Tips to Prevent and Detect Bid Rigging
By understanding the signs of potentially fraudulent bids and taking proactive steps to thwart their likelihood, construction executives can deter this illegal practice.
Six Tax and Surety Considerations for the New Lease Accounting Standard
Contractors should discuss how changing accounting methods, tax planning and complying with the lease accounting standard will impact current and future surety agreements and debt covenants.
Solutions to Common Red Flags in Construction Cost Estimating
The essence of estimating is counting things, applying prices to those things and putting “a number in the box,” which is more difficult than it sounds. Here are a few common problems in cost estimating and best practices to avoid them.
Document Management for a Paperless—and Efficient—Office
A document management system can streamline access and maintenance of employee records, billing and accounts payable.
Four Safeguards for Material and Labor Price Variability
While predicting the future is impossible, there are steps contractors can take to minimize the risk of increasing construction input prices. The key is to recognize the potential for price variability before commitments are made.
Outgrowing Excel
Excel’s days may be numbered in today’s fast-paced construction environment. When a business grows in scale or complexity, it may be time to invest in a more sophisticated technology tool.
Create a Succession Plan That Includes the CFO
Typically, a succession plan focuses on the CEO and operational management positions. It is rare, but important, to have a succession plan for the CFO as well.
Detect and Prevent Construction Fraud
By understanding the traits of a typical fraudster and steps to take to reduce the likelihood of insider theft, construction business owners can focus on protecting their liabilities, securing new contracts and overseeing their clients’ projects.
