FINANCIAL & STRATEGIC PLANNING difference between mark-up and margin . Other factors to be taken into consideration include job cost status reporting , pay application , timing of payments , and the impact of change orders .
As far as project planning and execution is concerned , this task starts with knowing how to select projects , bidding and estimating , and scheduling . Contractors should also be aware of costs associated with the buyout process , materials , equipment , and subcontracts . Lastly , while completing the project , small and emerging businesses need to manage progress payments , change orders , certified payroll and other regulatory and compliance issues .
Administered by Merriwether & Williams Insurance Services , the Contractor Development Program ( CDP ) is in a unique position to assist contractors with critical strategic planning to achieve success . Through our Program , we can help Local Business Enterprises ( LBEs ): analyze strengths , weaknesses , opportunities , and threats ( SWOT Analysis ); and create an effective business model linked to a profit model and a marketing plan .
Our SWOT Analysis helps LBEs create a solid company structure by examining key partners , activities , and resources . We also look at the contractor ’ s value proposition to ensure on-time and on-budget work , LEED compliance , and innovation . Target market needs will also be reviewed for contract types , service channels , and the best value .
The CDP also includes a fast-track approach to providing the training needed to participate in surety bond guaranty and contract finance programs , the do ’ s and don ’ ts of contract review , estimating and schedule preparation .
Our training and guidance are focused on meeting the challenges of capital management through the use of available loan and bonding resources ( such as contract-based finance working capital loans ), field and home office level project management , and creating a forwardlooking plan for ongoing business development and management .
The end goal of our CDP effectively sets the stage not only for LBE commercial independence , but for delivering projects as promised and ensuring that the long-term profit reward outweighs the risks of assuming the project .
For more information on Merriwether & Williams ’ financial and strategic planning assistance , contact us at cdp @ imwis . com , or call us at ( 415 ) 986-3999 . View a
video of our online webinar on this subject .
FIRST QUARTER 2023 CCSF CONTRACTOR TOOLS - 05