Too big to fail? No such thing! Even the largest, most sophisticated companies make decisions that can cause them pain and loss. Smart contractors learn from their missteps and swiftly make appropriate changes.
Tune into Digging Deeper this week as Dennis shares the two main reasons construction companies suffer financial loss and presents you with measures you can adopt to mitigate bad jobs.
We look forward to hearing your thoughts. Please share with us in the comments below.
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Dennis-
You raise some very valid points in your blog today and having a sound “Go/No Go” pursuit strategy is the first step in bad project avoidance. There is a fine line between stepping out of your comfort zone to pursue projects which increase your diversification versus tackling projects which a firm has no experience or knowledge in that respective arena. Too many times contractors sign up for projects they have no business pursuing, whether it is for a notoriously bad owner, difficult geographic conditions, scheduling constraints or a host of other variables. Regardless, contractors sign up for these risks everyday, which then requires the inevitable task of mitigating risks during construction and correcting issues sooner, rather than later to minimize the potential damages.
As always Dennis, Great Subject and insight for those who may not subscribe to staying close to what they know and are good at…
Thanks, Danny.
Dennis