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How to Keep Your Profit Wheel Spinning

Construction Business Owner

This recurring problem appears when final construction job cost comes in higher than the bid or contract project budget. As a business coach, I see numerous contractor income statements every year. I often hear company owners say that they bid using a 15-percent markup for overhead and 10 percent for profit.

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Keep the Profit Wheel Spinning

Construction Business Owner

This recurring problem appears when final construction job cost comes in higher than the bid or contract project budget. As a business coach, I see numerous contractor income statements every year. I often hear company owners say that they bid using a 15-percent markup for overhead and 10 percent for profit.

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A Cash Flow Guide for Architects

Levelset

Let’s take a look at the basics of cash flow and how architects can budget their expenses and forecast their income to stay in good financial standing. Successful businesses and organizations budget their expenses based on historic data and revenue projections. Budget categories. Cash flow basics. Lucas Gray.

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How to Avoid Running Out of Cash on a Construction Project

Levelset

By predicting your cash requirements ahead of time, you know just how much work you can afford to take on and budget accordingly. Even if you budget your expenses and analyze your cash flow, unexpected expenses may arise, or you may have missed something in your initial planning. Poor planning. Stuff happens. Underbidding. Learn More.

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. They also serve as a way to check up on the financial health of your organization and ensure that you’re budgeting and forecasting accurately. Which then throws everything off from revenue forecasting to budgeting.

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. They also serve as a way to check up on the financial health of your organization and ensure that you’re budgeting and forecasting accurately. Which then throws everything off from revenue forecasting to budgeting.

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Basic Accounting Terminology for PMs

PSMJ Resources

The determination of income and recognition of revenue rests upon the collection of cash and payment of expenses in a cash-based system. The work plan establishes the budget by phase by which the project will earn revenue, and it includes contingency amounts not visible on the billing/cash side to clients.