Do you have a leading operations program? No matter how profitable your company, you can always improve your operations to make sure you’re ready for good times and downturns. In this article, FMI’s Gregg Schoppman details some of the reasons why you need to pay attention to your operations now.
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Depending on which direction the economic recovery moves in, here’s what E&C firms can do now to prepare for the future, including compensation planning.
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I think that after you read the 2018 “New Day, New Mindset– Rethinking Offsite Construction” Owner Survey that FMI, CURT and CII have put together, you will take away some powerful themes that jumped into my consciousness.
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It’s been widely reported that the construction industry is increasingly challenged by a labor shortage. Construction business owners – faced with rising labor costs, quality issues and expanding project schedules – have seemingly few options.
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Many of our clients are cautiously optimistic—if not even bullish—on the U.S. engineering and construction industry going into 2017. Favorable general economic conditions, a high level of consumer confidence and the potential for tax reform and increased federal spending all promise to keep the industry on track for yet another positive year.
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While design and construction functions are becoming increasingly complex and require ever-more specialization, the disciplines’ segregated silos are crumbling, creating space for integrated systems thinking; new manufacturing techniques; and innovative business models, to name a few.
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They say that construction and engineering are male-dominated fields, but is that really the whole story? To answer that question, we believe that leaders must look well beyond counts of employees from different demographic groups and gain holistic views of their organizations. For example, diversity metrics include measures that capture the characteristics of the workforce (e.g., the percentage […]
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Much has been written about millennials and how they differ from previous generations in their approach to work – and careers in general. Indeed, we see millennials often unfairly saddled with the dubious reputation for being entitled, disloyal, self-centered or optimistic go-getters, but it turns out that they are actually not that different from their older work colleagues.
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Any principal of a construction firm will tell you that cash is king. There is little room for error when it comes to feeding the cash cycle. Why not apply the same focus and fervor to collecting the monies that are owed to your company as you do to installing the building components for which you bill?
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Trade contractors live and die by their ability to estimate, manage and project labor costs. In most construction firms, few things are as misunderstood or as poorly managed as accurate projections of costs to complete (CTC)—particularly when it comes to understanding how to estimate the remaining labor costs on a labor-intensive project.
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