Best Practices Construction Law

NOVEMBER 26, 2012

Who couldn't use more cash during the holiday season? No matter the season, however, construction companies rely heavily on cash flow to fund their operations. Cash flow depends on so many variables, but there are a few that you can control. Project Management Tips. Written Contract.

Cash Flow 48

Cash Flow Project Management Change Orders Agreement 48

Viewpoint Construction Technology

FEBRUARY 12, 2019

The main reason construction businesses implement an integrated project management system is for the visibility that they can gain over every aspect of a project. Here’s a list of key reports that you should be able to pull at any moment from your construction project management software: Basic Accounting Reports.

Cash Flow 130

Cash Flow Software Software Accounting 130

Contractor Bookkeeping

MAY 5, 2014

In the meantime, service agreement customers are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary. The price of a service agreement must pay for the corresponding maintenance and whatever is left after the cost of material, labor and other costs is gross profit.

Cash Flow 48

Cash Flow Agreement Profitability Contractors 48

Lets Build

AUGUST 4, 2023

During any project, the execution stage is usually the most important — it determines the trajectory and timelines of the entire project. Getting your project off on the right foot can minimize bottlenecks and breakdowns down the road and ensure successful deliverables. This can boost productivity and secure your data.

Software 78

Software Software Construction Budgeting 78

Lets Build

AUGUST 4, 2023

During any project, the execution stage is usually the most important — it determines the trajectory and timelines of the entire project. Getting your project off on the right foot can minimize bottlenecks and breakdowns down the road and ensure successful deliverables. This can boost productivity and secure your data.

Software 78

Software Software Construction Budgeting 78

Fieldwire

AUGUST 14, 2023

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. Retainage can cause a cash flow burden for contractors, especially subs at the bottom of the payment chain.

Contractors 98

Contractors Cash Flow Lien Negotiation 98

Job Order Contracting

DECEMBER 13, 2020

First and foremost is important to understand that all projects are exercises in managing change. The fact that variation is going to occur (relative to planned activities and outcomes) during the project is a given. Traditional construction project delivery is antiquated, outdated, antagonistic, and prone to failure.

Project Management 161

Project Management Capterra Organization Management 161

Construction Business Owner

MARCH 1, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. Data Security in the Cloud » Collaborating on Cash flow. Bad or outdated information is probably one of the biggest reasons cash flow issues occur. Technology for Collaboration & Cash Flow.

Cash Flow 120

Cash Flow Construction Software Software 120

PSMJ Resources

MARCH 26, 2012

Effective Project Managers Need Authority. Clients want strong project leaders rather than mere project “administrators” who’ll simply manage things and move them around. The PM must understand finance and serve as the last bastion of the firm’s cash flow picture.

Project Management 43

Project Management Resource Management Cash Flow 43

Construction Business Owner

OCTOBER 26, 2011

MANAGEMENT |. General Management. People Management. Equipment Management. Whenever we talk to companies who are looking to purchase new construction management software, we always ask why they are looking to switch. Back to Cash Flow. STRATEGY |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |.

Cash Flow 120

Cash Flow Construction Software Software 120

Pro Builder

APRIL 19, 2021

The construction industry has gone through an extensive transformation, and technology has completely changed the concept of how to drive more quality, productivity, and profit into projects. Construction management software is designed to serve different trade contractors including mechanical contractor services.

Software 52

Software Software Contractors Change Orders 52

Autodesk Construction Cloud

DECEMBER 12, 2021

Below, let’s discuss the importance of construction KPIs and critical metrics your company should be measuring to affect profits and productivity. Construction teams need to track more than financials to determine a project’s success. The Essential Construction KPIs Your Projects Need. Key Takeaways. Measure Now. Turnover rate.

Profitability 52

Profitability Products CFMA Construction 52

Viewpoint Construction Technology

FEBRUARY 7, 2019

Considering contractors face ongoing high pressure to perform and operate with razor-thin profit margins, there’s no doubt: construction is a challenging industry. Patti Smith, Business Process Manager, Ideal Contracting.

Contractors 161

Contractors Cash Flow Construction Management 161

Contractor Bookkeeping

SEPTEMBER 12, 2014

Cost Is What You See - Profit potential is what you don''t see. High profit construction company owner''s focus on both and understand it "Takes Money To Make Money". Highly Profitable Companies - Focus on how high is up? This one thing can have a massive impact on cash flow and profits. Need Help Now?

Profitability 48

Profitability Accounting Construction Project Management 48

Viewpoint Construction Technology

OCTOBER 23, 2018

Construction sites these days have no shortage of data: design and BIM data from the planning stages of a project, jobsite data collected by wearables, mobile devices and sensors on equipment/materials, accounting and job progress data from the office, project management data and much more. Diving Deeper into Construction Data.

Construction 225

Construction Software Software Cash Flow 225

Construction Business Owner

APRIL 1, 2011

MANAGEMENT |. General Management. People Management. Equipment Management. Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate.

Cash Flow 120

Cash Flow Construction Software Software 120

Autodesk Construction Cloud

JANUARY 19, 2022

Cash flow can make or break any business, especially in the construction industry. To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations. Properly manage change orders.

Cash Flow 59

Cash Flow Management Profitability Change Orders 59

Construction Business Owner

NOVEMBER 3, 2011

MANAGEMENT |. General Management. People Management. Equipment Management. For example, you might require project management, but if you do a quick search, you’ll find there are numerous project management solutions that range from simple to complex. Job Cost & Cash Flow.

Cash Flow 120

Cash Flow Construction Software Software 120

Contractor Bookkeeping

AUGUST 11, 2014

The banker said his Profit & Loss, Balance Sheet did not look right to him. His banker was a blunt and told him that if he wanted to stay in the construction business he needed to have accurate Profit & Loss, Balance Sheet and Job Costing Reports. QuickBooks Job Profitability Reports. He had to rely on his gut feeling.

Profitability 48

Profitability Contractors Accounting Income 48

Contractor Bookkeeping

AUGUST 30, 2013

We Serve Several Highly P rofitable Construction Companies and some not as profitable ones. The differences in operations between the two groups are very small and yet the profit picture is massively different. Supply Chain Management Costs. Change Order Management. Job Material Inventory Costs. Percentage Of Completion.

Profitability 48

Profitability Contractors Accounting Cash Flow 48

Contractor Bookkeeping

AUGUST 4, 2014

Ever Wonder Why Some Competitors Seem To Have More Cash Flow And Profit Than You? Earning enormous amounts of cash and profits in any business is simple, not easy, but simple if you know what to do. Joe The Plumber''s Story: I met a plumbing contractor in the mid 1970''s who was very profitable.

Profitability 49

Profitability Contractors Accounting Documentation 49

Contractor Bookkeeping

FEBRUARY 28, 2014

Cash flow issues kill contractors even though they have profit. Poor document management results in overpaying taxes. Poor document management results in overpaying taxes. Poor scheduling affects production and cash flow. Management skills are learned in the school of hard knocks.

Profitability 48

Profitability Contractors Cash Flow Accounting 48

ProcurementExpress.com

JULY 15, 2019

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Speed Up Receivables. Use Financing to Provide a Cushion.

Cash Flow 68

Cash Flow Contractors Budgeting Budget 68

Construction Business Owner

APRIL 26, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” STRATEGY |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |.

Change Orders 120

Change Orders Construction Profitability Software 120

Construction Business Owner

AUGUST 18, 2011

MANAGEMENT |. General Management. People Management. Equipment Management. Other common reports bonding agents will look at include income statements, balance sheets, statements of cash flow, and job specific invoice aging reports. Committing Intentional Project Communications. document management.

Cash Flow 168

Cash Flow Software Software Accounting 168

ProcurementExpress.com

JULY 15, 2019

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Speed Up Receivables. Use Financing to Provide a Cushion.

Cash Flow 52

Cash Flow Contractors Budgeting Budget 52

Construction Business Owner

MARCH 1, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. Collaborating on Cash flow » The Year of Mobile Technology? increased efficiency and better time management. Committing Intentional Project Communications. Better Project Management through Better Communication.

Mobility 120

Mobility Cash Flow Construction Software 120

Construction Business Owner

SEPTEMBER 27, 2011

MANAGEMENT |. General Management. People Management. Equipment Management. If a business is unprofitable in 2011, and has no taxable income to use the deduction, that business can elect to use 100% Bonus Depreciation and carry-forward to a year when the business is profitable. construction management.

Construction 180

Construction Software Software Accounting 180

Construction Business Owner

JANUARY 18, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. Querying different type of jobs in job costing to look at profitability by type. Committing Intentional Project Communications. Better Project Management through Better Communication. construction management.

Construction 168

Construction Software Software Accounting 168

Contractor Bookkeeping

SEPTEMBER 20, 2013

Wealthy contractors have a secret system that shows them what to do, when to do it, how much it will cost, how long it will take to be paid back, the Return on Investment and they use the new cash flow and profits to do it over and over and get richer and richer! Watch The Video Below And If You Are A Contractor.

Profitability 50

Profitability Contractors Accounting Montana 50

Contractor Bookkeeping

OCTOBER 4, 2013

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. Construction Project Manager PMP.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Construction Business Owner

FEBRUARY 16, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. When you approach your chosen lender(s), be open about your financial situation, including any typically slow work and cash-flow periods. Banks are attracted to profitable business. construction management. Management.

Banking 120

Banking Construction Cash Flow Finance 120

Construction Business Owner

DECEMBER 20, 2011

MANAGEMENT |. General Management. People Management. Equipment Management. New Year’s Resolutions for Construction Management » Merry Christmas! Committing Intentional Project Communications. Better Project Management through Better Communication. construction management.

Software 120

Software Software Construction Accounting 120

Contractor Bookkeeping

OCTOBER 1, 2013

Wealthy contractors have a secret system that shows them what to do, when to do it, how much it will cost, how long it will take to be paid back, the Return on Investment and they use the new cash flow and profits to do it over and over and get richer and richer! Watch The Video Below And If You Are A Contractor.

Profitability 49

Profitability Contractors Accounting Montana 49

Construction Business Owner

MAY 24, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. Free Webinar: Managing Information Overload » Silos: Great for Grain, Not so Great for Business. One of our clients does industrial electrical work on projects around the country. STRATEGY |. ACCOUNTING |. SOFTWARE |.

Construction 120

Construction Software Software Iowa 120

Construction Business Owner

JUNE 29, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Hopefully, you’ve had the chance to consider how deliberate your project communications are. STRATEGY |.

Construction 127

Construction Documentation Software Software 127

Construction Business Owner

JANUARY 31, 2012

MANAGEMENT |. General Management. People Management. Equipment Management. Committing Intentional Project Communications. Better Project Management through Better Communication. construction management. construction management software. document management. document management.

Construction 185

Construction Software Software Accounting 185