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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Balancing Exploration and Exploitation
Exploitation involves choosing the best option based on current knowledge of the system which may be incomplete or misleading. Exploration involves testing new options that could lead to better future outcomes but drawing resources away from exploitation.
Resource - Gottman and the Science of Relationships
There is no relationship more intimate than that of life partners. Executive-level relationships, including business partnerships, share many similarities. The Gottmans have dedicated their lives to studying relationships, trust, and conflict resolution.
Lean Principle - Stop Work (Until Problems Are Corrected)
All construction projects will run into some degree of problems. It is how the project team chooses to manage these problems that ultimately determines the outcome of the project.