Construction MBA Practical Approaches to Construction Contracting

ISBN-10: 0071763252
ISBN-13: 9780071763257
Edition: 2012
Authors: Matt Stevens
List price: $76.00 Buy it from $35.92 Rent it from $32.82
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Description: This unique resource teaches you everything you need to know about construction that isn’t covered in business school.The Construction MBA: Practical Approaches to Construction Contractingclearly outlines how to manage the multiple processes that  More...

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Book details

List price: $76.00
Copyright year: 2012
Publisher: McGraw-Hill Professional Publishing
Publication date: 6/13/2012
Binding: Paperback
Pages: 512
Size: 7.25" wide x 9.00" long x 1.25" tall
Weight: 2.090
Language: English

This unique resource teaches you everything you need to know about construction that isn’t covered in business school.The Construction MBA: Practical Approaches to Construction Contractingclearly outlines how to manage the multiple processes that must work simultaneously to make a construction company consistently profitable. It contains proven methods that, if implemented, will make a construction firm virtually resistant to recessions and client and employee problems. Presenting a buttoned-down approach to construction contracting, this practical guide provides real-world solutions that can be applied in any construction business.The Construction MBAfeatures:Proven strategies to limit time invested while maximizing profits and client satisfactionSuccessful methods for acquiring profitable workCharts, tables, and bulleted lists that clearly lay out the "How To's" of effective organizational managementComplete coverage:The New Business Model; Corporate Objectives and Strategies; Work Acquisition; Operations Management; Human Resources; Financial Management; Technology; Best Practices; Case Studies

Matt Stevens is a freelance illustrator. He lives with his wife, daughter, and two pugs in Connecticut. For more information, please visit mattstevensart.com.

Preface
The New Business Model
What Has Changed in the Construction Industry over the Last Four Decades?
What We Know
Some Parts of the Construction Business Remain Unchanged
Volume-Based, Fixed-Cost Business
Volume-Sensitive, Variable-Cost Business
Part of the New Approach: The Quantitative Method
The First Quantitative Model of Construction Contracting
The New Business Model of Construction Contracting
Profile of a Profitable Contractor in This Millennium
Two Sources of Personal Wealth for the Contractor
Summary
Corporate Objectives and Strategies
The Owner's Goals Are Primary
The Learning Curve
Strategic Planning for Construction Businesses
Vision/Mission: How You Want to Be Seen and How to Get There
Construction Compared with Manufacturing
Strategic Planning to Change the Market
The Cold Hard Strategic Truth
Summary
Work Acquisition
Win Three Times to Win One Project
Selecting the Right Work
Market Analysis
Marketing versus Selling
Marketing
Common Marketing Rules for Contractors
Comparing Market Share and Profits: A Quantitative Method for Marketing and Selling
Selling
Common Errors in Selling
Estimating Cost and Proposing Price
Bidding: The Price Proposal Process
Pressures to Be Low Bidder
Using Job Sizing to Consider Establishing a Small Projects Division
Bid Conditioning
A Critical Consideration: When Should Cost Savings Be Reflected in Bids?
Beware of Questionable Procurement Procedures to Win Bids
Be Proactive for Better Procedures in Procurement
Annual Job Cost Budgeting
Alignment of the Work Acquisition and Field Staffs
The Importance of Forward-Thinking Measurements
Measuring Work Acquisition Success
Use Past Performance to Make Adjustments for Future Work
Summary
Operations Management
What Is the Current Status of the Industry? Construction Productivity Is at a 15-Year Low
The Basic Process to Better Operations Management
Proven Principles
Construction Business Planning Is Critical
Taking the Lean Approach to Construction Contracting
Creation and Implementation of Quality-Lean-Processes
Processes That Consistently Deliver Results
Management Load Balancing
Management: A Short Course
Planning, Forecasting, and Scheduling
Managing a Construction Firm in a Down Economy
Firing Your Worst Client to Improve Your Risk Profile
Summary
Human Resources
The Key Role of the Human Resources Manager
Self-Actualization Motivates More Than Money
Knowing Yourself Well Is Critical to Management and Leadership
Personality Assessment
Leadership/Management Assessment
Time Management Essentials
Teaching and Mentoring: Investment with Hard-Core Results
New Employee Orientation and Continuing Education
Leader-Manager: New Definition of Leadership in Construction Contracting
Four Habits of Highly Effective Construction Managers
Managing Yourself Better
The Most Important College Class Not Taught
Compelling Reasons to Manage Labor Well
Beginning the Learning Curve in College
You Are the Chief Morale Officer
Best Organizational Structure for Optimal Use of Human Resources
The Age of Less Delegation
Proactive Management
Multiple Delegation by Electronic Means
Managing the Latest Generation
Recruiting Tips
Advice to Young Construction Professionals
Summary
Financial Management
The Cost of Doing Business
Tracking Revenue and Costs
Accounting versus Financial Management
Financial Management of Individual Projects: Job Cost Reporting
Financial Statement
Rate of Return Measures
What Is a Reasonable ROI to Expect?
Additional Financial Indicators: Critical Metrics to Compute
If Limited to One Indicator, Which Financial Ratio Would I Choose?
Overhead Management
Retention Management
Budgeting
Keep a Cushion of Funds in Your Account
Smart Billing and Collection Practices
Typical Financial Trouble Spots for a Construction Firm
How Financial Policies Affect Your Construction Business
Increasing Employees' Awareness of Key Financial Data
DuPont Analysis
Ours Is a Recession-Resistant Industry
Ways to Weather Down Economic Times
What to Do with Profits? Remember the Rule of 72
Summary
Technology
Reticence about Adopting Technology
First Things First
Technology to Have and Master
Emerging Trends
Virtual Construction
Measuring the ROI of Your Technology Investment
Compelling Business Reasons to Invest in Technology
Summary
Good Operating Practices
Risk versus Reward
Characteristics of Superior Projects
Strategic Actions and Operational Methods Make Up Good Operating Practices
The Indices
Strategic Value Index for Construction Contractors
WorkSmart Leverage Analysis
Good Operating Practices Research Using WorkSmart Leverage Analysis
Summary
Summary and Conclusions
Case Studies
Digest of Additional Management Insights
Great Management Books and How They Apply to Construction Contracting
Management Parables
Bibliography
Index

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