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Decoding Contracts for AEC Professionals
AEC firms have their own industry-specific language when it comes to contracts. We’ve devised a list of some general and specific contract terms and defined them here.
Read MoreLearn the Essentials of Project Pursuit
AEC firms are nothing without projects, the bread and butter of the business. Firms must consistently seek new sources of income; otherwise, once a project has been delivered, there’s no more revenue for the business. But where do projects come from, and how do firms get them? Projects come from leads — potential or existing…
Read MoreAEC Project Accounting 101: Terms & Definitions
Accurate financial accounting is imperative for the long-term success of any company, and the nature of the architecture, engineering and environmental consultancy (AEC) industry makes it a particularly complicated undertaking. Therefore, AEC firms usually designate specific roles in their organizations to address the added complexities associated with internal and external financial reporting. Since AEC is…
Read MoreThe ABCs of Accounting in the AEC Industry
Accounting plays a crucial role in the success of every architecture, engineering and environmental consulting (AEC) firm. The foundation of an effective and robust accounting process facilitates financial management, project control, compliance, risk mitigation, and strategic decision making. It ensures that the AEC firm operates profitably, maintains financial integrity and sustains growth in a dynamic…
Read More11 Essential Earned Value Management Concepts You Should Know
Project management style has a direct effect on project profitability. Earned value management (EVM) is a powerful project planning and management tool government agencies and many AEC firms use to integrate a project’s cost with the scope of work, project schedule and various performance elements. Using this approach makes project planning and resourcing more precise,…
Read MoreBST Global CEO Leads the AI Charge During the ACEC Research Institute’s Roundtable
BST Global CEO Javier A. Baldor participated in ACEC Research Institute’s roundtable, “Lump Sum Contracting: Current Practices, Opportunities and Challenges.” This thought-provoking roundtable focused on the potential opportunities and challenges of lump sum structures for engineering and design services in the transportation sector. The participating panelists included: During the session, Javier gave his unique perspective…
Read MoreACEC Research Institute Publishes Lump Sum Contracting Report With Foreword by BST Global CEO
The ACEC Research Institute invited BST Global Chief Executive Officer Javier A. Baldor to provide a foreword for its report on the use and benefits of lump sum contracting in the engineering industry. Based on original data collected from state and federal client organization representatives and senior leaders from engineering firms of various sizes, the…
Read MoreBST Global CEO Gives AI Update on ACEC’s Engineering Influence Podcast
During ACEC’s 2024 Annual Convention & Legislative Summit in Washington, D.C., BST Global CEO Javier A. Baldor presented a breakout session titled “The AI Imperative: A Trailblazer’s Perspective” to a packed room. The next day, he gave a second well-received presentation called, “How AI + Big Data Will Transform the AEC Industry.” During the conference,…
Read MorePowerUp 2024 Users Conference
BST Global hosted clients in Clearwater Beach, FL, for an in-person users conference May 20–23, 2024. PowerUp 2024 took place at the Sandpearl Resort and was attended by more than 200 BST Global experts, clients and product users from around the world. The conference kicked off on Monday evening with a welcome reception by the gulf, where…
Read MoreBST Global Earns Acquisition International Magazine’s Global Excellence Award
Acquisition International, a monthly digital business magazine, recently announced the winners for its 2024 Business Excellence Awards, naming BST Global as the year’s best AI-backed AEC project intelligence company. Nominees for the Business Excellence Awards include everything from family-run firms to large conglomerates, and are evaluated on criteria around client dedication, innovation, growth, reputation, business performance…
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