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Category: Project Management

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2021 Construction Payments Report Highlights

To finance slow payments, the estimated overhead included in subcontractors’ bids is 2.75% and 5.81% for general contractors. This year’s report uncovered that slow payments to subcontractors and general contractors will create $136B in additional costs for the US Construction Industry in 2021.

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Slow Payments to Cost the Construction Industry $136B in 2021

General contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $136 billion in excess cost to the industry, a 36 percent increase from the cost reported in 2020. Findings indicate those costs are passed on to real estate developers and financiers in the form of project delays and higher bids from contractors. 

best practices for change orders

9 Best Practices for Managing Change Orders as a Real Estate Developer

When planning the project, you predict uncertainty by including a contingency. The change order is the process of transforming this uncertainty into a certainty.

Rabbet/AvidXchange Announcement

Rabbet Announces Partnership with AvidXchange to Enhance the Invoice Management Process for Real Estate Development Teams

Rabbet, the leading provider of real estate development management software, today announced a partnership with AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market to enhance the invoice management process for real estate development teams.

9 Best Practices for Managing Change Orders as a Real Estate Developer

Project Forecasting

Knowing capital needs on a construction project is critical to ensure proper cash reserves and interest reserves. Rabbet users can forecast what funding sources are going to be drawn during which months on the project then ensure sufficient interest reserves remain available.

The excel paradox

The Excel Paradox

Rabbet’s 2021 State of Construction Finance Report revealed that most lenders and developers are using spreadsheets to carry out major parts of their process, but complain about its inefficiency.

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2021 CONSTRUCTION FINANCE TRENDS

The 2021 State of Construction Finance Report dives deep into how processes and perceptions of construction finance have changed as well as what these processes could look like in the future.

Monthly Schedule Blog Post

Keep Your Project on Track with a Clear Monthly Schedule

Schedules do two things: they create accountability and they ensure your project adheres to the pre-established parameters – namely, timeline and budget. There’s one little problem with this. A schedule... Read More

Rabbet Big Value for Small Project Blog V

Rabbet’s Big Value for Small Projects

Sometimes the smallest savings can yield the biggest results, and our clients have definitely found that to be true of Rabbet. Regardless of your project’s size, Rabbet can make the... Read More

7 Tips for Managing Change Orders

7 Tips for Managing Change Orders

Change orders are often viewed as a necessary evil when it comes to successfully developing a project. That’s because it can be difficult to complete a large-scale construction project without... Read More