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Navigating Cost-Plus Contracts: Understanding Profit Pockets and Negotiation Strategies

A cost-plus and a fixed-price contract are two types of construction contracts. Both are used frequently when entering into an agreement to build a structure or system. Each has its own special advantages and disadvantages for both the contractor and the buyer. For the sheet metal or HVAC contractor, the choice depends upon the situation, the needs of the client and the risk inherent in the construction.

This document is free to members in the SMACNA Store.

Proven Practices for Conducting Successful Virtual Meetings

This publication covers the importance of foremen meetings to the success of a project. Meetings not only encourage collaboration by bringing stakeholders together, they help hold all parties accountable for on-time project completion. COVID-19 concerns and related safety protocols have mandated the need for increased virtual meetings, bringing the use of new technologies and communications and tracking tools to the forefront of project management. 

With regular meetings critical in construction, firms will continue to look for ways to limit on-site meetings while ensuring access to information, engaging participants and tracking accountability through virtual meetings and other technologies.

This document is free to members in the SMACNA Store.

Maximizing Contractor Bonding Capacity

This publication helps the contractor better understand the bonding process, the different types of bonds and how to maximize bonding capacity within your company. Contractor bonding is becoming increasingly important. Bonds ensure owners that the contractor can deal with any problems and challenges that may arise. Examples of these challenges include labor shortages, material shortages, material delays or cash flow issues.

This document is free to members in the SMACNA Store.

Integrated Project Delivery Guide

This Guide provides an overview of the Integrated Project Delivery (IPD) method from the perspective of sheet metal, HVAC, and mechanical contractors and can serve as a guide for those interested in expanding their market share into healthcare and other IPD market sectors.

IPD is found at the intersection of quality, cost and scheduling on a construction project where project teams, systems, business structures, and practices are all working collaboratively and tapping into the talents and insights of all team members in an effort to optimize efficiencies and reduce redundancies or waste throughout the construction life cycle (e.g., design, fabrication, installation, etc.).

This document is free to members in the SMACNA Store.

Recruit to Retire Best Practices

Employees are one of a company’s biggest expenses — and also one of its most important assets. Unlike major capital costs (like buildings, machinery, technology, etc.), human capital is volatile. Employees need to understand that a company invests in them with a hiring decision, and that the company wants them to stay until they retire.

In this publication, we explore the influence and impact of the pandemic; generational expectations; the advantages of remote work ; how to lead, communicate and incentivize behavior; the impact of this shift on organizational strategy and culture.

This document is free to members in the SMACNA Store.