Rework nobody tracked, effort nobody quoted. Tracking time to the hour shows where the money really goes.
The Most Common Margin Leaks
Rework that nobody tracked, effort that nobody quoted, and scope creep that slips through the cracks - these are the most common ways architecture firms lose money on projects. Most firms are leaving 15-20% of potential profit on the table due to these issues.
Tracking Time to the Hour
When you start tracking every team member's time to the hour, you gain incredible visibility into where your money is being spent. You can see which projects are profitable and which are draining resources, allowing you to make better decisions.
Implementing Better Quoting Practices
Accurate quoting starts with understanding your historical data. Use past project data to inform your quotes on new projects. Build in contingencies for scope creep and always get changes in writing before starting work.
Regular Profitability Reviews
Conduct monthly reviews of each project's profitability. Catch issues early before they become major problems. This proactive approach can save your firm thousands of rupees in lost revenue.