAKESHere are seven steps to prevent common mistakes in contracts.   

By Julia M.I. Holden-Davis

Construction contracts come in many shapes and sizes: from a handshake to several hundred-page agreements with numerous attachments. No matter the size, many of the same concerns exist and must be addressed. Here are seven questions to ask yourself to avoid some of the most common mistakes:

CONTRACTORS AND ELDER ABUSESeven ways to protect contractors from potential financial elder abuse claims.   

By James C. Earle

Financial elder abuse is a new area of potential civil and criminal liability for California contractors. This article outlines the relevant laws and the steps contractors can, and should take to mitigate the risks of liability.

VAPOR INTRUSIONThe first step to solving a vapor intrusion problem is recognizing it.   

By Wesley Robb

Vapor intrusion (VI) occurs when petroleum products or volatile chemicals contaminate groundwater, soil or a vapor plume then migrate into the breathable air of a building. It is a concern that was first brought to the public’s attention in the 1980s, but only recently grew awareness to the point where building developers are routinely exploring solutions for mitigating the risks associated with VI. 

PROJECT BUDGETINGWatch out for these pitfalls to accurate project budgeting.   

By Steve Nelson

Those who have ever had to create a construction project budget know that it’s part science, part art form, part relationships and – to be frank – part luck. Having said that, these are some common pitfalls that – if left unaccounted for – will cause a great deal of problems when trying to manage costs and the project design.

CONSTRUCTION CONTRACTSContract management technology has helped firms mitigate risk.   

By Timothy Donaghy

Contracts are the cement and rebar that help form the foundation of any company. This is particularly true in the architecture, engineering and construction industries. In this arena, contracts not only serve as the agreed-upon terms that exist with suppliers, subcontractors and customers, but also stipulate how those terms will adhere to many of the laws that exist in this heavily regulated space. This has become such a specialized discipline that the American Society of Civil Engineers even offers a course dedicated to construction contract management.

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