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
| Mar 28, 2012
40 Under 40, the Class of 2012
Chosen from 223 applicants, these 40 young AEC professionals represent the Class of 2012 in Building Design+Construction’s “40 UNDER 40” competition.
| Mar 28, 2012
Milestone reached for LEED-certified buildings?
Total number of major global green buildings now stands at 12,000.
| Mar 28, 2012
Holden Cancer Center opens at University of Iowa Hospitals and Clinics
The new cancer clinic provides a significant increase in patient space from the prior facility, which was located in an adjacent building.
| Mar 28, 2012
Meridian Design Build Begins work on 38 acre redevelopment project
The project includes construction of a new 150,585-sf cross dock facility that will include full service truck maintenance and repair bays, a truck wash, and approximately 20,000-sf of corporate office space.
| Mar 28, 2012
Tsoi/Kobis & Associates developing master plan for UT Southwestern Medical Center
Firm will spearhead strategies for transforming existing in-patient hospital into state-of-the-art ambulatory care facility.
| Mar 28, 2012
Ideas and input drive stories in online community, noraXchange
Community designed to help building and design professionals address challenges they face in their jobs.
| Mar 27, 2012
Bank of America Plaza becomes Atlanta's priciest repo
Repo will help reset market prices for real estate, and the eventual new owner will likely set rental rates at a new or near the bottom and improve the facilities to lure tenants.
| Mar 27, 2012
Skanska hires aviation construction expert Bob Postma
Postma will manage Skanska’s nationwide in-house team of airport construction experts who lead the industry in building and renovating airport facilities and their essential features.
| Mar 27, 2012
Precast concrete used for affordable, sustainable housing in New York
Largest affordable housing development in the nation will provide housing for close to 500,000 people.
| Mar 27, 2012
Groundbreaking held for Valencia College West Campus Building 10 in Orlando
Project led by design-build team of SchenkelShultz Architecture and McCree General Contractors, both of Orlando.