Remove Bidding Remove Finance Remove Profitability
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The Importance of Accounting Estimates in an Uncertain Economy

Construction Business Owner

Understanding this basic principle sheds light on the most fundamental element at the heart of every construction firm’s finances: accounting estimates, specifically related to job costing. These estimates provide management with a foundation to effectively interpret costs, profitability and bid processes.

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The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses

Levelset

Prioritizing a low bid over contractor performance is a lose-lose procurement strategy. Unfortunately, low bidding is an accepted practice for both owners and contractors alike. Owners will say that focusing on the lowest bid possible ensures they get a good price. Who’s responsible for low-bid procurement?

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The Secret Sauce to Protecting Construction Profits  

Autodesk Construction Cloud

By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. ” Clearly, technology can enormously influence your projects’ productivity and profitability. Little to no project or business predictability Most construction projects are like a unique snowflake.

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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. ” » The Expensive Process of Bidding. Without spending money bidding projects, you can’t get jobs to make money building them. With more people bidding on fewer jobs, the market is much more competitive. Reduce Bidding Costs. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. I know a lot of contractors are getting into bidding season, and this got me thinking about communication. Communication is an important element throughout any construction project, but given the time of year, I thought I’d focus on the communication difficulties faced during the bidding process.

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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. 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. MANAGEMENT |. ACCOUNTING |. SOFTWARE |.

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Constructonomics Gets Smoked Again

Constructonomics

So with all kinds of juicy gossip flying around the web these days, I’m going to give you some more with the public bid results for the remodel of the BerksCounty Library and Coroners office in Leesport, PA. The winning bid was a good 30% below the number I submitted. In fact, I was blown out of the water. Tell Your Friends.

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