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 7, 2013
First look: University of Utah's ‘teaching hospital for law’
The University of Utah broke ground on its cutting-edge College of Law building, which will facilitate new approaches to legal education based on more hands-on learning and skills training.
| Jun 7, 2013
First look: Austin breaks ground on 'light-filled' Central Library
The design scheme by Lake|Flato and Shepley Bulfinch incorporates reading "porches" and a light-filled, six-story atrium.
| Jun 5, 2013
Survey of AE firms shows profits, hiring on the rise
A recent survey of more than 40 Boston-area architecture and engineering companies by consulting firm DiCicco, Gulman & Company confirms continued growth in business volume.
| Jun 5, 2013
USGBC: Free LEED certification for projects in new markets
In an effort to accelerate sustainable development around the world, the U.S. Green Building Council is offering free LEED certification to the first projects to certify in the 112 countries where LEED has yet to take root.
| Jun 4, 2013
SOM research project examines viability of timber-framed skyscraper
In a report released today, Skidmore, Owings & Merrill discussed the results of the Timber Tower Research Project: an examination of whether a viable 400-ft, 42-story building could be created with timber framing. The structural type could reduce the carbon footprint of tall buildings by up to 75%.
| Jun 4, 2013
Notification reinvented: SimplexGrinnell introduces revolutionary family of intelligent notification appliances
Simplex TrueAlert ES uses addressable technology to improve protection, simplify installation and reduce operating costs.
| Jun 3, 2013
6 residential projects named 'best in housing design' by AIA
The Via Verde mixed-use development in Bronx, N.Y., and a student housing complex in Seattle are among the winners of AIA's 2013 Housing Awards.
| Jun 3, 2013
Trifecta of awards recognize Vision/Rubenstein campus, Bayer Healthcare HQ
When Vision Equities, LLC and Rubenstein Partners purchased the 200-acre former Alcatel-Lucent campus in Whippany a little more than two years ago, the partnership recognized the property’s potential to serve as a benchmark infill revitalization for the State of New Jersey.
| May 31, 2013
Nation's first retrofitted zero-energy building opens in California
The new training facility for IBEW/NECA is the first commercial building retrofit designed to meet the U.S. Department of Energy’s requirements for a net-zero energy building.
| May 30, 2013
The Make It Right squabble: ‘How many trees did you plant today?’
A debate has been raging in the blogosphere over the last few months about an article in The New Republic, “If You Build It, They Might Not Come,” in which staff writer Lydia DePillis took Brad Pitt’s Make It Right Foundation to task for botching its effort to revitalize the Lower Ninth Ward of New Orleans.