With costs for some materials continue to rise, like cement and concrete – up 13.3% and 11.3% respectively, there is no doubt that construction managers are tightening their belts when it comes to job costs. One big cost concern that always causes headaches are project delays. How can you tackle those pesky construction project delays and keep your cool while doing it? Well, guess what? The good news is that you’ve got more control than you might think! Here are some quick tips for tightening up on costs that you CAN control.

Know Your Costs: First things first, let’s talk money! Equip yourself with the knowledge of your true project costs, including equipment values. Why? Because being in the know means you’re ready to pivot when the market throws curveballs. And guess who’s got your back? EquipmentWatch! If you haven’t already, check out our Rental Rate Blue Book for analyzing equipment costs like a pro.

Sell Idle Assets: Got equipment gathering dust? Time for a spring cleaning! Selling idle assets using residual costs as your compass can keep your pockets happy and your insurance premiums in check. Make sure to take advantage of our easy to visualize Residual Values where you can see values projected out to 84 months for FMV and FLV. Trust us; it’s all about optimizing those costs! But wait, there’s more!

Be Price Confident: Are you thinking about buying or selling equipment in this unpredictable market? We get it; the heavy equipment market these last few years has been a game-changer. Whether you’re doing a private deal, hitting up a dealer, or diving into the digital marketplace, you need to know the latest prices. You don’t have time to play detective on every resale site. Rely on our Values Trend Engine to keep you up to date.

Remember, the best offense is a good defense. Prepare for those inevitable slowdowns with these winning strategies. Ready to level up your equipment game? Want objective, accurate, and unbiased market values and residual values for your fleet? Schedule a demo with us at EquipmentWatch today. Stay smart, stay savvy, and keep those projects rolling!

At EquipmentWatch, we analyze equipment values on a regular basis with our monthly Market Reports. More in-depth reports such as The State of the Construction Equipment Economy aim to arm you with the insights you need to make quality, informed decisions about how to manage your heavy equipment. EquipmentWatch can help you with the data you need now to set accurate rates, value your fleet, make disposition decisions, and understand when to rent equipment. We are also ready to be your principal data provider for any AI-focused projects you take on in the future. For more information on the data solutions offered by EquipmentWatch call us at (888) 307-1713.