Manage Costs/Maintain Profits

In the challenging world of construction management, managing costs and maintaining profitability are critical challenges for general contractors. One significant factor that affects the bottom line is the accurate tracking of labor hours, particularly when dealing with both in-house employees and hourly subcontractors on "cost plus" contracts.

Accurate labor tracking is essential for ensuring precise data collection, improving cost estimates, and ultimately enhancing competitive edge and profitability. Utilizing advanced tools like mJobTime’s construction job tracking software for construction job tracking, can streamline this process. It’s important to provide contractors with the means to efficiently manage labor costs and optimize project outcomes.

By utilizing advanced construction time trackers, contractors can ensure precise data collection, improve cost estimates, and ultimately enhance their competitive edge and profitability in the construction industry.

Workers in the Construction Industry

General contractors have their own employees to accomplish all the work on the project that won’t be performed by subcontractors. In addition to these employees, there are other subcontractors who are working on “cost plus” contracts and are being paid by the hour. The most obvious employee is the supervisor at the site. Next would be his staff of foremen and the cleaning crew. Often, the GC will have their own framing crews and other sectors. Typical “cost plus” workers might include erosion control repair, scaffolding setup, maintenance, and removal, and sections of the work that do not lend themselves to a fixed-price subcontract.

The Risks of Variable Costs

The variable costs mentioned above put the profit for construction projects in jeopardy. This is because the contract has to be a lump sum, which includes a professional estimate of the hours for all these hourly employees. If too many hours are added to the estimate, the overall bid amount will be too high to be competitive. Estimating too low can lead to a loss on the work, and can end up costing the general contractor or the construction company tens of thousands of dollars!

For these reasons, construction job tracking software is crucial!

Construction Job Tracking Software to the Rescue!

mJobTime’s construction job tracking software can be readily applied right at the point of the work. This is essential, because it won’t help to have the supervisor attempt to guess the hours applied to various tasks at the end of a one-week payroll period. The real way to get the best data is to use accurate construction time-keeping software. mJobTime’s construction job tracking software is highly accurate and cutting-edge! It is a tool that is actually used on the job - not just put on the shelf in the supervisor’s trailer.

Benefits of Construction Job Tracking Software

Time tracking software for construction is a huge help for reviewing invoices from hourly subcontractors. The hourly bill can be compared to the mJobTime data to ensure that the billing does not overcount the work performed at the job.

After-job completion review via construction time-keeping software can save contractors thousands of dollars on each upcoming project. Sections of the estimate where labor hours are over the actual hours needed, can be carefully trimmed for the next estimate. This use of construction job tracking software generates the actual hours to apply to the next estimate instead of relying on a professional guess at how long the tasks might take for the new estimate.

Construction job tracking software really comes into its own after a few jobs are completed, and the estimate can be compared with the actual hours expended on jobs. This is the way to make sure the upcoming bids do not need to include “allowances” to cover approximations and guesses for in-house labor.

mJobTime’s Software is Accurate & Job-Site Ready!

Most construction tracking software systems end up sitting on the shelf or employed on the project manager’s desk, but the real value is software like mJobTime’s construction job tracking software, which is used right at the job site on cell phones and tablets as tasks are performed. Data is collected numerous times during the day by each of the staff members. This makes for a more realistic bottom-up view of tasks, rather than approximations by the managers from the top down.

Accurate construction job tracking software such as mJobTime’s is crucial for accurately monitoring labor hours and controlling costs. General contractors and construction companies can make informed decisions, enhance efficiency, and improve profitability by taking advantage of this amazing software! Adopting advanced time-keeping solutions ensures that project estimates are based on precise data, leading to more competitive bids and successful project outcomes.

For more great information, visit:  www.mJobTime.com   And then request a demo!