Construction Cash Management Series: Part Five – Contract Closeout

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Managing Company and Project Cash Flow for Profitability

In this final post in our cash management series for construction companies, we will address how the last section of the project life cycle can be hazardous to effective cash flow due to the difficulty on collecting final payments. Earlier installments in the series have focused on Pre-Bid and Bid, Contract Award, Pre-Construction and Contract Performance.

TIP: Typically, problems related to collections originate in the customer’s dissatisfaction with the delivered product or with the management in charge during the project. Therefore, it is critical that the company works to satisfy the customer throughout …read more

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