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.
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Companies need to pay attention to broader economic trends and other data issues when determining pay in today’s highly competitive environment.
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Regardless of market conditions, having the right level of liquidity is a crucial aspect of successful risk management for contractors.
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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.
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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.
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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.
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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.
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A focus on team productivity and unity will provide sustainable short- and long-term success.
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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.
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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.
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