« Typical Transactions and Their Effects on a Contractor's Financial Condition | Main | Improving Your Contracting Firm »
Construction Budgeting
Recently, I was presenting to several contractors and their executives. In starting a seminar, I ask several questions to understand the group and its composition. Then I ask "what part of contracting you enjoy most". In this session, the following results were:(these are common)
Building Projects More than 50%
Acquiring Work Less than 40%
Accounting / Finances Less than 10%
Not a surprising result for most people. However, a for-profit business must pay 100% attention to its finances. This is not an option. The ability to pay its bills determines solvency. Money is like oxygen to a business.
For the complete article, please, email us at clientservices@stevensci.com and write "Construction Budgeting Article" or go to stevensci.com and click on forms page.
This and other management information are part of our 400+ page book - To be published on September 27, 2006 by McGraw-Hill "Managing a Construction Firm on Just 24 Hours a Day”. It includes 170 best Practices Used in Construction Contracting with over 100 illustrations and examples. We include a CD of 60 Excel Templates when you buy a book from our website. We also include our library of forms and 5 online courses.
See our secure Miva / EarthLink / Card Services International bookstore: http://stevensci.com/Merchant2/merchant.mvc?Screen=CTGY&Store_Code=SCII&Category_Code=BCF24
Take our Free Sample E-learning course for construction. Go to constructioncbt.com
Matt Stevens is a management advisor who works only with construction contractors. He has performed training and business consultation for the contracting community since 1994. Matt can be reached at mstevens@stevensci.com.">mstevens@stevensci.com.
search terms: Pre-construction, post-mortem, lessons learned, sample budget, financial management, proforma budget, budget template
Posted by Matt Stevens at April 11, 2006 3:20 AM
Trackback Pings
TrackBack URL for this entry:
http://www.contractorsblog.com/cgi-bin/mt/mt-tb.cgi/25