How to reduce the construction cost

How to reduce the construction cost.
Construction Industry is an industry like the other field of business. It is all about trading for what each and every one wanted for. The client will want to have a product that is value for money and the consultant always wanted to be part of the business with a reasonable price for their render service. The builder which known as contractor which will offer how much they need to be pay for realising the quality product.
The first stage that the contractor needs to do is win this competition. Next is start building the product with the agree contract sum between the client and them. When start building the product the contractor will have to find a way on how they can maximize their profit. The term is to do some cost saving in their activity in order to increase their profit margin from what have been included in their original contract sum.
There is a numbers of process or technique that contractor need to applied if they wanted to increase their profit margin. The answer is cost reduction for the construction. How can this being done. Here are some techniques that can be use.

1. Shopping for the cheapest and quality material available in the market.
2. Mitigate the risk of increase in construction work by sublet certain portion of work especially labour. ( Lump sum cost for certain work which the increase of labour cost will be absorb by the subcontractor)
3. Method of construction ( eg. By machine or man power)
4. Building component (temporary or permanent work). Eg. Recyclable falsework & formwork, Factory fabricated building component such as floor slab.
5. Plan for the project and adhere strictly to the programme.
6. Complete the project at the shortest time frame which will save more in the plant, equipment & manpower cost.

Acquire own machinery, plant & equipment instead of renting. For the long run this strategy will significantly reduce the contractor construction cost. However beware of the maintenance cost.