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Completed Project Profitability Report
When looking at the financial reports for a company, it is easy to get caught up in big-picture enterprise numbers analysis. When this happens, there is the very real risk of missing an important piece of information.
This was brought home to me when I had a client comment, as we were reviewing his financial reports, “I know we are going through these financial numbers every month to see if the business is improving, but is there any way to see the financial results on a JOB basis? I want to know if the JOB was profitable.“
He is absolutely right. If the jobs are not profitable, there is no way the company is going to be profitable.
Further, if you can’t figure out why a job was not profitable, you don’t have any way to fix the problem for future jobs.
A few topics to keep in mind --
Profitability starts with picking the right market segment
Know the difference between "Mark-Up" and "Margin"
When you use MARK-UP instead of MARGIN
Make sure your estimate includes everything, every time
Manage subs to manage jobsite quality and profitability
Discipline your process to allocate costs to the specific project
Did you make a profit on your last project?
The form, available for download below, will help you answer this critical question.
It is a top-level report that compares the total collected from the client to the total you paid to build the project, and then informs you if the job was profitable or not.