Paths of succession test families and partners

Article Abstract:

The handing over of power within construction companies requires careful forward planning, regardless of whether the firm is a public company, a family firm or a partnership. Forward planning is essential so that the right person is chosen for the job and to allow for a reasonable handover period. Contractor Taylor Woodrow will take some 10 months before it announces the successor to its current chief executive Tony Palmer, due to retire in mid-1997. In family firms, choosing a successor must be carried out with sensitivity, while partnerships have the extra responsibility of requiring substantial investment from new recruits.

Building, Developing, and General Contracting, Contract Construction, Management, Partnership, Partnerships, Construction contracts, Family-owned business enterprises, Family-owned businesses

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All for one and one for all

Article Abstract:

Construction of the UK Millennium Dome in London was undertaken by a consortium of designers, builders and engineers, all of who had agreed to sign contracts which enabled them to work as a team rather than individual units. The structure of the contract meant all budget changes and disagreements involving time scales were dealt with equally as a group, enabling problems to be sorted out quickly and painlessly. All parties involved in the construction process came under the core group name of the New Millennium Experience Company.

Contracts, New Millenniumm Experience Company

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