FMI, the largest provider of management consulting and investment banking to the engineering and construction industry, releases its newest study "Adjust, Adapt, Act: Winning Stories From the Post-2007 Construction Industry."
The paper explores several case studies, including Sun Country Builders, Huen, BakerTriangle, Consigli, Skender Construction and Flatiron, and distills the key factors that make these companies unique and successful. The article also summarizes thoughts and insight from senior FMI strategy experts on success strategies that have become crucial in running a profitable construction business, as well as common mistakes, which can lead to failure in today's cutthroat environment.
Select success strategies discussed in the paper include:
- Get into the heads of your clients – early
- Reinvent yourself and innovate. Find what makes you unique
- Be smart about diversifying your portfolio
- Be nimble and flexible, yet disciplined. Never get complacent
- Understand "incremental economics" – revenue, margin, overhead – more than ever
- Bring creative financing solutions to the table
- Build contingency plans into all corporate strategy discussions and never stop looking ahead.
Key highlights include:
- Case studies on successful companies
- Business imperatives for a volatile economy – thoughts and insight from FMI consultants and study participants
- Common mistakes – summary of most frequent strategic mistakes witnessed by FMI consultants
- Conclusion and recommendations
To download a copy of the full report, click here. For reprint permission or to schedule an interview with the author, please contact Sarah Vizard at 919.785.9221. BD+C
Related Stories
| Jan 15, 2015
Construction materials prices fall in November
Construction input prices dipped 1.4% during the final month of 2014 and are down nearly 1% on a year-over-year basis, according to the Jan. 15 producer price index release from the U.S. Department of Labor.
| Jan 15, 2015
Libeskind unveils 'zig zag' plan for recreational center near Vilnius ski area
Perched on the highest peak between Vilnius' historic quarter and downtown, the Vilnius Beacon will be a hub for visiting skiers and outdoor enthusiasts.
| Jan 15, 2015
Illustrations capture essence of Aalto, Ando, Hadid, Foster, and other famous architects [slideshow]
The illustrations are Federico Babina's abstract interpretations of the styles of famous architects, from Frank Lloyd Wright to Bjarke Ingels.
| Jan 14, 2015
10 change management practices that can ease workplace moves
No matter the level of complexity, workplace change can be a challenge for your client's employees. VOA's Angie Lee breaks down the process of moving offices as efficiently as possible, from creating a "change team" to hosting hard-hat tours.
| Jan 13, 2015
Steven Holl unveils design for $450 million redevelopment of Houston's Museum of Fine Arts
Holl designed the campus’ north side to be a pedestrian-centered cultural hub on a lively landscape with ample underground parking.
| Jan 12, 2015
23 projects win AIA's highest architecture award
Bjarke Ingels' Danish Maritime Museum and William Rawn's Cambridge Public Library are among the winning projects.
| Jan 9, 2015
Santiago Calatrava talks with BBC about St. Nicholas Church on Ground Zero
Calatrava reveals that he wanted to retain the “tiny home” feel of the original church building that was destroyed with the twin towers on 9/11.
| Jan 9, 2015
Nonresidential construction hiring surges in December 2014
The U.S. construction industry added 48,000 jobs in December, including 22,800 jobs in nonresidential construction, according to the Bureau of Labor Statistics preliminary estimate released Jan. 9.
| Jan 9, 2015
10 surprising lessons Perkins+Will has learned about workplace projects
P+W's Janice Barnes shares some of most unexpected lessons from her firm's work on office design projects, including the importance of post-occupancy evaluations and having a cohesive transition strategy for workers.
| Jan 9, 2015
Technology and media tenants, not financial companies, fill up One World Trade Center
The financial sector has almost no presence in the new tower, with creative and media companies, such as magazine publisher Conde Nast, dominating the vast majority of leased space.
