Construction projects require an immense amount of coordination. There’s financing, acquiring materials, finalizing plans, planning a schedule, finding skilled laborers to do the work and managing the work team. To better organize everything that needs to happen to construct a building that is safe and that meets budget and timeline expectations, a number of different reports can be helpful.
Reports on Trends
One type of report commonly used in the construction industry is a trend report. This report details how much of a certain type of construction has occurred recently, whether the demand is increasing or decreasing and what types of details are gaining or losing importance. For example, in the college construction industry, reports are available on what types of college housing are most in demand and what amenities college students want to see included. These types of reports are available one year to the next, so construction companies can get a clear feel for how a specific market changes.
Construction companies use cost reports in the bid phase for almost every construction project. A construction company puts together an estimate of costs that accounts for materials and labor. The cost report may be based on an established design provided by the project owner via an architect or the project owner may ask for a cost report that includes architectural designs. In that case, the construction company would team up with an architectural firm in creating a cost report.
With advancements in technology come new materials that contractors can use in construction. To take full advantage of materials that may perform better, offer a cost savings or have a longer useful life, construction companies have to make a point to stay informed about what is available. To do this, contractors may subscribe to or purchase market reports that provide information about new materials, how they can be used in construction and what potential advantages they may provide.