by Simplar | Mar 13, 2025 | Built Environment, Business of Construction, Risk Management, Risk Management
If risk recognition and assessment is so fundamental to the construction transaction, why do so few contractors engage in formal risk management? This is a question I have been asking myself for 30 years. To begin with contractors are Type A risk takers or they...
by Simplar | Mar 6, 2025 | Built Environment, Business of Construction, Financial Management and Risk, Risk Management, Risk Management
Financial risk is embedded in the nature of construction transactions. Project risk management begins during project selection. Signing a legally enforceable performance contract, for a complexity of services, to be delivered over an extended period, is a high-risk...
by Simplar | Feb 28, 2025 | Built Environment, Business of Construction, Financial Management and Risk, Financial Management and Risk, Risk Management, Risk Management, Weekly Construction Message
Recognizing and assessing financial risks before you sign a construction contract is not an exercise you can ignore. Let’s take a quick look at how a regional contractor uses last week’s Probability and Impact Matrix in everyday business. Risk Factors...
by Simplar | Feb 8, 2024 | Business Failure, Business, Strategic & Project Planning, Weekly Construction Message
This year we have been examining the reality that our beliefs impact our business decision making. From the very beginning as children, we lay down little truths in our brain stem that never again come up for examination. This is how the human brain helps the race...
by Simplar | Oct 19, 2023 | Business of Construction, Project Delivery, Risk Management, Risk Management, Weekly Construction Message
The two major risk factors built into contracting: 1) Chronic under-capitalization 2) Highly complex transaction Chronic Under Capitalization Every contractor I have worked with over these past 40 years has been plagued by cash flow problems at one time or another....
