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CONSTRUCTION
Retainage, also called "retention" is an amount of money "held back" from a contractor or subcontractor during the term of a construction project. This is a very unique practice specific to the construction industry, but within the industry, it's extremely popular. Most construction contracts mandate that a certain percentage of the contract price (frequently 5% or 10%) is withheld from the contractor until the entire project is substantially completed. This creates cash flow challenges in an already cash-poor industry, the practice is too frequently abused, and of course, it’s subject to complicated regulations that make it tricky to execute. In this guide, you’ll learn everything you need to know about this practice, including why it exists, how it works on different types of projects and in different states.
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PROJECT MANAGER
Project managers are responsible for the planning and delivery of complete construction projects, from the first drawings to the final sign-off. They have to be excellent planners, communicators, time managers and problem solvers. Employers often look to recruit graduates into project management because it is one of the most demanding roles in construction.
What is a graduate project manager?
A graduate project manager is someone who has just graduated from university and has secured a junior job in project management in construction, or on a graduate trainee programme in project management. They will be learning the role from more senior project managers, intending to take on more responsibility and perhaps specialising in a particular aspect of project management in the future.
BULIDING
Want a career that makes a difference? That can change lives and transform communities? That can improve the environment for generations to come?
Few industries have as a deep and lasting impact on our everyday lives as construction.
Think about it. The built environment around us has a profound effect on how we act and interact with each other. Whether it’s houses, schools, colleges, shops, offices – how, where and why they are built are hugely influential on how we feel and behave.
Managers and supervisors ensure buildings and workers are safe and healthy, workforces are diverse and inclusive, and materials are sustainably sourced. Builders, fitters, joiners and other professionals make good designs a reality, expertly built for positive outcomes.
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Real Estate
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ARCHITECTURE
What qualifications do you need to become an architect, one of the most competitive and sought-after job roles in construction? Find out the routes into a career in architecture, from degrees to apprenticeships, as well as how to train as an architect, how long it takes and the skills you need.
What do you need to qualify for architecture?
There are several routes to becoming an architect, including degrees, apprenticeships and through work experience.
However, there are two essential qualifications to become an architect: an architecture degree recognised by the Architects Registration Board (ARB) and two years of professional architecture experience.
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LANDS
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