This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
For any General Contractor contemplating revising its cost codes, we strongly recommend using the 2004/2010 Masterformat, (50 Divisions), rather than the tried and true 1995 Masterformat (16 Divisions). We’re sharing a more generic list of 2010 Masterformat Sample Cost Codes here, as a guideline for mid & smaller GC’s.
If a business is unprofitable in 2011, and has no taxable income to use the deduction, that business can elect to use 100% Bonus Depreciation and carry-forward to a year when the business is profitable. December 2010. November 2010. October 2010. September 2010. August 2010. April 2010. March 2010.
Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs.
Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” The profit you calculate when bidding a job can fluctuate dramatically as work progresses. Construction Business Owner E-Newsletter. -->. Home » Blogs.
Shared profit and risk and jointly developed project goals and values are keystones for team alignment for any project. Hanna, A., & Kievet, D. 32 Quantitative. Comparison of Project Performance between Project Delivery Systems. Journal of Management in Engineering, 36(6), 04020082. C., & Becerik-Gerber, B. Understanding Construction.
And risk can be a profit center, since insurance companies obviously make money. Even if this doesn’t become an actual source of profit in and of itself, contractors who actively work to understand and control risk are in a position to make smarter project decisions that lead to higher profit margins. December 2010.
But without exception, the story that each team told through their symbols focused on people, not projects or profits. No discussion of business practices, financial measurements, or profit-building strategies. December 2010. November 2010. October 2010. September 2010. August 2010. April 2010.
But to count on them as the source of profit is to bank on an unpredictable variable that is not under your control, that is hard to manage, and that you may wish to use for a completely different purpose – business development (more on this in a moment). December 2010. November 2010. October 2010. September 2010.
This in turn lets the estimators use equipment rates that are spot on when estimating forthcoming work, which helps to get new work, and bring that work in profitably. December 2010. November 2010. October 2010. September 2010. August 2010. April 2010. March 2010. February 2010.
Look for software that does a better job providing applications based on the workflow of a project from cradle to grave, and that provides web-based anywhere-any time visibility into job progress, profitability, change management, and more for everyone who involved in the success of a job. December 2010. November 2010.
But the point at which the office meets the field – where job progress is tracked, profitability is calculated, invoices and change orders are processed – this is the point where bad (or no) communications between the field and the office results in diminished performance and profits. December 2010. November 2010.
Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. If leadership success was measured only on profitability, then there were certainly many “great leaders” sitting in the CEO position of many contracting companies. December 2010. November 2010.
We organize all of the trending information in your field so you don't have to. Join 116,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content