10% of respondents don’t review job costing reports at all. And yet, job costing reports aren’t as common as you’d think. Those who create a job costing report for every project feel 10% more confident in the accuracy of their project costs and were more likely to complete projects faster. What can construction and project-based businesses do to ensure greater profitability? Respondents who reviewed expenditures or costs daily were more likely to keep their projects on budget. Profits depend on diligence, labor costing Almost a third (29%) say they usually come away with less profit than estimated. With those numbers, profitability is hardly a guarantee. Some 60% said they felt very confident, while the remainder were at best only somewhat confident. Perhaps as a result, not all respondents reported a high level of confidence in estimating their project costs. When it comes to who prepares project estimates, business owners were more likely to take on the responsibility than financial experts.
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