• Generic selectors
    Exact matches only
    Search in title
    Search in content
    Search in posts
    Search in pages
    FMI Quarterly
    Special Reports
    Industry Outlooks
    News
×
  • I'm here to...
  • Services
  • About Us
  • Generic selectors
    Exact matches only
    Search in title
    Search in content
    Search in posts
    Search in pages
    FMI Quarterly
    Special Reports
    Industry Outlooks
    News

Industry Focus. Powerful Results.

  • Generic selectors
    Exact matches only
    Search in title
    Search in content
    Search in posts
    Search in pages
    FMI Quarterly
    Special Reports
    Industry Outlooks
    News
×
  • I'm here to...
  • Services
  • About Us
  • Generic selectors
    Exact matches only
    Search in title
    Search in content
    Search in posts
    Search in pages
    FMI Quarterly
    Special Reports
    Industry Outlooks
    News

Industry Focus. Powerful Results.

News/May 6, 2011

FMI Releases Survey of Construction Industry Business Development Practices

Contractors Focus on Business Development to Compete in Tight Markets

RALEIGH, N.C., May 6, 2011 – FMI, the largest provider of management consulting and investment banking to the engineering and construction industry, announces the release of the FMI Special Report: Survey of Construction Industry Business Development Practices.

Despite encouraging signs that the economy is improving, new projects remain hard to find for contractors. In better times, the majority of contractors did not focus a great deal on business development, but that is changing as backlogs dwindle to historical lows and competition is tougher than ever.

In response to this heightened interest in business development, FMI decided to launch an intensive study of business development practices in the U.S. engineering and construction industry. Our aim was threefold: (1) To assess the extent of which the role of business development within the industry has increased ; (2) To gain a deep understanding of the most difficult problems associated with building a strong business development culture; and, most importantly, (3) To examine how successful contractors are overcoming these challenges.

Some of our findings include:

  • Seventy-three percent of contractors surveyed were spending more resources (either in the form of time or money) on business development now than they were prior to the economic downturn.
  • Only 62% of construction executives think their investments in business development are achieving the desired result.
  • Senior executives (84%) and company owners (72%) are spending more of their time on business development.
  • Estimating and/or operations functions are getting more involved in business development (62%).
  • Only 66% of owners and executives were satisfied with the level of oversight and control they had with business development efforts.
  • Only 7% of executives rated the quality of their company’s presentations as near excellent or excellent.

Log on to FMINet.com to download a complimentary copy of the full report: Survey of Construction Industry Business Development Practices

For more information about the report, please contact Sarah Vizard at 919.785.9221 or svizard@fminet.com.

Want to know more?