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3 cash flow forecasting tips for your next big construction project

Viewpoint Construction Technology

Effectively managing cash flow is critical for contractors’ success. Considering these complexities, it’s easy to understand why, throughout the life of a project, a variety of things can change — directly impacting the original cash flow forecast. Create Rolling Enterprise Cash Flow Forecasts.

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What is ‘Retainage’: Understanding Its Role in Construction Contracts

Building Radar

For more information, check out NetSuite’s resource on retainage. Commonly, 5-10% of each payment is withheld until the project’s completion. This withholdage helps manage cash flow and ensures that contractors address any final issues before receiving the full payment.

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5 Critical Construction Project Reports your System Should Pull Without Fuss

Viewpoint Construction Technology

The main reason construction businesses implement an integrated project management system is for the visibility that they can gain over every aspect of a project. Here’s a list of key reports that you should be able to pull at any moment from your construction project management software: Basic Accounting Reports.

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PSMJ Resources Blog: Effective Project Managers Need Authority

PSMJ Resources

Effective Project Managers Need Authority. Clients want strong project leaders rather than mere project “administrators” who’ll simply manage things and move them around. The PM must understand finance and serve as the last bastion of the firm’s cash flow picture.

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5 Reasons to Use Mechanical Contractor Software

Pro Builder

Construction software technology has not only helped general contractors but assisted trade contractors to provide their vital services and bring projects to completion. Since construction sites involve numerous planned and unplanned activities, the software can help contractors and project managers have better control of time.

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Construction Business Owner Blogs

Construction Business Owner

People Management. Equipment Management. Resource Center. Data Security in the Cloud » Collaborating on Cash flow. The topic of cash flow never seems to get old – after all, sustained negative cash flow often results in slashing budgets, personnel, and in the worst cases shutting down of a company.

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The Benefits of Construction Project Portfolio Management

BD+C

The Benefits of Construction Project Portfolio Management 1 kcichowicz Thu, 09/26/2024 - 09:45 In project-driven organizations, high performance means delivering the right projects, on time and on budget. 69% of them have integrated their project management systems with multiple tools for projects and portfolios.