by Simplar | Jul 31, 2025 | Built Environment, Business of Construction, Cash Flow (Getting Paid), Financial Management and Risk, Financial Management and Risk, Risk Management, Weekly Construction Message
The state-of-the-art in construction accounting has advanced over the years but continues to be an area of great concern. One of the most difficult and misunderstood processes in the construction business is capturing all the data accurately and in a timely fashion...
by Simplar | Jul 24, 2025 | Built Environment, Business of Construction, Financial Management and Risk, Financial Management and Risk, Weekly Construction Message
The management of working capital in a construction company begins with a job-by-job cash flow plan. The individual cash flow plans are then consolidated into the monthly cash needs forecast. That forecast is revised regularly by the Chief Financial Officer as...
by Simplar | Jul 17, 2025 | Built Environment, Business Failure, Business Failure, Business of Construction, Cash Flow (Getting Paid), Financial Management and Risk, Financial Management and Risk, Leadership, Risk Management, Risk Management, Weekly Construction Message
Managing cash flow in a construction company is a daunting task. The unique nature of the construction transaction makes it almost impossible to match cash flowing in with cash flowing out. Low bid margins are often so tight they’re insufficient to maintain ongoing...
by Simplar | Jul 3, 2025 | Financial Management and Risk, Financial Management and Risk, Risk Management, Risk Management, Weekly Construction Message
Back in the 1960s “What Me Worry” was the masthead motto of a little counterculture publication known as Mad Magazine that is still around somewhere to this day. Some of you more senior readers out there may remember it. At that time, my brother and I were...
by Simplar | Jun 26, 2025 | Built Environment, Cash Flow (Getting Paid), Financial Management and Risk, Financial Management and Risk, Financial Management and Risk, Leadership, Leadership, Risk Management, Risk Management, Weekly Construction Message
A major theme throughout the Godfather trilogy is betrayal by enemies hidden within the family. “You’re nothing to me now, Fredo” Al Pacino says to his brother who has betrayed him in Godfather 2. “Nothing happens to Fredo while my mother is...
by Simplar | Jun 23, 2025 | Board of Directors, Built Environment, Business of Construction, Business, Strategic & Project Planning, Financial Management and Risk, Financial Management and Risk, Leadership, Risk Management, Weekly Construction Message
I have been waging a lifelong campaign to convince contractors that financial management is a professional skill and a critical component of their team. Our profits are limited by unique risk factors like multiple simultaneous projects, extended schedule, and risks of...
