With the goal of preventing COVID-19 transmission, adhere to quarantine rules and deal with “stay at home” guidelines, construction organizations have experienced a myriad of scenarios. Ranging from being deemed “essential” and seeing no construction stoppages to seeing projects shuttered and halted with no restart in sight, firms are now confronted with the dubious task of establishing normalcy amidst a taking control of their business future. It is imperative that leaders focus on both their strategic health as well as refocusing/restarting their projects in the New Normal.

In the same vein that the work came to a screeching halt, the restart of construction projects worldwide will have the same frenetic pace as fervor of activity as the New York City Marathon when the “starting gun goes off.” Similarly, construction businesses hope for a quick refocus of the world economy to regain some of the momentum that they began 2020. Ideally, construction leaders would like to see a seamless transition to simply “continuing where they left off.” Realistically, even if the restart occurred just seven days after a work stoppage, both corporate activity and project operations would not resume normal function due to everything from supply chain disruptions to new hygiene-related work rules. Construction firms and projects will resemble the trajectory of a super tanker in the ocean trying to turn rather than a high-performance sports car cornering on a dime.

Learning Objectives

• Understand the ramifications of the Post-COVID-19 world on construction organizations
• Review the strategic imperatives that all business leaders should address as part of their business plan and strategic plan
• Understand the impact to the supply chain and conduct collaborative conversations to drive action and results
• Review cash flow, billings and costs to determine the fiscal results of COVID-19 on projects and work in progress
• Examine and reflect on important considerations related to workforces, delays, protocols and the ever-important “Project Exit Strategy”
• Formulate a winning response to the New Normal to aid your business in the recovery and restart

Credits: 1 DBIA CEU

Presenter:
Gregg Schoppman
Principal and Florida Consulting Manager
FMI Corporation

There is no cost to participate, but space is limited.

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