I introduced the concept of beliefs into my teaching about 20 years ago. I noticed during my years of research and countless interactions with contractors that there were a multitude of assumptions about the nature of the construction business out there that were...

Is Construction a Good Investment?

Aug 14, 2025 | Built Environment, Business of Construction, Business, Strategic & Project Planning, Business, Strategic and Project Planning, Financial Management and Risk, Financial Management and Risk, Leadership, Weekly Construction Message

I’ve been a management consultant to the construction industry for 40 years. I have taught construction business management at some of the nation's best construction universities. I have spoken at literally thousands of construction industry conventions. In all that...

The Problem with the Construction Business

Aug 7, 2025 | Built Environment, Business Development, Business Failure, Business of Construction, Business, Strategic & Project Planning, Business, Strategic and Project Planning, Financial Management and Risk, Growth, Leadership, Weekly Construction Message

In last week's message I closed my eyes and dropped a bomb. Did you hear it? If not, I suggest you go back and reread last week's message. For me to admit to my readers that construction financial accounting is, to a large degree inaccurate, is I assure you, quite a...

The Problem with Construction Accounting

Jul 31, 2025 | Built Environment, Business of Construction, Cash Flow (Getting Paid), Financial Management and Risk, Financial Management and Risk, Risk Management, Weekly Construction Message

The state-of-the-art in construction accounting has advanced over the years but continues to be an area of great concern. One of the most difficult and misunderstood processes in the construction business is capturing all the data accurately and in a timely fashion...

Management of Working Capital

Jul 24, 2025 | Built Environment, Business of Construction, Financial Management and Risk, Financial Management and Risk, Weekly Construction Message

The management of working capital in a construction company begins with a job-by-job cash flow plan. The individual cash flow plans are then consolidated into the monthly cash needs forecast. That forecast is revised regularly by the Chief Financial Officer as...

The Construction Cash Flow Dilemma

Jul 17, 2025 | Built Environment, Business Failure, Business Failure, Business of Construction, Cash Flow (Getting Paid), Financial Management and Risk, Financial Management and Risk, Leadership, Risk Management, Risk Management, Weekly Construction Message

Managing cash flow in a construction company is a daunting task. The unique nature of the construction transaction makes it almost impossible to match cash flowing in with cash flowing out. Low bid margins are often so tight they’re insufficient to maintain ongoing...