Your Business

 

 

Articles in this section are intended to help electrical contractors grow and improve their businesses, from financial and legal advice to creating a service and maintenance department. You’ll find articles on estimating projects and more below. 

Last month, I wrote about basic considerations for processing change orders. Now, it’s time to dig into the details. Let’s start from the beginning.
 The contract


Every four years, the American Society of Civil Engineers (ASCE) releases its Infrastructure Report Card, which grades the condition and performance of infrastructure in the United States.

While President Trump campaigned on a promise to boost opportunities for fossil fuels and revitalize the coal industry, market forces might already have limited his opportunities for fulfilling that pledge.

While the Maryland state legislature debates whether or not to extend the EmPOWER Maryland energy efficiency program, the American Council for an Energy Efficient Economy (ACEEE) has released multiple studies encouraging it to continue.                                           

More on Your Business

 
Survey: U.S. Reactors Produce Record Power Generation

Global power generated by nuclear reactors fell about 3.6 percent in 2007 from the 2.8 billion megawatt-hours (MWh) recorded in 2006, according to data released by Nucleonics Week, a publication of Platts, a provider of energy and commodities information.


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NRC Issues Annual Assessments for Nations' Nuclear Plants

The Nuclear Regulatory Commission (NRC) has issued annual assessment letters to the United State’s 104 operating commercial nuclear power plants. All the plants continue to operate safely.


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Good and Evil

As a sequel to the discussion of adjustable speed drives (ASDs) in last month’s column, it seems appropriate to show how ASDs are a classic example of the often-quoted line from IEEE 1100 (also known as the Emerald Book).


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When the GC's Acceptance Is a Rejection

Waiver and estoppel are two different equitable concepts that lead to the same result. With waiver, a person’s actions result in the loss (a waiver) of a right. With estoppel, the right continues to exist, but it cannot be used. In both instances, the law is trying to do what is fair.


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Recession Protection

During the past 10+ years, I’ve worked with contractors of all different shapes and sizes. With many of them—regardless of shape or size—I have witnessed a common, dangerously fatal reaction to the “we-got-work-now” situation.


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Track the WIP

Construction contracting is one of the few professions that requires massive, up-front investment prior to actual cash inflow. The rule of thumb for any project startup is 30 percent of the total value of the contract has to be available before any billings.


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Managing Meetings

Last month, I offered some tips on reducing the cost of remote communication, such as letters, e-mails and telephone calls. Meetings are another source of inflated communication costs. Make a list of all meetings you held last year.


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