Construction technology can no longer be treated like a “Project” with a beginning, middle and end to the implementation. There are now hundreds of specialized technology tools that can be implemented by contractors and each add individual value. But the true value comes from integrating this technology together with effective workflows and the right team of people. Contractors build competitive advantages when they leverage technology and talent to integrate workflows across functional areas in their business. Ultimately the workflows can be integrated across multiple companies in the supply chain to unlock maximum value. Look at the example of a purchasing process and different levels of integration starting with relatively simple implementation through supply-chain integration: > Write a Purchase Order > Receive Material > Receive, Approve & Pay Invoice > Mobile Updates to Field on Materials + Mobile Receiving > Tie Purchase Order to Standard Parts Database With Pricing > Virtual Construction Modelers Receive Instant Feedback If a Long-Lead Item is Designed > Proposed Purchase Order or Release Created Automatically From VC Model > 2-Way Data Exchange With Suppliers for Pricing, Inventory, Ordering and Billing
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There are many "Strategic Possibilities" developed from "Strategic Brainstorming" that must be explored to make choices that will best position a contractor to win over the long-term. These "Strategic Decisions" must be made and integrated at all levels. #strategy #dbmteam
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The business of building is largely about aligning projects and people. The Talent Value Stream (TVS) ensures talent will never be a constraint to your growth. #businessplanning #talentvaluestream #dbmteam
Talent Value Stream (TVS): The Basics
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As a contractor navigates the different stages of growth, the complexity of their business model evolves, including their organizational structure, management systems, and people. Seeing this model visually helps identify bottlenecks and constraints. #businessmanagement #businessplanning #strategy #dbmteam
Contractors Business Model
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Every contractor will navigate very predictable stages of growth. Each of these represents about a tripling of headcount and requires different leadership focus, strategies, structures, and systems. Stress and failure points are also very predictable. #leadership #management #strategy #dbmteam
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Building projects requires technical expertise and resources. Building a construction business is about developing and aligning those capabilities with customers. Growth and time require different leadership focus, strategies, systems, and structure. #career #management #strategy #talent #dbmteam
The Business of Building
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Decision quality IS NOT linearly related to information quantity. In complex environments with elements of uncertainty, data quantity quickly reaches a point of diminishing returns but increases decision confidence which puts you into the danger zone. #businessmanagement #strategy #talent #dbmteam
Decision Quality and Information Quanity
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Defining what you want in quantifiable outcomes is extremely difficult. It's 10X harder to define those outcomes throughout the whole company from field to CEO. Defining the leading activities that create those outcomes is another 10X more difficult. #businessmanagement #metrics #dbmteam
Contractor Scoreboard - Disciplined Execution
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Outcomes are created through doing the right activities. Data is only a proxy for that activity and a metric is a synthesis of lots of data points. Metrics are valuable, but always have a skeptical view of proxies for performance - especially with growth. #businessmanagement #scoreboard #technology #dbmteam
Connecting Metrics to Activities and Outcomes
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There is a high correlation between contractors that have consistently GREAT safety records and consistently GREAT profitability, growth, morale and talent retention. #culture #safety #talent #dbmteam
Correlation Between Safety Culture and Profitability and Growth
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Director of Workforce Development at Corbins
5yYou have to spend money to make money!