Really interesting, love the video Although not sure I agree that when contracts get smaller they get more risky IMO the bigger contracts contain way more risk. For example, a $500k concrete sub-contract contains a lot less risk than a $150m solar EPC I would say the challenge is when you get bigger, and chase bigger jobs, companies dont have the systems and processes to manage riskier contracts

Great insight!

Maybe pay people and teach young people might help

Thanks

I don’t know why this is the case. Maybe it’s because the big building companies are no longer part of the local landscape. My brother left school in 1963 at the age of 15 without qualifications. Our grandmother suggested he should get an apprenticeship, in the meantime he worked as an assistant at a builders merchant. We had 3 main building companies in the town and the owner of one remarked one day that he could do with a hardworking lad like him. My brother said, “I want an apprenticeship!” The owner said he would think about it (probably as a throwaway remark). Every time , the builder came into the shop, my brother said, “have you thought yet?” Consequently, he was offered an apprenticeship as a bricklayer. It’s those kind of community connections which have been lost.

I have Irish ancestry, and they were legally here, they didn't jump over the Atlantic Ocean to get here. The "Illegals that are coming here are depressing wages for the legal emigrants and the native born. The wages have stagnated for nearly 30 years. I am in the constitution industry, have been for my entire adult life, and I was making the same per hour in the 90's and usually more than they are paying now, but look how much more things cost now. Why is rent and homes just a couple of things so expensive? Could it be because more people need them? So who benefits from open borders? Think about it!

Before convid 32$ now 52$ an hour and im dumb as a box of rocks 😂

Someone invent construction robots already. Clearly no one wants do these shite, hard labor jobs

Did his new book come out ?

God forbid your margins aren’t as fat because you have to pay the people doing the actual work a fair wage. I’m sure you won’t be passing on that loss to the consumer instead of accepting that fair compensation is an inflexible cost for your business given the danger and skill required and accepting a smaller slice of the profits.

Lying again

Construction is a catch 22 business

Yes I have been during handshake deal with my top clients but we know is too risky now

Good insight--thank you!

Excellent information

What type of math is involved with being a CA?

Housing solution contractor doesn't do the job properly What can I do

It is Munger's fund that invests in Costco :)

every few months i see these types of videos: camera pointed at face and upper torso of a man, dives straight into a topic usually pretty niche topic. one time it was like a lawyer, a casino guy, like a former fbi agent??, now this. its so odd fr..

Call me crazy, but shouldn't you be able to be defect-free on a new solar installation for well beyond three years? Sounds like shoddy work.

Good topic

🥔🔪🫳⤵️

Good content, keep at it mate

No idea

In Toronto, Canada we get boondoggle after boondoggle. Union station, and now the Crosstown project. Way over budgets, and timelines. Metrolinx the government overseer sucks.

Could you elaborate on how as an employee/engineer i can get more project/clients for my company ie bring more money and save their time to ensure a fruitful outcome for my own career growth at faster pace.. which books would help in this scenario and implementing the change in workplace environment effectively on individual level..

What if a change order potentially induces bigger losses and damages? Since there usually isn't a separate contract for a change order, should the main contract state that any change order shall have a limited liability of 100% of the change order itself instead of the full contract?

Cian what are some top ways to 3x or 5x our salary after joining the company ? In small or big companies how it works as some top players of the team star individuals say it's possible so what's their secret or methods to reach that goal..apart from being good at our craft which skills and traits are needed ..

Standerd means normal. What is regular.

Advice: Keep a good lawyer with u all steps of way.

sup my

Professional Grant Mills

TLDR: Effective contract management in construction is essential for securing financial stability, gaining respect, and building a reliable and excellent reputation in the industry. 00:00 💡 Effective contract management in construction can transform business relationships and secure financial future by positioning you as a key player in negotiations. 00:54 💡 Swift contract modifications and clear communication can significantly reduce payment time, leading to improved cash flow and better client treatment. 01:16 🏗 Contract management in construction is crucial for gaining respect, better projects, repeat business, and recommendations, ultimately leading to thriving and building a reliable and excellent reputation in the industry. 02:10 💡 Be proactive with contracts to avoid being pushed into unfavorable terms and risking severe cash flow issues in construction. 02:59 💡 Review every clause, ask for adjustments, negotiate upfront, and prioritize professional respect to safeguard your business and ensure prompt payments. 03:53 💡 Negotiate and communicate clearly in contract management to protect and benefit your project, elevate your professional standing, and build strong, trustworthy relationships. 04:49 📝 Mastering contract management in construction leads to better cash flow, margins, reputation, and more work through trust, respect, and understanding every aspect of contracts. 05:35 🏗 Take control of your contracts, negotiate terms upfront, and become a reliable and trusted partner to secure big construction projects and build a profitable future.

Ohhhhhhh

New Sub. You've got our attention

What happens if the Head Contractor is also affected by a delay from the client project manager and client? Subcontractors are affected by this delay as well. If there is an instance where the subcontractors procurement delay led to Liquidated Damages? But their still insisting to be paid the full amount of their subcontract. How do we navigate this?

Great info. I work in sales in the construction market (as a sub-contractor with different types of materials or solutions), but I do not have education in construction. So, it is always a pain in the ass to negotiate the contract. If you need to advise someone on where to start educating to becouma a master negotiator as a KENTZ. What would you suggest?

Funny thing, my job is to prevent exactly what you’re promoting in this video. It’s true that delays and extra (unforeseen) things can come up, which of course should be reimbursed to the contractor, but I’m pretty sure that’s not what you’re talking about!😂Nonetheless, interesting to see how you go about it, would love to have a chat on it

Goal! Reality! Options!! (3) Way forward! 🔥🔥

Thanks great info

Learned a lot here. Thanks Cian!

Awesome content

Because someone kept the money in the business.

Great clause

Great video. Since contracting is so cost competitive/race to the bottom, being able to take a couple of percent off your estimates by eliminating corporate overheads makes a big difference winning new work

Thanks for the video💎💎💎

Perfect

I agree. From my 30 years of research, all consecutive govt's' policies are to blame for the atrocious situation that is destroying our country. They do not listen to experienced practical businesspeople.

Not bad.

Hello can i know what the relation or deffierance between inspector and contract admin