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Decision Tree Analysis

Decision Tree Analysis

Decision tree analysis is not a scientific way to make decisions but rather a visual representation of the decision-making process that goes on inside the head of decision makers. At first, a decision tree appears as a tree-like structure or graph with different nodes...
2025 to 2026

2025 to 2026

Even as the New Year has dawned, I offer these final thoughts on the year just passed. If I could sum up this past year’s dialogue into one overall theme I would say, “Managing a construction business is a completely different activity from managing a...
Budgeting vs. Forecasting

Budgeting vs. Forecasting

In my experience, construction firms do not operate under firm budget disciplines like most other industrial concerns. Contractors usually craft project budgets in advance but rarely use them as a management tool. Because of the complexity and variability of each...