Executive Summary There exists an insurance product to mitigate the risk associated with catastrophic failure of a construction company. It’s called Project Loss Insurance. Tell me more about this insurance. Project Loss Insurance (PLI) is a product that covers financial loss to a contractor for losses associated with: Bad estimates […]
Debt: You Need It
Executive Summary Debt, at least in the American construction business, is helpful when it comes to growth. Here’s a couple reasons why. What is debt? When money is borrowed and then must be paid back, that money which must be paid back is called debt. On your business financials this […]
Going “Legit”: Lose the Brown Paper Bag
Executive Summary If you’ve been running the accounts receivable and accounts payable out of a brown paper bag and want to go “legit”, here are the first steps. The Background Perhaps you have a successful and operating company – you have for a year or twenty years. But each time […]
Scott Jennings, P.E.: Subject Matter Expert
Scott Jennings, P.E.: Subject Matter Expert Mr. Jennings has decades of experience in the construction industry, from contractor to executive. Below are publications that have asked Mr. Jennings to provide his experienced-based insight on industry topics. Forecasting with Confidence – How Contractors Can Solve Four Common Challenges Breaking Down Data […]
Better the Devil You Know
Executive summary. Many folks make changes based on temporary pains. More often than not, better the devil you know that the devil you don’t. The problem. It happens with a girlfriend, a new service provider, or a material supplier. You’ve been in this relationship for some time and the performance has been less than desired, […]
If Cash is King, Time’s the Queen
Executive Summary. Time for any business is critical, perhaps more so in construction than many other industries. The role of time and its effect on a contractor are discussed here. Cash is king. Most construction companies have seen times when cash has been tight. If you can’t manage cash, it’s a […]
Time, an Owner’s Achille’s Heel
Executive Summary. Discussed here, by a contractor, is arguably the #1 area of recommended improvement for infrastructure owners with fiduciary responsibility. The area in need of improvement: response time to construction issues. Where does time cost an owner money? The number one place time costs an owner money is in response time. […]
The Importance of Construction Cost Estimating for Civil Engineers
In episode 066 of The Civil Engineering Podcast, Anthony Fasano talks with Scott Jennings, P.E. principal of SJ Construction Consulting, LLC about the importance of cost estimating for civil engineers. Here are some of the questions asked of Scott: Can you walk us through the process of putting together a construction […]
Fraud: Stop Thinking it won’t Happen to You
Executive Summary Fraud is a real risk to businesses and most do not realize they’ve become a victim until it’s too late. There are simple controls to put in place to help prevent it, or perhaps bring it to your attention. Learn preventative measures and examples of embezzlement techniques. “No, […]
Owner Paralysis – i.e. Vapor Lock
Executive Summary: When a tragic event happens, even the roughest and tumble executives can suffer from decisional paralysis. I don’t mean physical paralysis in your body, I mean the inability to make a decision. You’re not alone. Who you are. You are the father of two beautiful little girls, the […]