For construction companies, the only certainty seems to be uncertainty. Therefore, continuously monitoring the overall health and function of a construction company is prudent. Businesses must navigate external factors such as economic conditions, market fluctuations, and competition by putting into place robust internal strategies including addressing financial health, systemic efficiency, organizational structure, and workforce resilience.
Adopting continuous improvement begins with a focus on the vitals of your organization: operational excellence as evidenced by key performance indicators (KPIs) that are specific, measurable, achievable, relevant, and time-bound (SMART); amplifying your workforce; and backlog and project performance best practices.
Forvis Mazars is a proud principal partner of the Construction Financial Management Association (CFMA). This resource first appeared in its magazine, CFMA Building Profits, and was posted on forvismazars.us with permission. Our professionals at Forvis Mazars are regular contributors to this publication.