Understanding Your Construction WIP Schedule as a Key to Financial Success

Chapters: 0:00 - Intro 0:12 - The Importance of a WIP schedule in Construction 1:33 - Updating Your WIP Schedule Regularly 2:14 - Understanding How Job Costs Relate to Revenue 3:48 - The Practical Value of Estimates A work-in-progress (WIP) schedule can be a tremendous asset for a construction company. But its value is often underestimated. In this video, Warren Averett's Chris Branch, Claiborne Morris and Will Aderholt discuss how a construction WIP schedule can inform your planning and improve business insights. Key Takeaways: It's important to update your numbers and involve your team regularly A construction WIP schedule provides valuable feedback for bidding and planning for the future Job costs are linked to revenue A construction WIP schedule provides a different perspective of financial health than your company's bank account balance Don't forget to like, comment and subscribe for more! #ConstructionManagement #WIPSchedule  #ConstructionBusiness #ConstructionFinance #ContractManagement #ConstructionAccounting