Anonymous
Please I need a serious person in the construction industry to contact for a serious discussion on performance and incentives
From Ghana, Accra
Dear member,

Whether you are from the construction industry or otherwise, 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 the performance, and to analyse 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 loopholes if any, in your measurement process. The discussion with the senior can very well follow thereafter.

My recommendation is based on my exposure to the various industries because of 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 he/she might not know the formula to calculate Inventory Turnover Ratio (ITR). Neither the company takes interest to introduce the measurement of this vital ratio.

If you are from the construction industry, then your company must be handling the construction projects. In that case, have you identified the ratios applicable, irrespective of the types of projects and project-specific costs and ratios? If you could identify that, then it will become easier for you to compare similar projects that might come in the future. For further clarification, if any, you can talk to me.

Thanks,

Dinesh Divekar

From India, Bangalore

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