If construction reporting was simple as Revenue – Expense = Cash, we could all open up a spreadsheet and call it a day. But with job costing, bonding requirements, production tracking, burden and overhead, keeping an accurate pulse on a construction company is a lot more complicated. That’s why contractors need accounting and reporting software designed specifically for the industry they work in, and when they’re exploring accounting software solutions, they should expect several important reporting capabilities. Without these “must haves,” contractors will be missing key parts of the picture they need to run their businesses optimally. Continue »

Corporate StrategyMore Like This

Project portfolio management (PPM) is an emerging discipline in which a group of projects is analyzed, prioritized and collectively managed in a coordinated way. This approach allows project managers to reap benefits that would not be available if the projects were managed separately. It also allows them to periodically monitor the performance of projects in the light of changing conditions (e.g., finite resources, a changing marketplace or shifts in corporate strategy).

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Job CostingMore Like This

By benchmarking performance against set targets, assessing performance and evaluating success becomes easy. It also helps to close gaps and plan for improvements. Effective performance management involves developing measures and indicators, evaluating existing methods and procedures, improving quality, and implementing changes. Results found through different measures provide inputs to manage performance and lead to continuous improvement and better estimating, which makes it possible to win more bids.

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