With this scoreboard contractors must keep everyone focused on the most important objectives that will improve their score.
3 MUST DO’s
- Delight Your Customers: You can formally measure this through a formal system like NPS (Net Promoter System) or just by measuring your repeat business. Few things are more profitable than doing negotiated work for a select group of customers who are growing.
- Make a Profit: Contracting is high-risk and must produce a good return. The changes coming up in the industry will demand major investments just to remain competitive. The capital for these comes from profitability.
- Generate Cash: Contracting is risky enough without providing free financing for the project owner. Do your processes and people consistently deliver projects with good cash flow?
3 SUPPORTING METRICS
- Sustainable Growth: If you aren’t growing you won’t attract or retain the best talent. If you are growing too fast or sporadically it will impact some or all of your other metrics.
- Safety: A truly great safety record can only be achieved with the right culture and that positively impacts every other metric.
- Succession at All Levels: Do you have a consistent pipeline of talent being recruiting and developed at all levels to support sustainable growth?