The Art & Science of Forecasting Construction Cost: Part 1
THE ART & SCIENCE OF FORECASTING CONSTRUCTION COST – TYPES OF CONSTRUCTION COST ESTIMATES By Joe Parton Cabbage Software There are three types of construction cost estimates. Construction costs constitute only a fraction of a project’s total cost and typically fall under the control of the construction project manager. Cost estimate accuracy varies…
Project Management Best Practice – Estimate at Completion
Construction Project Management Best Practice – Estimate at Completion – Financial forecasting Managing projects involves keeping track of various metrics. Both managers and clients want information about how a project’s progress is forecasted to go. This includes both the expenses and the amount of time needed to complete it. To find out whether a project…
Why WIP Schedules Are the Key to Accurate Estimates
Why WIP Schedules Are the Key to Accurate Estimates in Sage 300 CRE How accurate are your financial statements? If you’re like most construction contractors, you do your best to be as accurate as possible, but don’t always hit the mark. If you err gravely enough, you may find your bond agent unwilling to let…
Track Your WIP to Improve Financial Performance
Track your WIP and produce more accurate forecasts. As a professional construction contractor, you’re certainly aware of the benefits that a well-thought out Work-In-Progress (WIP) report can offer you. Properly tracking the data that the report offers can help you save money and be more efficient – but what is the best method for tracking…