Making Decisions Effectively

Contractors must invest in accelerating the development of leadership talent and a big part of leadership is about making the right decisions in difficult situations.

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The impact of the critical talent shortage in construction will continue to get worse.

Reading List: Learn How to Make Decisions Effectively. Book: Principles by Ray Dalio.

Principles by Ray Dalio is not only a great book but more importantly is the example of how it was created, how it is used, how it is refined (PDCA - Plan > Do > Check > Adjust) weekly and how it is formatted.

Every leader of a construction company should consider not only which of these principles apply to their business but more importantly how to start codifying then training others on their own decision making processes.  

What would it be worth for your company if you could accelerate the development of your leadership talent?

If you are nearing retirement age what would it be worth to the industry if you could unlock the decades of experience in your head?  

We provide a full range of management advisory, coaching and training services to contractors.  More than half of our time is directly spend on talent including preparing for succession at all levels. 

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Talent Development Quote - Jack Welch
From 1981 through 2001 under CEO Jack Welch, GE’s market cap (value) grew 18% compounded annually from $14B to $410B. A large part of this profitable growth was due to the rigor placed on their talent development processes directly from the CEO.
Higher Scores Aren’t Always Better: Percent Planned Complete (PPC) Example
Construction is full of competitive personalities - where more is always better. But that isn't always true. When setting targets, be careful that your goals don't have unintended consequences. Percent Planned Complete (PPC) shows why.
Collections and Retention Trend Metric
Assuming that a contractor’s project team has done an effective job of aggressively billing the project, the biggest variable that remains for cash flow is the effectiveness of collections.