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Managing the Lifeblood of Construction-Cash Flow
Stephane McShane - Maxim Consulting Group, LLC
Cash flow is one of the most important issues facing contractors today. Having survived the downturn, companies are faced with starting new projects, hiring staff, and investing in assets to support the business. Many things can and should be done to improve cash management practices. We will explore a range of tools and techniques, from simple to complex, that allow firms to manage and control cash flow. Examples include proper tools to aid in the creation of a schedule of values, use of 12-week cash flow forecasts, project level cash flow forecasts, project closeout procedures, managing the billings and collection cycle and which key financial indicators need to be reviewed to maintain achievable and successful growth of the company.