by Simplar | Oct 26, 2023 | Business Failure, Business Failure, Cash Flow (Getting Paid), Weekly Construction Message
The process of estimating and preparing bids is one of our most essential management tasks, including direct and indirect costs. Professional estimators have a detailed knowledge of construction materials, specifications, techniques, codes, and pricing trends as they...
by Simplar | Sep 21, 2023 | Business Failure, Business Failure, Risk Management, Risk Management, Risk Management, Weekly Construction Message
If you say “contracting” to anyone they immediately think of “construction”. The “building” industry has become identified with the signing of a contract at the point of sale. “Builders” have become “contractors” in the eyes of the public. This misidentification has...
by Simplar | Sep 20, 2023 | Business Failure, Business Failure, Financial Management and Risk, Financial Management and Risk, Financial Management and Risk, Partnering, Planning, PM, Weekly Construction Message
Risk Mitigation Thomas C Schleifer, Ph.D. Thirty-five years ago, I initiated research that resulted in ranking construction contracting #2 in business failure rate (restaurants are #1). That data inspired me to begin ongoing research into the causes of construction...
by Simplar | Jan 14, 2021 | Business Failure, Business Failure
INSIGHTS INTO THE RISK OF FAILURE If that’s all it takes to succeed in the construction business is a pickup truck, a box of tools, a cast-iron stomach, and a forgiving wife, why do so many contractors fail? Check next to the causes listed below that you believe most...
by Simplar | Jan 14, 2021 | Business Failure, Business Failure
The Big Dig No discussion of the failure rate of megaprojects would be complete without a careful look at Boston’s Big Dig, the largest and most challenging highway project in the history of the United States. Few megaprojects have been accused by so many of taking...
by Simplar | Jan 14, 2021 | Business Failure
Bad Beliefs The Root of All Evil It took me 30 years of research to get to the hidden root cause of construction business failures: Bad management decisions are caused by firmly held bad beliefs. Beliefs In other words, whether we are aware of it or not, every...
