Financial statements are an essential part of understanding the operating results for every contractor. Between the balance sheet, income statement, and statement of cash flows, financial statements can provide a large amount of data, but that data is only a snapshot of the results for a specified period (typically a month or year). How can you leverage this data to provide you with some key financial ratios or key performance indicators (KPIs)?
Technological innovations and other recent developments are rapidly altering the job estimators perform for construction companies. Estimators are taking on a more collaborative, value-added role — enabling them to have a significant impact on project costs, quality and risk management. Let’s look at some of the most important changes.