Picture this: You've just completed a $500,000 construction project. The work is done, your crew has moved on, but you've only received $450,000. Where's the other $50,000? It's sitting in retention and if you're not tracking it properly, you might never see it. For construction owners, general contractors, and subcontractors working with AIA contracts, retention isn't just a line item on payment applications. It's working capital that's temporarily out of reach, and in today

Your profit and loss statement shows a healthy profit for the year. But when it's time to make payroll or pay your suppliers, the cash isn't there. Sound familiar? This disconnect between profit and cash flow frustrates contractors every day. You're profitable on paper, but constantly stressed about money. The problem isn't your job costing or your estimating. The problem is you're not using your balance sheet to manage your business. Most contractors focus intensely on job c

When embarking on a construction project, selecting the appropriate contract agreement is crucial to ensure clarity, fairness, and legal...

In the fast-paced construction industry, managing complex AIA (American Institute of Architects) contracts is essential for project...

Cost-plus contracts have become a critical tool in industries where project costs can be unpredictable, such as construction, defense,...

Cost-plus contracts have become increasingly popular in the construction industry, especially for projects where scope and...

In the dynamic world of project management, controlling costs while maintaining flexibility is a constant challenge. Traditional...

Cost-plus contracts are widely used in the construction industry, especially for projects with complex or uncertain scopes. Unlike...

Cost-plus contracts  are a widely used procurement method in industries with complex or uncertain project scopes, such as construction ,...

Cost-plus contracts are widely used in industries where project scopes are uncertain or likely to evolve, such as construction,...

In the world of construction, engineering, and large-scale projects, cost overruns  remain one of the most common and frustrating challenges. A 2022 report by the Project Management Institute reveals that nearly 70% of projects globally suffer from budget overruns , often due to unforeseen changes and inadequate contract management. Among the various contract types, cost-plus contracts  are widely used because they offer flexibility and transparency. However, without diligent

In the dynamic world of project management and construction, managing payments effectively is crucial to maintaining smooth operations...