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ASTM E2691: How the NEW standard for Construction Productivity Measurement affects Revenue Recognition 
June 15, 2011   3:00pm - 4:00pm
01h 03m 46s - 56 Slides  
  Synced Audio / Slides

Job Productivity Measurement (JPM) measures construction production rate and productivity as accepted by the customer. Adopted by the American Society for Testing and Materials (ASTM) as standard practice E2691, JPM will reduce the need for end-of-the-job inspection on construction projects by providing ongoing and periodic feedback on errors, repairs, and rework. JPM allows for better WIP reporting by improving the accuracy of tracking percent complete, and combines accounting and operational data to make productivity and progress billing much more visible.

This session will introduce the basis of JPM and highlight revenue recognition using the actual construction put-in-place used in JPM. It will also introduce gross margin calculation based on JPM. Finally, attendees will learn how JPM can positively impact cash flow.

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