2023 presents unique challenges for anyone planning a civil construction or industrial project. In this post-COVID era, skilled labor is scarce; supply chains uncertain; and budgets tight. Successful partnerships help alleviate these challenges and deliver synergies that could not otherwise be achieved. Both parties realize mutual benefits including streamlined processes, cost savings and optimized effectiveness.
When considering a partnership, it is important to think beyond a single short-term initiative. A strategic partnership is potentially a long-term alliance that spans multiple projects. At the heart of a strategic partnership is a written agreement that specifies mutual goals, identifies shared risks and rewards, and establishes metrics for monitoring performance. It also requires transparent planning and fosters team-wide communication. By creating a collaborative working relationship, the client satisfaction is increased as the focus shifts from cost alone to delivering the best value for the customer.
Long-Term Relationship Essential
The long-term nature of a strategic partnership is essential to success. By leveraging resources across multiple projects, participants more efficiently allocate work between management and labor. Partners assign their most qualified, skilled labor when and where it is needed. This just-in-time scheduling not only eliminates work stoppages on plant maintenance projects, but also reduces crew down times. The result: lower project costs, fewer change orders, and shortened work schedules.
Strategic partnerships also foster innovation. Because participants have preestablished lines of communication, they can quickly hone their focus on the customer’s needs. Through all aspects of the project engineering, equipment procurement, fabrication, material logistics, labor and construction execution, these business teams work together to develop creative, out-of-the-box solutions to overcome complex challenges.
This efficient allocation of resources and increased innovation drives long-term growth and profit for the partners. It minimizes uncertainties, increases opportunities, and improves the success rate for all parties involved in the strategic partnership. It also is a selling point to potential clients, as an expert team and proven processes streamline the operation from concept to completion—often saving the client time and money.
Engineered Rigging Provides Expertise and Added Value
Engineered Rigging leverages strategic partnerships as part of our business strategy where we seek to create financial stability, reduce risk and develop new markets for growth. We currently partner with two major international equipment manufacturers, several south american crane & transport companies, some domestic sales organizations, regional general contractors, a power generation OEM and a variety of project engineering teams. Each enhances our overall revenue stream by supporting or generating pass through sales and service opportunities. It’s these types of partnerships that help our team to focus on what we do well while expanding our capabilities and project reach. We strategically look for groups who complement our industry expertise, support our sales or rental services, expand our geographical reach, offer synergistic project equipment and especially teams who share similar business philosophies with proven success.
Manufacturers, industrial groups, government contractors or municipalities partnering with us benefit by having access to innovative engineering services, heavy lifting and specialized transport equipment rentals, and design-build capabilities all under one roof. We also provide our team’s extensive heavy lifting knowledge and broad experience (explore our case studies), industry connections, financial stability and reputation. If you are interested in exploring a strategic partnership with Engineered Rigging, please contact Christopher Cox.