article thumbnail

3 cash flow forecasting tips for your next big construction project

Viewpoint Construction Technology

Effectively managing cash flow is critical for contractors’ success. Considering these complexities, it’s easy to understand why, throughout the life of a project, a variety of things can change — directly impacting the original cash flow forecast. Create Rolling Enterprise Cash Flow Forecasts.

Cash Flow 130
article thumbnail

What is Retainage in Construction?

Lets Build

Almost every construction professional faces the same problem – cash flow. Large upfront costs and long waiting periods between payments are a normal occurrence; retainage adds to this cash flow problem for contractors and project managers. Retainage percentages and negotiations.

Cash Flow 147
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction quality management: Everything you need to know

Lets Build

From ambient weather to subcontractor failures, construction projects can be derailed in numerous ways. From a builder’s perspective, many potential risk factors can be anticipated and pre-emptively resolved by developing a construction quality management plan. What is construction quality management? A game of risk.

article thumbnail

7 Things Contractors Need to Know About Retainage

Fieldwire

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.

article thumbnail

5 Critical Construction Project Reports your System Should Pull Without Fuss

Viewpoint Construction Technology

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
article thumbnail

Maximising ROI with construction project execution software

Lets Build

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.

article thumbnail

Building Strong Starts: Protecting Profit Margins Through Effective Preconstruction

Autodesk Construction Cloud

Because preconstruction offers the biggest opportunity to de-risk a project. Integrating design with other project processes creates a more cohesive workflow and enables teams to make data-driven decisions. Doing so enables you to eliminate potential change orders and pay applications, ultimately leading to better cash flow.