2020 Summer Issue

Highlights:

CARES Act Provisions May Boost Cash Flow:  The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several provisions that can help construction companies reduce their tax bills and, thereby, boost their cash flows. This article discusses a couple of such opportunities involving excess business losses and business interest expense. A sidebar looks at the PPP Flexibility Act.

Managing Project Scope: It’s a Full-Time Job:  Many contractors don’t think about project scope until something gets really out of whack. The truth is, it’s a full-time job that should begin before a bid is even submitted. This article discusses best practices in scope management from preproject planning through completion.

Apply the Lessons of Crisis and Prepare for the Future:  It’s critical for contractors to learn from the COVID-19 pandemic and apply those lessons to preparing for the inevitable disasters and economic downturns of the future. This article offers five ways to do so, including reviewing jobs and backlog, as well as implementing best safety practices.

Five Construction Tech Strategies for the New Normal:  Even before the COVID-19 crisis, technology was transforming the way construction companies go about their business. The pandemic will likely accelerate the technological (r)evolution as contractors look for ways to work more safely and communicate more rapidly. This article covers five tech strategies, including going paperless and using robotic process automation.