Is Your Construction Project Losing Money?

Your project is losing money.
Do you know why?
Do you blame the estimator?
Do you blame your crew?
Do you blame the weather?
Do you hide the losses from your manager?
Do you shout and threaten those working for you?
Do you hope things will improve?
Do you run away?
Do you look for the real reasons?

When a project is losing money it is important to:

•  Investigate where the money is being lost.
• Put in place steps to recover money and mitigate further losses.
• Stay calm.
• Be upfront with your manager.
• Ask for help if necessary.
• Be at the coalface.
• Don’t procrastinate – take decisive action.
• There is usually always more than 1 reason for losses.
• Get to the underlying cause and not just the symptom of the problem.
• Do not take the wrong action that will make things worse or negatively impact the project.

In the next article I will discuss some reasons why your construction project could be losing money. Read Why is your construction project losing money?

Do you want to learn how to manage construction projects successfully?

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Paul Netscher has written several easy to read books for owners, contractors, construction managers, construction supervisors and foremen. They cover all aspects of construction management and are filled with tips and insights.
The books are available in paper and ebook from most online stores including Amazon.
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