Archive: Project Management

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Improve Contract Outcomes with Risk Management

How to apply risk management concepts to contract management The value of risk management lies in your organization’s ability to apply critical thinking and adopt a culture of risk management that influences decisions and execution of risk fundamentals to manage uncertainty and increase predictable outcomes. Today’s organizations operate in an inherently risky environment. Managing contract […]
December 19, 2017

Project Management and Accounting – How Are They Related?

The financial success of a construction contractor can depend on a variety of factors including the quality of its product, its reputation, the management of the enterprise, and its ability to sell profitable contract work. The financial success of a construction contractor is also dependent on disciplined project management, which is intrinsically linked to a […]
November 12, 2015
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  • Aronson

Indirect Cost Series: Part Two – Cost Pools and Developing an Indirect Cost Rate

In part one of our indirect costs series, we focused on what indirect costs are and why they are important to contractors. In this post, we will discuss cost pools and how to develop an appropriate indirect cost rate to allocate indirect costs to your construction projects. As discussed previously, indirect costs are costs that […]
September 2, 2015
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  • Aronson

Indirect Cost Series: Part One – What Are Indirect Costs?

This is part one of a five-part series on indirect costs. When contractors are accounting for contracts, it’s easy to account for the typical project costs that come from an invoice for tangible materials delivered to a site. However, other costs, known as indirect costs, are often forgotten in the planning and budgeting process. In […]
August 26, 2015
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  • Aronson

Construction Cash Management Series: Part Five – Contract Closeout

Managing Company and Project Cash Flow for Profitability In this final post in our cash management series for construction companies, we will address how the last section of the project life cycle can be hazardous to effective cash flow due to the difficulty on collecting final payments. Earlier installments in the series have focused on Pre-Bid […]
April 30, 2015
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  • Aronson

Construction Cash Management Series: Part Three – Pre-Construction

Managing Company and Project Cash Flow for Profitability In parts one and two of our cash management series for construction companies, we discussed the Pre-Bid and Bid stage, as well as the Contract Award phase. This article focuses on how you can make effective cash management decisions in the Pre-Construction phase. TIP: During the planning […]
April 16, 2015
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  • Aronson

Construction Company Project Cash Management for Profitability

Cash management is the act of organizing, planning, controlling the collection, investment, and disbursement of cash. In the construction industry, it is crucial to keep an eye on your company’s cash flow as well as the cash flow on your major projects. For that reason, acquiring a comprehensive knowledge of this process is essential to […]
October 29, 2012
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  • Aronson

Industry Trends: Discretionary Spending Down, Profit Margins Up – Read more!

Deltek releases GovConClarity Industry Trends this week, confirming our observation of trends over the past year. Highlights from the survey are: Overall pool of available dollars for discretionary spending is down 4%. There are a few growth sectors – Energy/Conservation, Budget Streamline Processes for the Government; Healthcare; and, of course, Cyber. In general, it appears […]
March 19, 2012