Using Timelines For Rehab Jobs

[Christy Barton]

As someone who's had some exposure to the A&E industry, I know how important it is that projects finish on time and on or under budget (preferably the ladder).  This same rule applies when trying to manage contractors on flip projects - yet I see very little in the forums/blogs about the importance of a timeline.  Are others budgeting their flip projects down at the phase levels, then created subphases and tasks with est. start/completion dates?  If so, how well do contractors respond to such detail and does this level of budgeting really help to keep things moving at the right pace?  Are incentives used to keep your contractors on target?  Are there penalties for missed deadlines?