Tag Archives: Cash flow management
Posted on February 14, 2017 by FMI CorporationAny principal of a construction firm will tell you that cash is king. There is little room for error when it comes to feeding the cash cycle. Why not apply the same focus and fervor to collecting the monies that are owed to your company as you do to installing the building components for which you bill? Often, too much of the responsibility for collecting receivables is shifted to the accounting department. When accounting investigates the nature of an account and the reason for delinquency, it is often determined that the client has withheld payment because it has yet to receive consideration for payment as outlined in the contract. Examples range from a significant deviation from the schedule of values to failing to deliver as-built drawings.
This post was posted in Consulting and was tagged with construction industry, Construction cash flow, Cash flow management, Relationship building, construction firm blog, collections construction, construction best practices
Posted on April 3, 2012 by FMI CorporationConstruction Project Health: The Story of Earned Value By John Chaney Guest blogger John Chaney, co-founder of Dexter + Cheney, a Seattle-based company that specializes in construction management software, shares his thoughts on earned value. For those of you who read my last blog on cash flow management, you may have been left wondering exactly how you are supposed to keep track of your construction projects’ job costs. Fortunately, there is a simple, but powerful measurement that will help you know when your project is healthy, and when it’s in trouble: earned value.
This post was posted in Consulting and was tagged with construction industry blog, A/E/C blog, FMI Corporation, Earned value, Construction project job costs, Cash flow management, construction project health