Accounting and Finance

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Accounting & Finance

Bid/Hit Ratios: What's Yours and What's Often Overlooked

Written by Jayme Dill Broudy

Construction Business Owner, July 2009

Dear Jayme:

I hear about bid/hit ratios but don't really understand them. Are they important? What should mine be?

Tags: 2009 July Issue , accounting , financial , Jayme Dill Broudy

Dear Jayme:

When somebody asks me how my business is doing, I don't always know the answer. If I've just seen last month's financials, I feel fairly confident in saying it's doing okay but there's a nagging feeling that I don't really know.

Robert

Tags: 2009 June Issue , financial , Jayme Dill Broudy

Cost Overruns - Reasons and Solutions

Written by Gary Hinson

Construction Business Owner, July 2009

Proper planning will prevent many problems that can haunt a project all the way to completion. Of course, this is the plan for almost all projects, but circumstances occur that cause some projects to go astray which make cost overruns inevitable. Key project members staying on top of a project by confronting problems at discovery and being attentive to avoid the problem from worsening is of the utmost importance.

Tags: 2009 July Issue , accounting , financial

Most construction companies only make an average annual net profit between 2 and 3 percent. Improve your construction labor costs by only 5%, and you can improve your net profit amount to 4-5%. This can be as much as a 100 percent increase in your construction business’ bottom line!
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