From the category archives: Business

Business

Managing Growth: Why Some Contractors Succeed and Others Fail

Controlled growth is the key to long-term success. Contractors should avoid having too many new areas of focus in their business plans, such as taking on a new type of work within a new geographic territory and adding new, untested people.

Executive Insights: Surety Bonding

Twenty-one top surety experts discuss the bonding implications of joint ventures, how safety impacts bonding, efforts to increase diversity in the industry, and the market intelligence surety professionals can offer their clients.

EB-5 Investments: An Alternative Source of Real Estate Capital

As a necessity to survival during the global economic downturn, many developers have looked to non-traditional sources of capital to finance their projects, including investments by foreign individuals under the EB-5 Program.

A Natural Alliance

The predicted shortage of skilled craft professionals is not unique to the United States. In addition to the roughly two million workers needed stateside by 2017, at least 300,000 more will be needed in Canada during the next decade. Can something be done to help solve the workforce crisis on both fronts? That’s part of the mission of the CAN-AM Merit Alliance, formally established in February 2014 with the signing of a joint resolution by Associated Builders and Contractors (ABC) and Merit Canada.

Differences Between a Surety’s and an Owner’s Prequalification Process

  With so many resources available to project owners—and with the primary emphasis on contractor prequalification through a reputable surety—contractor default mitigation becomes a manageable process, which greatly enhances the chance of successful project completion. 

Claims Management: A Problem-Solving Approach

Contractors that leverage their existing skills in identifying and mitigating risks, and that take steps to proactively and thoughtfully manage claims, will minimize their claim-related costs and optimize claim outcomes.

The Executive’s Role in Business Development

A solid business development process can make the difference between  stagnancy and growth. But too often, leadership’s main instruction to the business development team is “go get more work” without much direction on how, where or why.

Eight Ways to Improve Surety

As a result of the construction recession, many contractors are feeling the pinch from their surety company and it’s affecting their balance sheet. Every job is scrutinized and subject to intense questioning, which leads to slower approvals. Profit margins have decreased, bid lists are long, private work is minimal and the credit markets aren’t loaning money. Now, more than ever, it’s imperative that contractors do everything in their power to build or maintain their surety relationship.

Bidding on Public Works Jobs in California Just Got More Expensive

Doing business in California got a little tougher this summer with Gov. Jerry Brown’s approval of S.B. 854—a law requiring all contractors planning to bid on future public works jobs in the state to register with the California Department of Industrial Relations (DIR) and pay an annual registration fee that will be deposited into the newly created State Public Works Enforcement Fund.

Workforce Development Assessment Tool Now Available

NCCER and the Construction Users Roundtable (CURT) collaborated to create the Contractors Workforce Development Assessment (CWDA), a new online tool intended to motivate contractors and subcontractors to invest in training their existing workforces and improve their recruiting capabilities.

 

Three Contract Options for Differing Site Conditions
The only limit the parties have in drafting a site conditions provision contract...

Stay Ahead of the Contractual Curve
Construction is a risky business and so is predicting the future. Looking forward...

Construction’s Cybersecurity Challenge
In today’s evolving information technology world, addressing security risks...

A Small Team With a Big Heart for Service
“While it may not be large amounts of monetary donations, we are often called...

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