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Showing posts from September, 2019

Payment Bonds on a Private Construction Project

Surety bonds are a very efficient way to shift the risks associated with construction away from project owners. For this reason, both the federal and state governments require that contractors performing on projects over particular dollar amounts get bonded. But securing a project with a surety bond is not limited to government projects. More often than not, private construction projects also make use of so-called contract or construction bonds to secure financial guarantees. For example,  bonds that guarantee payments  are a very efficient way of protecting subcontractors, laborers and suppliers and mitigating risks for the project. However, how these bonds work and why they are useful is not always understood. HOW PAYMENT BONDS WORK When a surety issues a bond to a contractor, it guarantees to the project owner (the bond obligee) that the bonded contractor will comply with their obligations under the contract. А payment bond in particular guarantees that the contrac...

The Advantages of Virtual Reality in Construction

Virtual realty provides an unparalleled spatial sense for visualization at a lower cost than full-scale replicas. Today, VR is being used heavily in preconstruction to align owner expectations and educate design team stakeholders. For those already employing BIM solutions, coordination can be made much more effective by leveraging existing design models with very little added cost. As anyone who has tried a VR headset before can attest, the ability to accurately perceive spatial relationships in design cannot be replicated through traditional 2D media such as screens or paper. VR solutions also have the ability to iterate rapidly. These technologies are linked to BIM, providing real-time feedback as the design changes. This is in stark contrast to traditional full-scale mockups and offline renders, which are cumbersome and time-consuming to update with design changes.  SUBSTANTIAL BENEFITS WITHOUT A HEFTY PRICE TAG Budget limitations and ROI are always a concern with emergi...

How to Achieve an Injury-Free Jobsite

Out of the more than 4,500 workers who were killed at work in 2016, one in five of them died on a construction site. It’s a grim reminder that faulty safety processes can be deadly. Also at stake: your company’s reputation, costly schedule delays, higher insurance rates and expensive litigation. If you’re a superintendent who is spread too thin or a painter who’s rushed and behind schedule, the lines between what is safe and risky can get blurred. What safety experts know for sure is that most, if not all, construction accidents can be prevented. “Every incident, every accident on every project, everyday is entirely avoidable.” You can start looking within your company, regardless of your size, to help you achieve a injury-free jobsite. Here are some proven steps that will help you get there:   Start at the Top The more direct participation from the people at the top, the higher the chances of reducing accidents, studies have shown. The idea behind this approach...