Traditional project management uses accounting that measures revenue earned by the percent complete based on costs. We believe this idea is flawed and Joe explains why.
Setpoint's Project Management Method Part 2
Setpoint's Project Management Method Part 1
The Setpoint way of project management is different from that of most companies. We are a project based company and the standard accounting method of tracking projects does not work for us.
Revenue Recognition in Managing Projects
At Setpoint, we measure percent complete by labor only. We evaluate how much labor was spent on a project every week and then we estimate labor required to complete the work and use labor only…
Why does the huddle work at Setpoint Systems?
Setpoint Systems is an open book company. This means that our books are open to our employees. The weekly tracking process happens on a big white board where projects are measured for material costs and…
Why cash and profit are different
A business fails when the cash runs out not when the company had losses on the income statement. In a liquidity crunch if a company can generate its own cash it will survive.