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West Palm Beach Project Management
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Latest Project Management News and Articles

Dual Overhead Rate Recovery

The right application of cost makes contractors financial picture improve greatly. Not knowing your accurate costs for each bid results in serious business consequences.

Estimating too much cost, he won't win the project. He might not win any projects. This can be "slow death"

Bidding too little cost, he pays to finish the job. The contractor might even be bankrupted on the way to complete the project. This may be "sudden death."

An accurate cost picture does give a contractor the most power in a negotiation. Once, he or she knows the breakeven, the poker game starts. This poker game is one area where the contractor either wins or loses. There are no ties. He must be certain of his position.

How do we arrive at an accurate cost? Two crucial steps among several are 1) The proper application of overhead costs for this project 2) Job sizing to proportion overhead and profit the volume of the job.

Negotiating Skills for Contractors

Negotiating is the best use any construction professional's time. We make or save the most amount of money in the shortest period of time. In our experience, everyone has said "yes" or "no" at the right time and made a ,000 in twenty minutes. If we could do this on an hourly basis, we would retire early. The construction business would be our hobby.

These are basic rules that must be observed if you are to have an above average negotiation. Do these and you will reap benefits. Guard against the gambits that others will use against you. Remember, what you deserve is what you negotiate. Here is the list of rules with some of the tactics to be wary:

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Thank you for visiting our blog. We are pleased that you have joined us. This site is for the express purpose of being a resource for construction leaders. We work as management consultants with construction firms. Presently, we have posted over 80 full-length articles ranging in subjects such as managing people to processes to financial management to computers. Enter your key word and I am certain we will have some information for you. As you read these articles, please let us know your thoughts. This adds to the quality of our blog. The articles contained will become an "old world" published book. As we build our book, recognize that these are not random thoughts or musings. Again, we work everyday with the construction industry. These articles are our interpretation of how to "work smarter" as a contractor. Please comment as you see fit. We look forward to conversing with you.

Devols Dam project’s hopeful end in July (The Marietta Times)
The .5 million restoration project to the Devols Dam locks is expected to be completed by July 15, according to the contractor in charge of the project.

The 70% Solution: Practical Testing and Version Control
CTOs, CIOs, and all officers who oversee major development projects have had to deliver the dreaded message. But a deadline for the sake of a deadline is a dangerous pitfall that can consume an entire project and stymie it to the point that it never launches. Over the years the author has come up with six simple rules that help deadlines become more meaningful, while keeping the developers, the user community, the CFO and the CEO all satisfied.

PlanView Positioned in Leader Quadrant in 2005 Project and Portfolio Management Magic Quadrant (Business Wire via Yahoo! Finance)
PlanView, Inc., a leading provider of comprehensive IT portfolio management solutions, announced today that it has been positioned in the leader quadrant in Gartner, Inc.'s "Magic Quadrant for IT Project and Portfolio Management" published June 22, 2005.