Executive Summary There are basic differences between cash and accrual accounting. Here’s a quick review. What is Accounting? Sounds simple, right? It’s just keeping track of money in a business. And money only does one of two things – it either goes in the bank...
You can find Part 1 here. Let’s run through an example. Let’s do an example so you see some of the challenges. Let’s take one cost code in your budget – let’s look at roadway subgrade. Below we have the budget for this cost. You can see the cost code is “1001” and...
Executive summary. An accurate job cost projection is vital to Company survival. And it’s not too complicated if you know the budget, the timing of your costs, and can do a little bit of estimating. It’s NOT about blindly relying on quantities completed! What’s a...
Executive summary. Field overhead carries different names with different contractors and owners. Discussed here is what field overhead is, and why it’s important for owners to understand. Project estimation. When a construction project is estimated, a good estimate...
Executive Summary A construction claim is a dispute in the Work as it was contemplated in the original construction documents. However, a large percentage of what drives a claim is not the Contract. It’s the people. It’s personalities. The Spark Losing money. That’s...
Executive summary. If you are interested in communicating information to your audience, and you want your audience to absorb and remember what you’re saying, communicate effectively. Communicate using vocabulary, tempo, brevity, and body language that your client...