FMI Quarterly

2022 Q2

How to Win the Big Talent Race: Tactics and Strategies

Featured Article: Employee Stock Ownership Plans: An Effective Recruiting and Retention Strategy

The built environment offers tangible payoffs for those who do the work: world-class projects and feats of engineering. Success within the space is tied to a sense of shared ownership with employees feeling they have buy-in and a say in the decision-making process. ESOPs are a great means to an end, […]

Industry Trends Shaping E&C Ownership Transitions

Handing over an organization’s reins to the next generation and transitioning ownership are never easy processes. For optimal results, the ownership transfer and management succession (OTMS) approach starts with identifying, selecting and developing key associates; ensuring that leadership roles […]

Megaprojects: How Great Leaders Can Be the Difference Between Success and Failure

Discover what differentiates a great leader of a large project from an average one and how your organization can help people develop critical competencies.

Preconstruction: The Foundation in Operational Excellence

To be operationally superior, E&C firms need to develop and implement preconstruction processes that will create a defined game plan before people show up to a job site. Being organized helps retain talent, win business, improve productivity and increase profits.

Trading on Excellence: The Value of Talented Field Leaders

When engineering and construction (E&C) firms think about leadership development, the focus naturally goes to C-suite and business development teams. While those managers are a critical part of a firm’s ultimate success, companies often neglect to develop on-site leaders who are ensuring projects […]

2022 Q1

Strategies for Navigating Volatile Times

Featured Article: Compounding Competitive Advantage: The Integration of Strategy, Project Selection and Execution Framework

Being selective about what projects you take is becoming a business imperative in today’s market. Engineering and construction firms need to have superior execution that aligns with clear strategies to increase their competitive advantages.

Why Contractors Need to Understand Embodied Carbon

Carbon accounting isn’t required on all projects yet, but there are major incentives for early adopters.

Don’t Risk Poor Cash Management Due to Lack of Strategy

Regardless of market conditions, having the right level of liquidity is a crucial aspect of successful risk management for contractors.

Engineering and Construction Compensation: What Executives Need to Know

Companies need to pay attention to broader economic trends and other data issues when determining pay in today’s highly competitive environment.

2021 Q4

Recalibrating Your Operations For 2022

Featured Article: Project Selection Discipline Yields Better Performance Outcomes

The statistical risk of taking on a bad job increases with the size and number of projects. Sophisticated project selectivity controls can help manage this risk and make balanced, objective pursuit decisions.

How Strategic Investments in Your Talent Drive Operational Excellence

A focus on team productivity and unity will provide sustainable short- and long-term success.

Supply Chain Disruption: Is Now the Time for Contractors to Warehouse or Carry Inventory?

Purchasing and holding long-lead inventory of construction materials can provide advantages for certain projects or customers, but also brings with it carrying costs, increased risk and other considerations for your business.

Planning Compensation in a Dynamic E&C Environment

By carefully evaluating jobs and employees, E&C companies are better positioned to meet operational needs and address talent requirements among a workforce that can afford to be demanding.

Anything But Typical: Managing Subcontractor Default Risk in Today’s Environment

As the pandemic continues to disrupt supply chains and cause inflationary pressure on the engineering and construction industry, we talk to four large subcontractor default insurance carriers about the events of the last two years, key trends and what’s next in 2022.

2021 Q3

Capitalize on Engineering & Construction Momentum to Succeed in 2022

Featured Article: Wanted: New Leadership Competencies for Managing Megaprojects

Large complex projects—those valued at $1 billion or more—are gaining momentum across the U.S., causing new and unanticipated challenges for project teams.

The Path to Environmental, Social and Governance Goals Runs Through the Built Environment

There’s no one solution to the environmental and social challenges that we face, but many in the built environment across the infrastructure value chain are looking for ways to improve their environmental, social and governance (ESG) impact.

Supply Chain Disruptions: What You Need to Know

Global supply-chain disruptions have disrupted the engineering and construction industry, with all eyes now watching the horizon. A boom is underway, but firms can't get enough of the materials they need in hand, nor can they find the staff to build once they do have supplies.

Are You Ready for the Post-COVID Boom?

Here are four key trends that are shaping the built environment and helping engineering and construction firms reposition and prepare for a post-COVID expansion.

2021 Q2

Positioning Your Engineering and Construction Organizations for Long-Term Success

Featured Article: Culture Through the Pandemic: Challenges and Opportunities

A year into the COVID-19 pandemic, the country is beginning to open back up.

Bringing Employees to the Table: Using Compensation to Achieve Successful Ownership Transfer

How can owners ensure business continuity when they’re ready to relinquish ownership and management responsibilities?

State of Play: Why the HVACR Market Is Ripe for Consolidation

If you explore the landscape for mergers and acquisitions (M&A) for contractors, the mechanical, electrical and plumbing (MEP) sectors have always represented a vibrant component of the built environment for transactions.

Preparing Your Organization for the Long Term

It’s time to embrace what matters and ignore what doesn’t. As we move into the second quarter of 2021, there’s reason to be cautiously optimistic about what lies ahead.

Ownership Transfer and Management Succession: Positioning Your Organization for Long-Term Success

Here are 10 questions all E&C firms should be asking themselves as they either reinvent existing ownership transfer and management succession plans or develop brand-new ones.

Stop Treating Symptoms: Tips for Successfully Implementing Construction Technology

Technology has become a critical capability in construction operations, and as we look to get more out of that investment, we have to tackle issues and opportunities by considering all aspects of innovation, including people, process and information.

2021 Q1

Emerge Stronger and Better: The Great Reset in 2021

This is quite an ambitious theme and goal for the first quarter of 2021, yet, now is the time to evaluate your plans and strategies to make sure you're ready to take advantage of opportunities.

Featured Article: Leading Construction Innovation and Agility in 2021

As design and construction executives navigate through 2021, many are reaching the same conclusion: The more things change, the more the leadership fundamentals remain the same.

A New Era of Work: Recognizing and Rewarding Remote Employees

Addressing common concerns about working from home now and supporting employees through the current disruption will improve trust, reduce worker turnover and build teams that are invested in your organization’s future.

Don’t Wait: Craft A Winning Strategy Now

This isn’t the time to ignore the operating environment and hope everything gets better soon. Instead, start strategizing now for the future.

How to Prepare for a Changing Infrastructure Market

With 2021 infrastructure investment likely to remain the same as 2020, companies need to prepare for fewer opportunities for growth and increased competition.

Time to Focus: Competing to Win in the Building Products Industry

COVID-19 continues to alter the building products industry. The firms that will thrive in 2021 are turning their attention to setting strategic plans and executing on what differentiates them from the competition.

2020 Q4

2021 and Beyond: Why Operational Excellence Matters

2020 has been incredibly difficult due to the pandemic, economic recession and many other COVID-19-related disruptions to everyday life and commerce.

Featured Article: Get Lean and Mean: Preparing for 2021 and Beyond

What does increased competition mean for your business? How will you become more competitive?

Four Ways to Optimize Talent in Uncertain Times

Tips for effectively assessing your current labor pool, making the necessary adjustments and preparing for future success.

Selling your E&C Company During COVID-19

A look at COVID’s impact on engineering and construction M&A and what could be around the corner in 2021 and 2022.

The Silver Lining of Construction Productivity and COVID-19

An examination of the new normal COVID-19 productivity factor.

Why Focusing on Your Company Vision Still Matters

Watching, waiting and ignoring changes until the COVID-19 pandemic is over isn’t going to work. Here’s why.

2020 Q3

Reset and Respond: Leading Through COVID-19 and the Next Normal

This issue of the FMI Quarterly aims to help leaders and managers understand, contextualize and arm themselves with useful tools and new ways of thinking during this time of extraordinary change.

Featured Article: How to Develop an Effective Strategic Decision-Making Framework

Companies that avoid a nearsighted view and take a holistic view of new market opportunities will be best positioned to succeed in 2021 and beyond.

Agile Leadership: Five Capabilities Needed in the Post-COVID-19 Era

Learn from industry leaders on how you can start building agility today to position your company effectively for future “black swan” events like the global pandemic.

Fleet Management Dynamics in a Post-Pandemic World

Following best practices in fleet management can mitigate key challenges and create a competitive advantage for companies that maintain a high level of fleet performance.

How to Win in an Uncertain Heavy Civil Construction Market

How heavy and highway construction contractors can use good insights, facts and forecasting tools to pave the way to future success (in any market conditions).

Ownership and Succession Planning During and After the Storm

Building momentum for effective ownership transfer and management succession both during and after the crisis.

Playing to Win: How to Drive Growth Through Differentiation

Differentiation is all about value, which represents those things that a customer is willing to pay a bit more for.

Strategies for Strengthening Resilience in a VUCA World

The business environment can change overnight, presenting daunting, unanticipated challenges as well as genuine opportunities for those who have prepared for the unexpected.

2020 Q2

COVID-19 Collection: FMI Insights and Solutions

By now, the operating plan and budget you opened the year with have been scrapped. Unexpected, but appropriate. The top of this business cycle, the longest expansion in U.S. history, vanished over a weekend in early March. Ninety days on, the global economy is in steep decline and dragging the Built Environment down with it.

Featured Article: What Is Your Company’s Post-COVID-19 Liquidity Strategy?

As the smoke begins to clear on the global pandemic, liquidity management will be a business imperative for the foreseeable future.

Building an Agile Organization to Thrive in Uncertain Times

One electrical construction and automation services provider used its agile business strategy to break through the barriers during coronavirus pandemic and prepare for the next disruption.

Case Study: Adopting a Proactive Mindset During a Crisis

How one E&C company decided to grab the global pandemic by the horns instead of waiting around for it to impact its operations.

Jump-starting E&C Projects After COVID-19: What You Need to Know

Key strategies that E&C companies can use to proactively restart projects that were impacted by COVID-19.

Learning How to Adjust and Adapt in a Post-COVID-19 Construction World

Paving a path forward for suspended and resumed projects.

The Changing Game of Strategy

Why E&C companies need to approach strategy differently in times of heightened uncertainty and volatility.

The Role of Construction Technology in COVID-19 Recovery

How E&C firms can leverage technology to support their strategic and operational objectives.

Turning the Great Recession into a Learning Experience

Here are five solid lessons taken from the Great Recession that all E&C firms can be using right now to navigate the complexities of the current marketplace.

What Is Your Company’s Post-COVID-19 Liquidity Strategy?

As the smoke begins to clear on the global pandemic, liquidity management will be a business imperative for the foreseeable future.

2020 Q1

Top 10 Hits from the Past Decade

In our first Quarterly edition of 2020, you’ll find our top ten articles of the past decade. Most of these topics are still relevant in today’s E&C business environment and cover a broad range of industry issues. Authors also provide updated introductions to their articles and describe how and why their articles are still relevant for today’s business leaders.

Featured Article: Why Large Contractors Fail – A Fresh Perspective

It’s been nearly 200 years since French educator and writer Jean-Baptiste Alphonse Karr uttered the epigram, “the more things change, the more they stay the same”; but those words still hold true today. The question is, is history repeating itself, albeit on a larger scale.

A Blueprint for Risk Management in Construction

Define risk management in construction, and what would your answer be?

AI: Engineering and Construction Firms Are Watching Early Adopters

Artificial intelligence in construction was just in its infancy when this article was published. The technology remains in very early stages and is expected to continue to evolve for years to come.

Four Cornerstones of an Adaptive Strategy for E&C Companies

In a world and industry where the pace of change is growing exponentially, this article is a timeless reminder of how the management teams of best-in-class companies should be creating and implementing their strategies.

Four Steps to a Winning Divestment Strategy

Consolidation in the construction industry has steadily increased over the past 10 years. In the utility construction segment, we’ve seen the market capitalization of the top 10 public companies grow by 65% over the past decade.

Health and Wellness: The Next Disruption in Sustainable Building Design

Every year we see increasing attention paid to sustainable building design—and with good reason.

How to Turn Big Data Into A Strategic Business Advantage

How E&C firms can take their huge data sets and transform them into usable, actionable intelligence that improves competitive advantage, enhances efficiencies and supports high levels of productivity.

Strategy in a Time of Industry Disruption

This article was written in response to the rise of venture capital focused on construction technology and disruptive startups, such as Katerra. In it, by examining case studies from other industries, we explored how industry disruption was unfolding.

The Continuity Mindset: Managing Succession for Lasting Organizational Success

Transitioning a business to a new generation of leaders, no matter what decade you are in, has always been a multifaceted, emotional and intricate process—one that is easy to put off due to the anxiety it can generate.

The Maturing Construction Technology M&A Environment

Construction technology investment and overall mergers and acquisitions (M&A) activity are stronger than ever.