In times of uncertainty, the best strategy is to do everything possible to preserve your capital and ensure credit will be available as needed.
cash flow COVID-19 leadershipEarly identification of changes and conflicts is the first key to success. The capability to identify changes and conflicts early in the process is a combination of organizational structure, systems, management, training, and coaching.
cash flow customer satisfaction estimating foreman training labor productivity preconstruction project management project planningFor contractors to manage changes effectively, they must understand the entire change management workflow up through the project owner’s approval and payment process.
business management cash flow change management foreman training project management value stream workflow mappingContractors don't typically see the full negative impact of changes and, therefore, don’t put the right level of resources into their management.
cash flow customer satisfaction estimating financial management foreman training labor productivity project managementConstruction is a cash-intensive business and change orders are often one of the root causes of poor cash flow. A 30-day improvement to change management workflow can generate over $400K in additional cash flow for a $50M contractor.
cash flow change management financial management foreman training project managementDo your projects burn or build cash? The biggest cash flow variable for a contractor is their projects. Cash flow is a critical scoreboard metric for contractors.
cash flowThe business of construction is both challenging and exciting, with days full of risks and rewards. Jack Stack calls it “The Great Game of Business,” where he describes how to create a culture of ownership.
cash flow scoreboard sustainable growth wisdomContracting is a very capital-intensive business and it is critical to constantly be watching cash flow performance. This metric is the highest level of an “OUTCOME” for cash flow at the project level, summarizing the performance of ops and accounting.
cash flow metricsMaximize your people, projects, profitability, and customer relationships by making your submittal log and process a little less "efficient" and a whole lot more effective.
cash flow field productivity project management submittalsThis outcome-based scoreboard keeps everyone focused on what matters. Avoid metric overload and diffusion of resources. All other metrics throughout all levels of the organization fall into a hierarchy below these with priorities changing over time.
business management business planning cash flow metrics scoreboard succession