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Cause and effect — How purchasing policies can impact profitability
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Winning the bid for a job is only the first step toward a successful project. It’s important for contractors to plan carefully, communicate clearly and track expenditures every step of the way. This article explains some ways to establish and follow consistent purchasing policies to increase the chances of achieving a beneficial profit margin. A sidebar looks at the effect change orders and variances can have on purchasing policies.
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| 3 advantages of cloud computing for contractors |
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The term “cloud computing” has been around for many years now. But, at the end of the day, the cloud is simply a metaphor for the Internet and “moving to the cloud” involves transferring some or all of a company’s applications from its internal infrastructure to an Internet-based service. This article describes three advantages of cloud computing for contractors.
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What’s goin’ on? — The power of job status reports
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Every construction company needs to respect the power of job status reports. These documents, clearly established and regularly refined, can mean the difference between keeping a good job rolling and letting a bad job happen. This article discusses the importance of accuracy, timeliness, updated cost data and communication in the critical process of reporting on project progress.
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| Construction Success Story — Creating an employee wellness program |
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In this issue’s “Construction Success Story,” we meet a frustrated general contractor who was doing everything he could to run a successful company yet still suffered lackluster profitability. His financial advisor noticed that employee absences and escalating health care costs could be partly to blame. So, together, they looked into creating an employee wellness program.
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This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2015 • CONmj15
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