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How to Save Money on Construction Projects Part 4

Contractors are always doing their best to discover new creative ways to save time and money on construction projects. One thing they may not know is that a Chattanooga construction lawyer can help create cost-cutting strategies. Whether it’s assistance with the bid process or negotiating your next contract, a Chattanooga construction lawyer can help your business with a variety of legal services.

In the first, second, and third sections of this six-part article, we provided you with several cost saving solutions you can implement into your construction projects to save money. This includes everything from contracts to a more productive workforce. In this section, we will focus on managing your materials and monitoring your workplace tools.

Material Costs

Many projects fall victim to wasted materials. Poor management of materials is a primary reason projects go over budget. With surging costs of materials, contractors have even more of a reason to focus their coordinating efforts on these purchases. There’s always a balancing act to purchasing materials that can be challenging. You always need enough materials onsite to perform the work; however, you don’t want them going to waste either.

Here are a few tips to reduce material expenses:

  • Manage Materials: During the pre-building phase, coordinate a precise material purchasing plan. When you implement stages of purchasing into your construction process, this can help you control your expenses throughout the project.
  • Save and Keep Track of Materials: Whether it’s precise measuring or keeping a watchful eye, there are many logical ways that contractors can get the maximum value out of their materials.
  • Storage: With approximately 10 percent of purchasing costs typically wasted on a project, you need to develop a system of storing and preserving materials.
  • Befriend Your Supplier: When you create a partnership with a reliable supplier, your loyalty can be rewarded with discounts or forewarnings of an upcoming price surge.

Investing in the Right Tools

Although you can get a great deal on cheaper tools, odds are that your investment will not last. Along with the lack of durability, your workers will perform their best work with the best resources you provide them with. Another thing to consider is that constantly replacing tools can make a workplace less productive as well.

Along with investing in quality, you also need to take excellent care of and monitor your equipment. Ideally, this can help you avoid needing to replace or repair the tools. With a supervision checklist, you can also ensure that your tools are being properly stored, maintained, and avoid any theft or lost tool incidents as well.

For more information on cost-saving strategies in construction, please read sections five and six.

If you would like to speak with a Chattanooga contractor attorney, please contact us today.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.