Many contractors do not understand the serious implications of failing to monitor and forecast projects monthly. Companies that do not produce project status reports and work-in-progress reports could be receiving erroneous financial information and are making ill-advised business decisions based on that information, better financial planning enables project staff to maintain and run more profitable, less problem-prone projects.
Knowing the Score
Description
Duration: 1/2 Day
Instructor: Kathryn Crosby
Many contractors do not understand the serious implications of failing to monitor and forecast projects monthly. Companies that do not produce project status reports and work-in-progress reports could be receiving erroneous financial information and are making ill-advised business decisions based on that information, better financial planning enables project staff to maintain and run more profitable, less problem-prone projects. Some of the topics to be explored are: how are monthly project status reports and work-in-progress reports produced; how should these reports be interpreted and what do they mean to the company; what are over-and under-billings and why is it critical to book them monthly; how do financial statements work and what do they mean; what do surety companies look for.
