Executive Summary: Knowing the basics of accounting is essential in business. Knowing the balance sheet will help you assess your own financial health as well as that of your clients or subcontractors. Here are some basics on the balance sheet and, specifically, the...
Estimate Handoff – Estimators to Field Team
Executive Summary It’s great that your estimators just landed a new project, but your competitive advantage can be lost without a synchronized handoff to the field team. Make sure to have a formal meeting between the estimating and project management teams before the...
Bid Unbalancing – How It’s Done To Increase Profit
Executive Summary Contractors unbalance unit prices in their bids to take advantage of anticipated quantity overruns and underruns. An intelligent unbalancing of the unit prices can result in higher profits. Of course, that’s the contractors’ goal. Review the example...
The Good and the Bad of Contracting
Executive Summary: Contracting can be the most fantastic of businesses, but also one of the toughest. Read about some of the things that make it the best and the worst of businesses. What makes contracting unique? I think that everyone thinks their business is...
Consistency Results in Predictability
Executive Summary: Sustaining a business, and more so growing a business, relies heavily on consistency in business practices. Start today with improving your company’s practices so that profitability can be maintained and even improved. Better yet, let your...
Killer Clauses: No Damages for Delay
Executive Summary: A presentation on March 8, 2017at the 98th Annual AGC Convention reviewed ten (10) “killer clauses” in contracts. The “No Damages for Delay Clause” was #4; it is discussed, and proposed language to neutralize the clause is presented. What’s at...