How extended payment terms hurt innovation
An interesting piece of research on how extended payment terms affect suppliers. The authors find that small firms forced to accept extended payment terms … Read more
Dealing with difficult vendors
Fortunately, truly difficult and opportunistic vendors are rare. But we have all had the experience of the vendor who knows you depend on them … Read more
“I have a bad feeling about this…” – Why experience matters
Jumping to conclusions is efficient if the conclusions are likely to to be correct and the costs of an occasional mistake acceptable, and if … Read more
Getting the right incentives into construction management agreements
Poorly-designed incentives may encourage a contractor to behave in unexpected and unpleasant ways. And construction management is a form of contract that is especially … Read more
Feeding stray cats: Should you support a contractor in financial distress?
You know what it’s like to have a hungry stray cat begging at the back door. You try to ignore it. You hope it will … Read more
Creating local content opportunities in major projects
With careful planning and management, you can not only find and grow capable small and medium-sized enterprises (SMEs), but also give them real opportunities … Read more