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August 19, 2005
What is a Contractor's Business?
Defining a contractor's business is a challenging exercise. There are so many different types of contractors and types of work. We are hard pressed to try to write a definite explanation without ignoring several segmens of the construction industry.
We observe over 100 market sectors in the construction industry. F.W. Dodge reports in its construction permit data 30-odd categories and that is just the type of projects. Multiply that by the all the different types of contractors. The old CSI classification methodology outlines 16 divisions of work. Each division typically has several construction firm types occupying each of those.
Regardless of the type of work and the type of projects, all contractors must perform the following.
What we see is that all contractors have to do the following.
1) Acquire Projects - estimating, pricing, bidding, marketing and selling.
2) Build Projects - project management, field management, material procurement, and labor productivity.
3) Keep Track - accounting, financial management, administration and tax reporting.
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Matt Stevens is a management consultant who works only with construction contractors. He can be reached at mstevens@stevensci.com His firm, Stevens Construction Institute assists contractors in working smarter, is located at stevensci.com
Posted by Matthew S. Stevens at August 19, 2005 02:30 AM
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Comments
more info
Posted by: andy at November 3, 2005 10:38 AM