Please I need a serious person in the construction industry to contact for a serious discussion on performance and incentives
From Ghana, Accra
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From Ghana, Accra
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Dear member,
Whether you are from the construction industry or otherwise, and whether you are discussing with a senior or a junior, the important factor to be considered is whether you have measured the costs and ratios associated with your business or not. I say so because the incentives are based on performance, and to analyze the performance holistically, it is important to take a 360-degree view of the measurement.
Therefore, before having a discussion, I strongly recommend having an audit of the various measures. This will bring out any loopholes in your measurement process. The discussion with the senior can very well follow thereafter.
My recommendation is based on my exposure to various industries due to my training and consulting activities. In a large number of companies, business performance is measured superficially. For example, a procurement professional might have worked in the purchasing department for years or even for decades but might not know the formula to calculate the Inventory Turnover Ratio (ITR). Neither does the company take interest in introducing the measurement of this vital ratio.
If you are from the construction industry, then your company must be handling construction projects. In that case, have you identified the applicable ratios, irrespective of the types of projects and project-specific costs and ratios? If you could identify that, it will become easier for you to compare similar projects that might come in the future. For further clarification, if needed, you can talk to me.
Thanks,
Dinesh Divekar
From India, Bangalore
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8219Whether you are from the construction industry or otherwise, and whether you are discussing with a senior or a junior, the important factor to be considered is whether you have measured the costs and ratios associated with your business or not. I say so because the incentives are based on performance, and to analyze the performance holistically, it is important to take a 360-degree view of the measurement.
Therefore, before having a discussion, I strongly recommend having an audit of the various measures. This will bring out any loopholes in your measurement process. The discussion with the senior can very well follow thereafter.
My recommendation is based on my exposure to various industries due to my training and consulting activities. In a large number of companies, business performance is measured superficially. For example, a procurement professional might have worked in the purchasing department for years or even for decades but might not know the formula to calculate the Inventory Turnover Ratio (ITR). Neither does the company take interest in introducing the measurement of this vital ratio.
If you are from the construction industry, then your company must be handling construction projects. In that case, have you identified the applicable ratios, irrespective of the types of projects and project-specific costs and ratios? If you could identify that, it will become easier for you to compare similar projects that might come in the future. For further clarification, if needed, you can talk to me.
Thanks,
Dinesh Divekar
From India, Bangalore
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