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
| Jun 30, 2014
San Antonio green lights multimodal transit center
The new 90,000-sf development will principally service San Antonio’s growing network of city bus and VIA PRIMO bus rapid transit service, including real-time arrival updates, as well as become an iconic public plaza for the city.
| Jun 30, 2014
Philip Johnson’s iconic World's Fair 'Tent of Tomorrow' to receive much needed restoration funding
A neglected Queens landmark that once reflected the "excitement and hopefulness" at the beginning of the Space Age may soon be restored.
| Jun 30, 2014
Research finds continued growth of design-build throughout United States
New research findings indicate that for the first time more than half of projects above $10 million are being completed through design-build project delivery.
| Jun 30, 2014
Narrow San Francisco lots to be developed into micro-units
As a solution to San Francisco’s density and low housing supply compared to demand, local firms Build Inc. and Macy Architecture each are to build micro-unit housing in a small parcel of land in Hayes Valley.
| Jun 30, 2014
Arup's vision of the future of rail: driverless trains, maintenance drones, and automatic freight delivery
In its Future of Rail 2050 report, Arup reveals a vision of the future of rail travel in light of trends such as urban population growth, climate change, and emerging technologies.
| Jun 30, 2014
4 design concepts that remake the urban farmer's market
The American Institute of Architects held a competition to solve the farmer's markets' biggest design dilemma: lightweight, bland canopies that although convenient, does not protect much from the elements.
| Jun 30, 2014
Harvard releases the State of the Nation’s Housing 2014
Although the housing industry saw notable increases in construction, home prices, and sales in 2013, household growth has yet to fully recover from the effects of the recession, according to a new Harvard University report.
| Jun 30, 2014
OMA's The Interlace honored as one of the world's most 'community-friendly' high-rises
The 1,040-unit apartment complex in Singapore has won the inaugural Urban Habitat award from the Council on Tall Buildings and Urban Habitat, which highlights projects that demonstrate a positive contribution to the surrounding environment.
| Jun 30, 2014
Work starts on Jean Nouvel-designed European Patent Office in the Netherlands [slideshow]
With around 80,000 sm and a budget of €205 million self-financed by the EPO, the complex will be one of the biggest office construction sites ever in the Netherlands.
| Jun 30, 2014
Growth of crowdfunding, public-private partnerships among top trends in architecture marketplace
A new report by the American Institute of Architects highlights several emerging trends in the architecture marketplace, including the growth of the P3 project delivery model and designing for health.
