The owners and managers of construction businesses start learning these when navigating the initial stages of growth and as their business model starts evolving into more specialized functions. Too frequently, miscommunication happens simply because of lack of clarity around the very words being used to communicate.
Our objective with this series is to create an overview of the most important impactful definitions, acronyms, metrics, and phrases for contractors.
- Not all of them will be applicable to every contractor.
- Not all of them are applicable at every stage of growth.
- Not all of them are applicable for every team member.
- Most are broader industry-wide definitions.
- Some are specific to DBM and how we work with clients.
- Some have multiple definitions and we are defining them more specifically for use in a growing contractor.
- We are not trying to duplicate comprehensive resources like Lean Lexicon by John Shook and the Lean Enterprise Institute or "The Book" from the Construction Financial Management Association (CFMA) focused on a specific discipline.
If there are definitions that you think would be valuable for us to add to this resource or if you have specific questions about application to your business, please contact us. We will share freely anything we have learned that will help your business continue to grow.