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Opportunity to Succeed
Risk management begins with recognition, proceeds to evaluation, and ends with a detailed mitigation plan. This analytical process should begin at the project selection stage. After a contract is signed and a project is underway, if there is a negative impact from the...
Be the Head Coach
Construction is a risky business. Diving from the springboard of project selection into the deep end of the risk pool immerses the contractor in a virtual ocean of risk factors. Like Football games, project financial risk can only be effectively managed before...
Death By Ice Machine
Construction is a risky business. A wide variety of risk factors are piled one on another throughout the construction transaction making it almost impossible to manage all construction business risks. Building long term complex projects for a fixed price under the...
The Project Selection Program
The most crucial element in construction profitability is selecting the appropriate project. It is not "cutting the payroll" or "speeding up the work" or "stretching the concrete", or "reducing a bid". It is not "bargaining with subs" or "negotiating with material...
Catch 22
Top line growth represents survival to a lot of contractors. Without regularly signing new contracts most contractors would go out of business in short order. Growth isn't just an important thing, to some contractors, growth is the only thing. Every existing contract...
Growth Is Always Good
We begin this week with the first "belief" on last week's list - "Growth is always good ". The complex nature of the construction industry seems to lend credence to this belief. Since a construction business does not enjoy a "continuum" of business, contractors must...
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