Find descriptions, templates, and examples of common construction terms and tools such as punch lists, RFIs, and more.
What is Retainage in Construction? In construction projects, retainage refers to the portion of payments that project owners or general contractors withhold from contractors or subcontractors. This practice ensures contractors meet contractual obligations and complete the project to agreed-upon standards.…
What are Cost Codes in Construction? Cost codes in construction are structured numerical or alphanumeric identifiers used to categorize and allocate project expenses. They help contractors track costs for different aspects of a project, such as electrical, earthwork, and plumbing,…
Job costing is an accounting method that enables contractors and construction companies to track, budget, and manage the costs associated with individual projects. Unlike traditional accounting, which focuses on overall business financials, job costing assigns expenses and revenue to specific…
What Is a Change Order? In construction, a change order is an amendment to an existing construction contract that modifies the original terms of the agreement. A change order is necessary when contractors, owners, or the design team propose changes…
What Is a Submittal? In construction, submittals are documents, information, or samples that address outstanding questions and plan details for a construction project. Subcontractors typically send submittals to a general contractor and the primary stakeholders to expand upon the initial…
What Is Preconstruction? Preconstruction is the term used to describe the process leading up to work on any construction job. In this initial planning phase, stakeholders set expectations, scope out the work, and plan a schedule for the project from…
A punch list, sometimes called a snag list, is a document created in the final stages of a construction project to provide a list of items that must be addressed before construction is complete and payment is issued. The owner,…
What is an RFI? In construction, RFI is an abbreviation for Request for Information. It refers to a solicitation of details or additional information about an aspect of the project that needs clarification. RFIs may be sent to or from…
What is a General Contractor? A general contractor, or GC, in a construction project, is the party responsible for scheduling and overseeing the day-to-day activities of a construction project. General contractors are hired to manage the project from groundbreak to…