As the world’s economy emerges from pandemic slumber, I’m hearing familiar rumblings from the contractors I talk to every day. Keep in mind that the construction market is not back yet.

The Chatter

“Material inflation is killing me. The contracts I sign today will end up costing me money tomorrow.”

… Read the rest

Best-In-Class CFO #2 – The Planning Function

Jun 8, 2021 | Business, Strategic and Project Planning, Leadership, Weekly Construction Message

Our search for “Best-in-Class” management of construction businesses has led us to the CFO’s door.

Experience completing failed projects for sureties led me into extensive research about why so many construction companies unexpectedly failed, leaving their unfinished work to the surety. The common belief in the industry was (and still … Read the rest “Best-In-Class CFO #2 – The Planning Function”

Getting the Work: The CFO’s Role

Jun 2, 2021 | Business Development, Business Development, Business Development, Business, Strategic and Project Planning, Leadership, Leadership, Leadership, Weekly Construction Message

My overview of the construction industry breaks down the management function into three broad categories: 1. Getting the work 2. Doing the work 3. Accounting for the work. The Chief Financial Officer’s (CFO’s) role in “Accounting for the work” is self-evident, but his or her contribution to “Getting the work” … Read the rest “Getting the Work: The CFO’s Role”

A Deeper Dive: The Science of Accounting

May 25, 2021 | Business Development, Business Development, Leadership, Leadership, Leadership, Weekly Construction Message

Engineering is a science and contractors tend to think like scientists. Tangible, measurable metrics speak to us contractors. Opinions, feelings, and guesses get less attention. Some construction professionals think that construction industry academics like myself don’t roll up their sleeves, put on a hard hat, and get their hands dirty … Read the rest “A Deeper Dive: The Science of Accounting”

In Search of Excellence: The CFO

May 12, 2021 | Business Development, Business Development, Leadership, Leadership, Weekly Construction Message

This year we are going from top to bottom in our review of construction’s “best-in-class” management practices. We began at the traditional top of business organizations, the Board of Directors (Advisors). Because the construction industry is largely made up of “closely held” corporations, the board of director’s functions (control and … Read the rest “In Search of Excellence: The CFO”