Executive Summary When an owner determines the method of award is that the low bid wins, they shouldn’t expect contingency in a contractor’s bid. Here’s what they should expect. What is Contingency? If you go to google.com and type in “definition of contingency” you get this: [QR] A provision for […]
Cash v. Accrual Accounting – Whatchu Talkin’ About Willis?
Executive Summary There are basic differences between cash and accrual accounting. Here’s a quick review. What is Accounting? Sounds simple, right? It’s just keeping track of money in a business. And money only does one of two things – it either goes in the bank account, or out of the […]
How to do a Job Cost Projection: Cutting through the Fog – Part 1
Executive summary. An accurate job cost projection is vital to Company survival. And it’s not too complicated if you know the budget, the timing of your costs, and can do a little bit of estimating. It’s NOT about blindly relying on quantities completed! What’s a projection? It also carries different […]