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…
The Difference Between ‘Estimate at Completion’ and ‘Estimate to Complete’
‘Estimate at Completion’ and ‘Estimate to Complete’ in financial forecasting Construction projects don’t always run on time, so construction and real estate companies must adjust their estimates as project variables change. When that happens, you need to know the difference between ‘estimate at completion’ and ‘estimate to complete.’ WHAT IS ESTIMATE AT COMPLETION? An estimate…
Why Verifying Project Profitability is Important
Verifying Profitability in Sage 300 CRE (and beyond) is important When taking on a new project or analyzing an existing one, you should complete a project profitability verification. Confirm Accuracy Before starting a new project, or when assessing an existing one, you need to verify the project profitability to confirm the accuracy. The financial success…
The Importance of Understanding Estimated Costs vs. True Costs
Understanding Estimated Costs vs. True Costs in Sage 300 & Beyond In his article at the 415 Group, CPA Lee Kammerer says that the process of estimating and presenting costs to complete on contracts in progress is as much an art as it is a science. The integrity of a contractor’s financial statements is supported by an…