What Is An Allowance In A Construction Contract?

What is an allowance in a construction contract? If you've noticed something like this before but don't really know what this means, then keep watching this video! I'll explain what allowances are, why these are sometimes included in construction contracts, and when it might not even be necessary at all! 💡 LEARN MORE: https://constructionmanagementonline....

Key Moments In This Episode
========================
00:00 Intro & Summary
00:31 What Is An Allowance In A Construction Contract?
01:26 Different Types Of Allowances In Construction
02:46 Importance Of Being Prepared To Adjust The Allowances
03:59 How To Allot Allowances In A Construction Project
04:49 Why Allowances Aren't Always Put In Construction Contracts
05:15 Benefits Of Putting Allowance In A Construction Contract
06:41 How To Calculate An Allowance For A Construction Project
08:01 When An Allowance Might Not Be Necessary
08:45 Learn More About Construction Management

What To Watch Next
========================
What Is Retainage In A Construction Contract?
   • What Is Retainage In A Construction C...  

Resources
========================
Join our Free 5-Day Construction Management Workshop here:
https://challenge.constructionmanagem...

Take your career to the next level!
Sign up for our Construction Management Essentials course:
https://cme.constructionmanagementonl...

Subscribe to my YouTube channel:
   / @cmonline.  

Learn More About Cory Fisk
========================
Meet the program founder of Construction Management Online: Cory Fisk! Cory has been involved in almost every aspect of the construction industry— from working as a Field Engineer all the way to becoming Facility Director Executive, even becoming a private consultant and college professor for over 18 years. With her vast amount of experience and industry knowledge, she designed the curriculum for her game-changing programs: Construction Management Online and Construction Management Essentials. Through education and mentorship, Cory aims to bridge the gap between the classroom and the workplace, helping students transition more easily on project sites and helping experienced workers gain the credentials that can advance their careers.

========================
Video by Nate Woodbury
BeTheHeroStudios.com
   / natewoodbury  

#construction
#constructionmanagement