This article was originally published in CFMA’s Building Profits April 2019 Sometimes financial situations can cause a contractor to fail. But these mishaps can likely be avoided. Forecasting and managing the timely implementation and execution of cost controls can...
Executive Summary. It’s important as a contractor, or even as an owner’s representative, to know a bit more than the basics of scheduling. Familiarity of some of the terms is helpful regardless of what side of the table you’re on: Contractor or Owner. The...
Executive Summary: One of the most basic properties of a beam is its section modulus. How does the section modulus, S, come into play in structural design? And, why should I care? What is a beam? Keeping it simple here, a beam is a horizontal member supported at...
Executive Summary A GL account is separate from a cost code financial and job cost reporting. Here we introduce the basics of GL accounts What’s a GL Account? [edsanimate_start entry_animation_type= "rotateIn" entry_delay= "0" entry_duration= "0.5" entry_timing=...
How Contractors Can Solve Four Common Challenges Recently Mr. Jennings took part in a CMiC playbook about forecasting. Here are some excerpts and a link to download the full playbook. “Forecasting feeds the lifeline of the financial health of a company,” he says. “If...
In a best case scenario, a construction claim will make the contractor financially whole again on the matter. In a worst case scenario, the contractor goes out of business. Most claims conclude somewhere in between with all parties unhappy. There are some...