The Alaska Contractor: Fall 2006

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BANKING & CONTRACTORS Solid management builds successful businesses As many in the industry know, building a successful construction business takes more than owning a pickup truck and a tool set. It takes skill, determination and the ability to manage supplies, people and fi nancial risk. According to a recent study by AGC, contractors cite management issues as one of the top fi ve reasons businesses fail. In a growing market, solid management skills give you an edge over the competition. In the banking industry, our goal is to help Alaska contractors and others in the construction business succeed. As a banker, I see every day how important management skills are in building a successful business. When it comes time to fi nance those in the construction industry, the numbers often show us just how strong the management team is. Many times we see how expensive inexperienced management can be. BY ELIZABETH HAPPEL The search for qualifi ed managers One issue faced by many Alaska contractors is a shortage of qualifi ed people to fi ll key positions. You’ve heard the old saying, “good help is hard to fi nd.” In this highly competitive industry inundated with new contractors and construction workers, fi nding someone with the right management skills may be diffi cult. Add in an aging generation of baby boomers and that task becomes even more diffi cult. The baby boomer generation accounts for 28 percent of the population. That means in the next fi ve years, more managers will be retiring and leaving openings for the next generation of contractors to step in. Education and experience Finding the right person or the best education to become a competent construction manager may soon be easier. Currently, the University of One issue faced by many Alaska contractors is a shortage of qualifi ed people to fi ll key positions. Alaska Anchorage offers only a twoyear associate degree program in Construction Management. However, the university is planning to start a fouryear program by the end of the year. Construction industry offi cials have already demonstrated their support for this important program. 66 The Alaska CONTRACTOR Fall 2006
The construction industry as well as other private businesses like First National Bank, have already raised more than $100,000 for the Bachelor of Science Construction Management Curriculum Development Fund. Continued support is needed to help the university develop the quality program demanded by industry needs in Alaska. According to the U.S. Department of Labor, attaining a construction management degree or certifi cation is a growing trend across the nation. For many, a degree ensures that a construction manager has the body of knowledge, abilities and experience to lead a successful team. It’s still important to keep in mind some of the most successful construc- It’s still important to keep in mind some of the most successful construction businesses across the state started with a hammer and a dream, not a college degree. tion businesses across the state started with a hammer and a dream, not a college degree. But being a skilled craftsperson does not necessarily equal being a successful businessperson. In the ever-changing and increasingly regulated construction fi eld, a degree is a great tool to see in the belt of prospective management employees or eager job candidates. No matter whom you hire or how you plan to build, the bottom line in today’s industry is the best contractors need to have the management skills to balance the books, estimate and bid jobs and track the progress of projects to completion. This will ensure everyone from apprentices to experienced contractors have a strong foundation for success. Elizabeth Happel is Vice President, Commercial Lending, at First National Bank Alaska. She can be reached at 777-5620. Fall 2006 The Alaska CONTRACTOR 67
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Associated General Contractors of A
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ANCH ABBOTT LOOP COMM PARK IMPROVEM
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CONSTRUCTION ACTIVITY $500,000,000
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EXECUTIVE DIRECTOR’S MESSAGE CIPF
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Member NEWScontinued W. W. GRAINGER
Page 18: SAFETY REPORT Who really drives saf
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Page 23 and 24: Political reality says a project la
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Page 35 and 36: tractors. Along with higher prices
Page 37 and 38: 2007 CAPITAL BUDGET Transportation
Page 39 and 40: “The governor had a lot of money
Page 41 and 42: ments from various clients from con
Page 43 and 44: The friend formed a company that ha
Page 45 and 46: For the past two and a half months,
Page 47 and 48: APPRENTICE PROGRAMS Earn while you
Page 49 and 50: Construction MANAGEMENT Established
Page 51 and 52: should get into the trades,” she
Page 53 and 54: Fall 2006 The Alaska CONTRACTOR 51
Page 55 and 56: The Anchorage Construction Academy
Page 57 and 58: Statewide need Given the steadily g
Page 59 and 60: 2) industry education and informati
Page 61 and 62: Whyte said NCCER is developing plan
Page 63 and 64: with have a smaller business feel.
Page 65 and 66: THE GOVERNOR CANDIDATES’ VIEWS ON
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Page 71 and 72: Muldoon Middle School, Anchorage BU
Page 75 and 76: Even so, the impacts on judicial de
Page 77 and 78: ed $81 billion in lost productivity
Page 79 and 80: Fairbanks PRIZE WINNERS AGC Golf Co
Page 81 and 82: First place winners with their “A
Page 83 and 84: Key Bank, N.A. Klondike Advertising
Page 88: BACK COVER
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