Construction doesn’t fail because of the big stuff. It fails quietly, through missed labor hours, mispriced trailers, and forgotten line items you thought someone else was covering. These are your general conditions in construction, and they’re more than just indirect costs. They often decide whether your
A schedule of values (SOV) is one of the most important documents in a construction project and often one of the most misunderstood.
At its core, SOV is a detailed breakdown of the entire contract amount, divided by work items or cost codes. Most successful contractors, from GCs to subs,
Let’s make something very clear — timekeeping isn’t a trust issue, and it’s not about nickel-and-diming your workforce.
Labor accounts for 30% or more of a contractor’s costs. It’s the most expensive and complicated asset in your business. Every other asset —
When the scope changes daily and work is moving fast, pricing becomes a moving target. Lump-sum contractors don’t always cut it, especially on long-term maintenance projects.
That’s where an SOR (schedule of rates) comes in.
With SOR, every task has a set price. Zero needs to re-negotiate or issue a
T&M contracts combined with an SOW give contractors the flexibility to start fast, especially on jobs where the scope isn’t fully defined.
But that flexibility can backfire fast without tight documentation.
One missed hour, one unapproved change, and your profit disappears.
According to a study by PlanGrid and FMI:
“Poor
Creating a detailed and accurate Scope of Work (SOW) is one of the most important steps in any construction project. It defines exactly what needs to be done, how it should be done, and who is responsible for each part of the job.
A well-defined Statement of Work (SOW) is
Contractors lose money fast when projects slip out of control. One surprise, one delay, and your profits go away. It’s a well-known fact. Cost control is one of the biggest issues in construction projects. In fact, a McKinsey study shows that large projects typically take around 20% longer to finish
Cash flow problems don’t start in accounting. They start on the jobsite.
It could be one missed milestone, one vague payment term, and the whole project stalls.
A well-structured contractor payment schedule prevents that, and keeps the money moving.
It spells out:
Still using paper timesheets? You could be wide open to missed hours, buddy punching, and payroll headaches. Manual tracking leaves too much room for error, and every mistake chips away at your margins. If you’re trying to reduce timesheet errors, paper isn’t going to help. It slows down
For field managers/contractors who relied on NoteVault’s daily reporting tools to manage field updates and logs, there’s a major shift ahead.
Bentley is retiring NoteVault’s core features, including Notes, Crew, and Daily Log, starting September 1, 2025.
Those tools will only be accessible through Synchro Field, a broader Bentley system
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