Archinect - News

5 Foolproof Ways to Keep Projects Within Budget

2018-04-11T09:00:00-04:00

This post is brought to you by BQE Core.

You’re probably all too familiar with budget overruns. Whichever professional services field you work in, they seem almost inevitable. Indeed, the Project Management Institute (PMI) reports that last year, 43% of projects went over budget. So, what can you do? Here are some suggestions.

1. Get Educated: PSMJ noted an interesting trend among AEC firm: There’s a direct correlation between project manager training, budget performance, and client satisfaction. Businesses who say that they formally train all of their project managers are able to stick to their budgets more often. They also have the happiest clients. On the other side, firms that have no formal training program are the worst at adhering to budgets and satisfying clients.

These results send a clear message: It’s worthwhile to learn the ropes before diving into project management.

2. Set Realistic Goals: Don’t set yourself up for failure by always agreeing to shoestring budgets and...

Why You Should Care About Project Accounting

2018-03-21T09:00:00-04:00

This post is brought to you by BQE Core.

You probably hear a lot about the importance of data. Gathering the numbers about your projects and firm, using business intelligence…it all sounds good, but what is it really for? Well, in the case of project accounting, a lot.

This is a topic we’ve covered in previous posts on Archinect. As a refresher, project accounting is the practice of tracking and analyzing the financials of your individual projects. We’ve shown you the data you need to collect to undertake project accounting and told you about the technology that makes it simple. This time, we’ll zero in on the benefits it offers, from improved profitability to better staffing decisions and beyond.

1. Truly Understand Project Profitability: Increased profitability is the most widely cited and straightforward consequence of project accounting, and with good reason. By closely monitoring the resources that go into a project and their resulting revenue, you can drill down and truly unde...

Increase Efficiency and Morale by Spending Less

2013-12-05T01:02:00-05:00

This sponsored post is brought to you by BQE Software:

Multi-million dollar industrial and commercial clients don’t tolerate a lot of things—not sloppy jobs, not late or bloated invoices, not cheap-looking handmade reports, and they sure don’t put up with excuses.

Johnson Pace Incorporated had to figure out how to keep high profile clients happy while delivering cost effective engineering, architectural and surveying services. Here’s how they did it:

They Stay Cost-Effective

They reduced employee overtime and saved $195,000 in overhead.

Did They Grow More Profitable?

Yes—very much so. But that’s surprisingly not even the best part.

The Best Part

The best part is they can make their clients happier with less effort. They’re able to provide detailed reports along with clear invoices so clients know the value of their services. They can count on referrals.

How They Did it All
They swapped out a well-known office management software for BillQuick as their time billi...