Track Finances to Identify Underperformance and Reduce Costs
Equipment Routinely comparing what is budgeted for versus what is spent for each item of work in progress is the only way to effectively control project costs. This comparison is the only way for project managers to identify and correct underperforming areas before they snowball and become costly, project-delaying issues. Once problem areas are identified, […]
Project Managers — Get Control of Your Costs
There is only one way to effectively control your project costs and that’s to routinely compare what you’re spending versus what you’ve budgeted for each item of work in progress. This comparison is the only way for a project manager to identify and correct underperforming areas before they can snowball and become project-delaying, costly issues. […]
Too Much Backlog & Overextended Resources – What Should You Do?
Every contractor’s goal is to have enough backlog to fully utilize all resources without overextending manpower, cash or time. There’s no question that this can be a tricky balancing act. Taking a Closer Look When you look closer to why construction businesses fail, an excessive backlog is one of the most common reasons. The lack […]
Big is Not Always Better
An improving economy is often a precursor to a rise in contractor default. Why is this the case? For starters, in the excitement of building a bigger backlog contractors are often unprepared to support an increased workload with the existing resources. Uncontrolled growth often jeopardizes the efficiency of existing systems and can disrupt once successful […]
Bid to Win!
The Ingredients for Success — Every contractor knows that intelligent and accurate bidding is a critical ingredient to success, however, many contractors focus more on running jobs to make a profit rather than bidding smart to avoid a loss. The only way to consistently produce accurate bids that meet your company objectives is to put in […]