Are your construction project cost reports worth the paper they’re printed on?
In a previous article, I discussed how important it is to know whether your construction project is making or losing money. Some contractors don’t bother with project cost reports. They simply hope for the best, and that the construction project ends profitably.
While some contractors do sometimes prepare monthly project cost reports, unfortunately, these cost reports are of little value because they contain errors, or the information contained in them is ignored by the project team.
12 Common Cost Report Mistakes
Common construction project cost reporting mistakes include:
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The opinions expressed in the attached articles are those of the writer. It should be noted that projects are varied and different laws and restrictions apply which depend on the location of the contractor and the project. It's important that the reader uses the supplied information taking cognisance of their particular circumstances. The writer assumes no responsibility or liability for any loss of any kind arising from the reader using the information or advice contained herein.
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