Bidding made better with go/no-go analysis

To bid or not to bid? For contractors, this is always the question. When times are tough, you may be tempted to bid on anything and everything. During a more stable economic climate, however, you can and perhaps should be as selective as possible. How to make this critical decision is the question beneath the […]

Keeping a close eye on contract allowances

In construction, and life, uncertainty leads to conflict. When two separate parties are unsure about something, they could very well reach two different conclusions and end up at odds. So it goes on many construction projects — especially homebuilding jobs — when contract allowances are involved. So if your business deals with contract allowances regularly, […]

Job Rescue: Best Practices when Playing the Hero

A funny thing has happened on the way to today’s improved economic environment for construction. Many developers and contractors have leapt unprepared into big projects and found themselves unable to complete the work. These misfortunes create opportunities for other construction companies to step in and “play hero.” But before you don the red cape, be […]

Don’t Miscalculate the Accounting Impact of Change Orders

Change orders are a mixed blessing. On the one hand, they present the opportunity to make more money on a construction project because of the additional or more complex work involved. On the other, if they’re mishandled, change orders can lead to conflicts, confusion and even lost money should a change go unpaid. One place […]