Learn to Make Every Job Profitable and Avoid Financial Distress
The construction industry is fraught with good companies getting into financial trouble. Oddly enough, this happens more in times of economic expansion than in recessions and is just one of the unique aspects of a contractors’ economic model.
“Profitable Project | Profitable Business,” a new book from Cynthia Cechini Paul and Ken Roper, outlines the core financial management insights needed to build financial understanding and confidence to thrive in any economy. Through examples, they demonstrate how to build the financial strength of a project and the company while offering tips about how to prevent the potential pitfalls of tomorrow.
This book is for construction professionals looking to improve their financial understanding and skills. Whether their specific market focus is residential, commercial or industrial construction, contractors, engineers and architects alike will discover the tools needed to financially understand their projects and how they impact their companies’ overall health.
Topics covered include:
- Understanding work-in-progress reporting
- Managing cash flow
- The six key ratios every company should know
- Including profit in pricing models
- Working with banks and understanding bonding
- Managing risk across projects and the company
- Looking ahead to avoid financial missteps
"This is such a phenomenal resource to explain complex construction and accounting ideas in a simple way," says Victoria Belken, controller at Baldwin & Shell Construction Company. "There is so much to glean from this and how we can learn and better evaluate our company."
Discover how to make your company best-in-class in terms of financial performance and create appropriate risk controls across your organization. Having your people think like owners and understand financial controls will set your company up for long-term success.
Build financial savvy, understand the business side of projects and set up the company to generate best-of-class financial returns through the steps outlined in this book.
