Managing Construction 5

Question 1

Planning is critical to a contractor. Planning must occur at two levels:

Answer 1

a. Business

b. Project

Question 2

A Business Plan is a contractor’s roadmap at the BEGINNING of his firm’s business. It is critical to:

Answer 2

keep wasted time and adverse situations to a minimum. If you don’t have a plan, you don’t have a business, you have a job.

Question 3

These are the areas of benefit and risk that a plan should focus on:

Answer 3

1. Labor management and/or cost management
2. Cash flow
3. Overhead and profit margin
4. Revenue
5. Your market
6. Tools/Equipment needed
7. Personnel
8. Office location
9. Administration

Question 4

A plan is never final, it is:

Answer 4

a LIVING THING. It should be revised regularly.

Question 5

If you had to choose one thing to focus on ABOVE ALL OTHERS, it should be:

Answer 5

THE CREATION OF YOUR PLAN.