Can You Accurately Manage Cash Flow Without a WIP Schedule? Short Answer: No
Relying on traditional spreadsheets and tracking costs after the fact is a poor business practice known in professional project management circles as “management from the rearview mirror.” Making present and future cash flow decisions based on past project history is like closing the proverbial barn door after the horse has run away. Avoid Managing from…
The WIP Schedule as a Strategic Tracking Tool
Strategic WIP Tracking with Cabbage for Sage 300 Construction The benefits of using a WIP schedule go far beyond complying with requirements from surety underwriters, bonding agents, and bankers. However, those financial entities will make bonding capacity decisions based on your company’s ability to run a job profitably, and they rely on your WIP reports…
Using WIP Reports to Improve Change Verification in Sage 100 / Sage 300 Construction
Using Cabbage & WIP Reports to Improve Change Verification in Sage 300 CRE or Sage 100 Change verification requests are necessary when something doesn’t match between construction documentation and the physical work site. Deviations from agreed-upon estimates and costs cause significant headaches later, so work-in-progress reports are a fastnd efficient way to tackle change verifications….
WIP Schedule Best Practices using Cabbage and Sage 100 / Sage 300 Construction
WIP Schedule Best Practices using Cabbage and Sage 100 / Sage 300 Construction A work-in-progress (WIP) schedule is the holy grail in the construction industry. Unlike the traditional system of calculating profit or loss on overall cost, the WIP uses percentage of completion (PCM) method to determine the profitability of a contract. Here are some…