Access Dr. Schleifer’s Manual of Construction Practices, Glossary of Suretyship, Project Selection Process, and more!
Every organization can improve performance. Advancing a construction organization towards world class performance requires accurate identification of the organization’s strengths and weaknesses. Decades of research lead to this do-it-yourself diagnostic tool that provides the equivalence of an independent expert evaluation of every aspect of your business. Research suggests that most managers understand construction methods better than the multi-layered business side of the business and the complicated interdependent relationships between marketing, production and accounting. This tool will provide you with a comprehensive insight into the complex functional areas of your business. Once identified, most contractors have little difficulty correcting potential limitations or compensating for them. Identifying strengths and weaknesses is the bigger issue.
The project selection tool provides an accurate measurement of project selection risk based upon what is known or not known about a potential project at a given point in time, and how well the project matches the firm’s experience.
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The RScore measurement is the result of extensive research by Dr. Tom Schleifer. It is a single formula that determines whether a construction company’s financial condition is improving or deteriorating, and to what degree. Unlike any single ratio discussed here, this formula consists of a combination of interrelated financial and organizational performance indicators. Simply stated, this indicator measures the ability of a company to produce its work at a profit while effectively utilizing its financial resources (essentially keeping debt low in relation to equity). The RScore—and, of course, the company’s actual risk—increases when the company’s ability to earn a profit is diminished, or when their financial structure becomes more highly leveraged.
Dr. Schleifer has worked in Construction for more than 50 years, and has accumulated an astonishing amount of knowledge about the inner workings of the industry. Over the past years, he has compiled all of his knowledge about the business side of the business of construction, and created a Manual of Construction Practices.
Suretyship is a discipline demanding an interdisciplinary approach. Accounting, banking, law, insurance, reinsurance, government, and, in some instances, engineering, architecture, and construction all meet on common ground, a bond or contract of suretyship; and, each must be considered as important as the others.
We, Construction Management Associates, Inc., have searched for a glossary of suretyship, comprehensive, yet with simple, clear, readable definitions. We have not found such a glossary; therefore, we decided to write one. Construction Management Associates, a surety consultant with years of experience, was well-suited to meet the challenge.
We trust that we have produced a book of value, of utility. We are proud of and satisfied with the glossary; however, we will continue to update, expand and improve this work. Hindsight has a certain clarity; we hope that our foresight will as well.
Thomas C. Schleifer
Take control of your construction contracting business and manage it through the natural highs and lows of the construction market.
Learn from a team of construction business veterans led by Thomas C. Schleifer, who is commonly referred to as a construction business “turnaround” expert due to the number of construction companies he has rescued from financial distress. His financial acumen, combined with his practical, hands-on experience, has made him a sought-after private consultant. His experience and no-nonsense philosophy have truly given him a unique perspective.
Important topics covered include:
- Understanding the primary areas of construction business failure in the next decade
- Minimizing business risk with real-world examples
- Developing a positive and competent management attitude and strategy
Discover how to maneuver through this complicated and risky industry by using the authors’ research and proven success strategies to sustain and grow your business
Common Construction Abbreviations and Symbols
The construction industry is full of acronyms, symbols, and abbreviations that vary between companies and workers. If you ever find yourself wondering what MEP, CMU, FFE, or UNO mean, explore this website here or here. For the most common construction symbols, look here