The Importance of a Detailed and Effective Budget

The Importance of a Detailed and Effective Budget

Project Management
For most people, preparing both the schedule and budget can be intimidating. Both require knowledge and experience regarding what we are estimating, but the uncertainty can run high in both cases, especially in the budget. In many cases, our clients review the budget in the context of a competitive bid to win their work. Therefore, we want to prepare a competitive and attractive budget, but not so much so that we run the risk of going over budget and, thereby, losing money. Estimating costs becomes easier as we gain experience, and we can look at previous projects and their budgets. In other words, when we can look at a project or activity and discern the associated cost based on experience and lessons learned. The latter is crucial in estimating costs.…
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Understanding Start-Up Capital

Understanding Start-Up Capital

Finance for Non Financial Managers
You probably didn’t grow up dreaming of a career in accounting. But, I promise you if you don’t understand how the numbers work, you’re going to get yourself in trouble. What is the ROI of this project? If I increase my margins, what impact will it have on the bottom line? What is the break-even analysis for adding a new truck? If this all sounds like complicated financial speak, we are here to help. Many small business owners struggle because they aren’t comfortable analyzing and tracking their financials – there’s just not enough time in the day and there are too many other things to worry about. Anyone interested in building a stronger business needs to understand and use the information captured in financial statements.   Financial Literacy That’s where…
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