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An Approximation Based on Two Guesses

An Approximation Based on Two Guesses

by | Jul 7, 2021 | Business, Strategic & Project Planning, Business, Strategic and Project Planning, Business, Strategic and Project Planning, Business, Strategic and Project Planning, Current Events/Interests, Leadership, Leadership, Leadership, Leadership, Weekly Construction Message

How is it possible that construction concerns being run by professional managers in the 21st century often run out of cash and suddenly cease operations? Most modern industrial companies have heads-up enough to file a bankruptcy and ask the court to help them work out...
WIP Accounting – Critical and Often Misunderstood

WIP Accounting – Critical and Often Misunderstood

by | Jun 30, 2021 | Business, Strategic & Project Planning, Business, Strategic and Project Planning, Facility Management, Leadership, Leadership, Weekly Construction Message

In a study of thousands of construction company audited financial statements testing the profit projected on work in progress (WIP) reports over five years to the final reports of completed project profits, I found the average difference to be a little over 1% profit...