Client Expectations
This term refers to the beliefs or anticipations clients have about the outcomes, timelines, costs, and quality of construction projects.
What our client expectations?
This term describes the situation where there are not enough skilled workers to meet the demand in the construction industry.
What is a labor shortage?
This term describes the inability to obtain materials on time, often causing project delays.
What is a supply chain disruption?
This term refers to the process of ensuring that construction projects meet specified standards and requirements.
What is quality control?
This term describes the process of planning, organizing, controlling and monitoring financial resources.
What is financial management
Meeting or exceeding client expectations is crucial for achieving this, which leads to repeat business and referrals.
What is client satisfaction?
Labor shortages are often caused by this demographic trend as older workers retire and fewer young workers enter the industry.
What is an aging workforce?
A significant impact of supply chain disruptions is an increase in this, affecting project budgets.
What are material costs?
These periodic evaluations are conducted to ensure that work meets the required quality standards.
What are inspections?
This document outlines the estimated cost and revenues for a construction project.
What is a budget?
Successfully managing client expectations can enhance this aspect of a company's public perception.
What is reputation?
This term refers to the lack of individuals trained in specific trades such as carpentry, plumbing and electrical work.
What is a skilled labor gap?
This term describes a situation where construction work stops due to lack of necessary materials.
What is a work stoppage?
This consequence of poor quality control can significantly increase project cost due to rework and repairs.
What are cost overruns?
This term describes the funds required to start and complete a construction project.
What is project financing?
Clients expect this aspect of a project to remain within the agreed parameters, avoiding unexpected increases.
What is adherence to the budget?
Labor shortages can lead to this consequence where projects take longer to complete.
What are project delays?
Supply chain disruptions can lead to this type of scheduling problem, where project timelines are extended.
What are project delays?
A lack of quality control can result in this, potentially causing harm to workers or future occupants.
What our safety hazards?
These entities provide funding for construction projects in exchange for future repayment with interest.
Who are lenders or financial institutions?
Misaligned expectations can lead to these causing delays and increased costs.
What are disputes or conflicts?
A significant impact of labor shortages is an increase in this, affecting overall project budgets.
What are labor costs?
When supply chains are disrupted, companies may face this type of reputation damage due to missed deadlines.
What is client dissatisfaction?
Poor quality control can lead to this, where the completed project does not meet client expectations or standards.
What is a quality failure?
This type of insurance protects against losses from project delays, damage or other unforeseen events.
What is construction insurance?