Overview
BuiltWorlds' Benchmarking Program is a premier industry tool, purpose-built to help built world innovators learn, measure, and make decisions related to technology solutions, research & development, and innovation strategies across more than 32 technology areas.
The Annual Preconstruction Benchmarking Report delves into six essential areas of the preconstruction phase, each playing a pivotal role in ensuring project success. Bid management facilitates the selection of competitive contractors, while prequalification rigorously evaluates subcontractors and suppliers based on their financial stability, expertise, and safety compliance. Accurate estimating is crucial for determining project costs, thereby informing budgeting and feasibility assessments. Scheduling develops a comprehensive project timeline, optimizing task coordination to enhance workflow and resource allocation. Effective contract management establishes clear legal and financial terms, reducing risks and ensuring adherence to regulations. Finally, procurement focuses on the efficient acquisition of materials, equipment, and labor, striking a balance between cost,…