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
Giants 400 | Nov 14, 2023
Top 90 Justice Facility Architecture Firms for 2023
DLR Group, Stantec, HDR, HOK, and Elevatus Architecture top BD+C's ranking of the nation's largest justice facility architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report. Note: This ranking includes revenue from all public safety/justice facilities buildings work, including correctional facilities, fire stations, jails, police stations, and prisons.
Giants 400 | Nov 13, 2023
Top 65 Airport Facility Architecture Firms for 2023
Gensler, Corgan, PGAL, and HOK top BD+C's ranking of the nation's largest airport terminal and airport facilities architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report.
Data Centers | Nov 13, 2023
Data center sector trends for 2023-2024
Demand for more data centers is soaring, but delivery can be stymied by supply delays, manpower shortages, and NIMBYism.
Education Facilities | Nov 9, 2023
Oakland schools’ central kitchen cooks up lessons along with 30,000 meals daily
CAW Architects recently completed a facility for the Oakland, Calif., school district that feeds students and teaches them how to grow, harvest, and cook produce grown onsite. The production kitchen at the Unified School District Central Kitchen, Instructional Farm, and Education Center, (“The Center”) prepares and distributes about 30,000 meals a day for district schools lacking their own kitchens.
Laboratories | Nov 8, 2023
Boston’s FORUM building to support cutting-edge life sciences research and development
Global real estate companies Lendlease and Ivanhoé Cambridge recently announced the topping-out of FORUM, a nine-story, 350,000-sf life science building in Boston. Located in Boston Landing, a 15-acre mixed-use community, the $545 million project will achieve operational net zero carbon upon completion in 2024.
Retail Centers | Nov 7, 2023
Omnichannel experiences, mixed-use development among top retail design trends for 2023-2024
Retailer survival continues to hinge on retail design trends like blending online and in-person shopping and mixing retail with other building types, such as offices and residential.
Giants 400 | Nov 6, 2023
Top 110 Cultural Facility Architecture Firms for 2023
Populous, Gensler, HGA, DLR Group, and Quinn Evans top BD+C's ranking of the nation's largest cultural facilities sector architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report. Note: This ranking includes revenue from all cultural building sectors, including concert venues, art galleries, museums, performing arts centers, and public libraries.
Giants 400 | Nov 6, 2023
Top 170 Government Building Architecture Firms for 2023
Page Southerland Page, Gensler, Stantec, HOK, and Skidmore, Owings & Merrill top BD+C's ranking of the nation's largest government building sector architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report. Note: This ranking includes revenue from all government building sectors, including federal, state, local, military, and Veterans Affairs (VA) buildings.
Designers | Nov 6, 2023
DLR Group opens office in Nashville, Tenn.
DLR Group is expanding its presence in the Southeast with the opening of an office in downtown Nashville, Tenn.—a collaborative effort led by DLR Group Principals Matthew Gulsvig, AIA, LEED AP, and Randall Coy.
Healthcare Facilities | Nov 3, 2023
The University of Chicago Medicine is building its city’s first freestanding cancer center with inpatient and outpatient services
The University of Chicago Medicine (UChicago Medicine) is building Chicago’s first freestanding cancer center with inpatient and outpatient services. Aiming to bridge longstanding health disparities on Chicago’s South Side, the $815 million project will consolidate care and about 200 team members currently spread across at least five buildings. The new facility, which broke ground in September, is expected to open to patients in spring 2027.
