• Three Key Ingredients of an Accurate Cost-to-Complete Estimate

    Posted on May 20, 2016 by FMI Corporation

    Trade contractors live and die by their ability to estimate, manage and project labor costs. In most construction firms, few things are as misunderstood or as poorly managed as accurate projections of costs to complete (CTC)—particularly when it comes to understanding how to estimate the remaining labor costs on a labor-intensive project. Unfortunately, project managers don’t always understand what goes into a solid CTC estimate. On bid day, for example, estimators are expected to accurately determine how much labor cost will be required to complete an entire project with less than adequate plans and specs, absolutely no history of completed work on the current project, and a limited amount of time. Like any good recipe, failure to include one or more of the important ingredients will produce a less than desirable result. Since labor is the big wild card in the cost-to-complete estimate, the following ingredients will focus on the labor portion of this process.

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    This post was posted in Uncategorized and was tagged with construction industry, NRCI 2014 Q2, cost-to-complete estimate, cost-to-complete, project labor costs, estimate costs

  • America's Energy Transformation: Petrochemical Manufacturing's 21st Century Renaissance

    Posted on April 21, 2015 by FMI Corporation

    GasPiplelines119744231Based on exciting trends for the petrochemical production community, the opportunities for firms in the industrial construction segment are especially ATTRACTIVE for the next several years. For the past several years, many eyes have been on the shale gas revolution in the United States. As U.S. oil and gas production has expanded exponentially, the attention has been on the impact on consumer markets, particularly such as natural gas for heating or oil and its attendant price impacts on gasoline at the pump. And while many have predicted a resurgence in U.S. manufacturing driven by cheap energy prices, the fact is that the needed investment in manufacturing facilities here has, for the most part, not been as significant or as quick as we might have hoped.

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    This post was posted in Uncategorized

  • Is Copy-and-Paste Compliance Enough?

    Posted on December 10, 2014 by FMI Corporation

    OilPipelines145194686_ModAn issue that is becoming an ever-increasing challenge in the oil and gas industry is subcontractors qualification. Up to this point in time, contractors have become extremely reliant upon technology and/or contractor management platforms for qualifying subcontractors, essentially “subcontracting” out the qualification process while retaining all of the risk. The industry needs a deeper understanding of risk, and that necessitates looking at the issue through a different lens.

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    This post was posted in Uncategorized, Consulting and was tagged with Scott Duncan, Oil and Gas Infrastructure Valuations, Offensive Risk Management Strategy, Millennials

  • Developing Your Personal Social Media Strategy

    Posted on October 16, 2014 by FMI Corporation

    People160106351The Internet has given individuals the power to create their own personal brand. We now have the opportunity to create a virtual version of “you” – where your work, your interests, and your personal life become your brand that can grow through social media. Social media strategies no longer speak solely to businesses; they speak to the individual as well.

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    This post was posted in Uncategorized and was tagged with Business development, social media, Exit Strategy

  • Why Strategy Matters in the Oil and Gas Industry

    Posted on October 6, 2014 by FMI Corporation

    AA048987What separates great companies that can consistently achieve high performance over a long period of time from those that rise and fall year to year? One thing is the depth of thinking company leaders put into planning for the future of their company. Your company’s strategy is the collection of decisions you make about how you will achieve your vision for the company over the long term. It includes answers to a few very basic questions. Among them are where the company will compete (geography, business segments, client types, etc.) and how you will compete (services, scopes, differentiators, etc.). If you can gain clarity on these two questions and use them as guidelines in all of your other business decisions, you will be able to consistently outperform your peers.

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    This post was posted in Uncategorized, Consulting and was tagged with Business development, Scott Duncan, Social Media Strategy, Paternity Leave

  • Information Technology Drives Demand Side Management Program Improvements

    Posted on July 16, 2014 by FMI Corporation

    PeopleiStock_000017304116MediumWith the growing need for more electricity, gas and water due to population growth, increases in energy/water demand per capita, changing economic dynamics and other factors, utilities across the globe are facing decisions to either build more infrastructure or reduce demand (or at least slow the rate of demand growth). Reducing demand for a resource (e.g., creating “negawatts”) without degrading – and often improving – the result (e.g., light, heat, computing power, etc.) often costs less than creating more of the resource. Furthermore, in many cases utilizing existing resources efficiently and effectively is the only viable option for immediate results. One proven way that utilities can efficiently reduce demand is by effectively designing and implementing utility-sponsored demand side management (DSM) programs.

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    This post was posted in Uncategorized

  • Game On: Going On the Offensive Through Mergers and Sales

    Posted on June 30, 2014 by Sabine Hoover

    DisputeAcquisitions and sales have a role to play in times of robust growth and periods of crippling contraction alike. Tectonic shifts in the wider environment create new demands for architectural, engineering and construction (A/E/C) firms, and acquisitions have always been a means to create a sustainable competitive advantage in a short time. However, a transaction is not a sure-fire success story: Inadequate due diligence, a flawed understanding of company culture or an ambiguous post-integration strategy can all derail large investments.

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    This post was posted in Uncategorized

  • 10 Key Success Strategies from the Post-2007 Construction Industry

    Posted on June 18, 2014 by FMI Corporation

    iPad132000899Since the economic downturn hit the construction industry, many companies have taken a deep look at themselves, re-evaluating their services, clients and markets as well as their vision and strategic goals. As a result, companies have started to redefine themselves, looking at new and innovative ways to deliver projects, interact with clients and pursue work. Select companies have been very successful at making these decisions and are emerging from the recession as lean, innovative and very competitive players. Below, we have identified ten best practices from these firms.

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    This post was posted in Uncategorized, Center for Strategic Leadership, Talent Development

  • FMI and Habitat for Humanity: Changing Lives Building Homes

    Posted on June 3, 2014 by FMI Corporation

    Last FridHFH_2014_Team Photo 1ay, FMI's Denver office got the "day off, to give back" to the Denver community.  What better way to give back then focusing on what we know best? Construction.  That being said, a group of FMI employees got together and volunteered locally through Habitat for Humanity. We asked Matthew Marshall, FMI's group leader, some questions about his experience.  Matthew has been a volunteer for Habitat for Humanity for quite some years now and has organized the outing for the FMI team in Denver this year.

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    This post was posted in Uncategorized

  • FMI’s Blog

    Posted on January 7, 2011 by FMI Corporation

    Welcome to FMI's blog. We intend to use this forum to share our knowledge and insights on important issues affecting A/E/C firms. We will be looking to you to share your experiences, best practices and challenges. What is keeping you up at night? What successes have you had in the last couple of years? We look forward to some lively discussions!

    This post was posted in Uncategorized and was tagged with FMI blog, FMI Corp., construction industry blog, A/E/C blog

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