by Simplar | Jan 14, 2021 | Business Failure, Business Failure
INSIGHTS INTO THE RISK OF FAILURE If thatās 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 | Financial Management and Risk
DONāT SHOOT THE MESSENGER Subjects: finances, CFOs, accounting In our industry the accounting function is not given the status and significance it should have. In more than half of the construction failures I dealt with, the following scene played itself out over and...
by Simplar | Jan 14, 2021 | Succession Planning, Succession Planning
YOU Are the Company Subjects: What makes a company, successionĀ Ā āA closely held construction company is the sum and substance of its experience. All of that sum and substance resides in its peopleā.Ā (Dr. Thomas Schleifer) Think about that for a minute. Most of us...
by Simplar | Jan 14, 2021 | Business, Strategic & Project Planning
Too Much of a Good Thing Our construction industry is enjoying a robust rebound since the depths of the Great Recession, (2009-2012). Residential, commercial, industrial, public and private sectors are all participating, and the future looks pretty good. When the...
by Simplar | Jan 14, 2021 | Risk Management
Subject: the role of sureties You Canāt be a Surety So Learn to Act Like One Ā Thirty years of accumulated study as a contractor, work-out specialist, consultant, and research professor have verified the following realities about risk in the construction industry:...
by Simplar | Jan 14, 2021 | Risk Management, Risk Management
Risk EncounterĀ Project riskĀ in construction is defined in basic terms asĀ unplanned cost or schedule changes that crop up during a construction project.Ā Unplanned cost and schedule changesĀ are ubiquitous in construction and have led to a universally negative...
