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    Construction MBA Practical Approaches to Construction Contracting

    ISBN-10: 0071763252
    ISBN-13: 9780071763257
    Author(s): Matt Stevens
    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...
    List price: $70.00
    Buy it from: $59.42

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    List Price: $70.00
    Publisher: McGraw-Hill Professional Publishing
    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

    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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