In an industry where projects often run over schedule and over budget, change orders, labor shortages and communication gaps can significantly reduce construction firms’ profits.

Delays and budget hikes are often inevitable because of the nature of construction work where change orders are frequent. However, if not managed properly, they can result in a loss of credibility with clients and cut deeply into profit.

Here are four construction project management tips that can ease the burden of inevitable project shifts that lead to hidden losses if not properly managed.

1. Create a Detailed Project Schedule
As projects evolve, superintendents often scramble to get the right skilled-trades workers on site at the right time to move projects forward.

Reprinted courtesy of Joshua Miles, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.