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
Industry Research | Nov 8, 2022
U.S. metros take the lead in decarbonizing their built environments
A new JLL report evaluates the goals and actions of 18 cities.
Hotel Facilities | Nov 8, 2022
6 hotel design trends for 2022-2023
Personalization of the hotel guest experience shapes new construction and renovation, say architects and construction experts in this sector.
Green | Nov 8, 2022
USGBC and IWBI will develop dual certification pathways for LEED and WELL
The U.S. Green Building Council (USGBC) and the International WELL Building Institute (IWBI) will expand their strategic partnership to develop dual certification pathways for LEED and WELL.
Reconstruction & Renovation | Nov 8, 2022
Renovation work outpaces new construction for first time in two decades
Renovations of older buildings in U.S. cities recently hit a record high as reflected in architecture firm billings, according to the American Institute of Architects (AIA).
Sponsored | Steel Buildings | Nov 7, 2022
Steel structures offer faster path to climate benefits
Faster delivery of buildings isn’t always associated with sustainability benefits or long-term value, but things are changing. An instructive case is in the development of steel structures that not only allow speedier erection times, but also can reduce embodied carbon and create durable, highly resilient building approaches.
Building Team | Nov 7, 2022
U.S. commercial buildings decreased energy use intensity from 2012 to 2018
The recently released 2018 Commercial Buildings Energy Consumption Survey (CBECS) by the U.S. Energy Information Administration found that the total floorspace in commercial buildings has increased but energy consumption has not, compared with the last survey analyzing the landscape in 2012.
Sports and Recreational Facilities | Nov 7, 2022
Gilbane, Turner, Populous tapped to design and build new Buffalo Bills stadium
The joint venture of Gilbane Building Company and Turner Construction Company, in association with 34 Group, has been selected to provide construction management of the planned new NFL stadium for the Buffalo Bills in Orchard Park, N.Y. The project team also includes the project management firm, Legends Project Development, and Populous as the designer.
| Nov 7, 2022
Mixed-use tower in China features world’s highest outdoor pool
Guangxi China Resources Tower, a new 403-meter-tall (1,322 feet) skyscraper in Nanning, China features the world’s highest outdoor pool—at 323 meters (1,060 feet) above grade.
Building Team | Nov 3, 2022
More than half of U.S. contractors say finding skilled workers is big barrier to their growth
More than half of U.S. contractors (55%) say finding enough skilled workers is one of the biggest barriers to growing their business, according to a DEWALT Powering the Future Survey.
Building Materials | Nov 2, 2022
Design for Freedom: Ending slavery and child labor in the global building materials sector
Sharon Prince, Founder and CEO of Grace Farms and Design for Freedom, discusses DFF's report on slavery and enforced child labor in building products and materials.
