by Simplar | Jan 14, 2021 | Risk Management
Subject: the role of sureties You Can’t be a Surety So Learn to Act Like One 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 Encounter Project risk in construction is defined in basic terms as unplanned cost or schedule changes that crop up during a construction project. Unplanned cost and schedule changes are ubiquitous in construction and have led to a universally negative...
by Simplar | Jan 14, 2021 | Equipment Management, Equipment Management
Subject: Purchase price vs real price This $250,000 Dozer Is Not FREE I was looking for holes. As a salvage expert working for sureties who were exposed to enormous losses by sudden contractor failure, I was completing jobs across the country and at the same time...
by Simplar | Jan 14, 2021 | Business, Strategic & Project Planning, Business, Strategic and Project Planning, Business, Strategic and Project Planning
Best Value Construction’s Six Sigma In the 1980s, 37% of all construction projects reported major defects. 37%!!! No manufacturing company would survive a 37% defect rate. By the 1990s, the construction industry suffered 33% of construction projects over budget and...
by Simplar | Jan 14, 2021 | Business Failure
“How did you go Bankrupt?” “Two Ways…gradually…then suddenly.” (The Sun Also Rises, Ernest Hemingway) Subject: financial planning Ernest Hemingway, apparently knew more about business failure than some executives, scholars, and politicians gathered around the recent...
by Simplar | Jan 14, 2021 | Financial Management and Risk
The Flash Report Last week I highlighted the critical day-to-day usefulness of liquidity ratios in alerting a CEO that he might be flirting with financial difficulty. Today I would like to back up and take a look at the bigger picture – the CFO’s critical role...
