by PIDCphila
September 18, 2015

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STV PRESENTATION 2On September 10, PIDC held Part 1 of its Construction Workshop Series.  Over 25 business owners were in attendance each offering a variety of services from electrical to interior design.

Philadelphia is experiencing a phenomenal construction boom all across the city. With more construction opportunities becoming available in the public and private sectors, PIDC is presenting a 4-part Construction Workshop series to provide contractors with the necessary tools for lasting success.

The topic of Part 1 was Expectations of a Prime Contractor. PIDC had the pleasure of working with Timothy Mason, Vice President & Territory Manager for STV as its presenter. STV is a leading, award-winning professional firm offering engineering, architectural, planning, and environmental and construction management services. Mason is a construction services professional serving the mid-Atlantic region with over 29 years’ experience in construction management and architecture.

Timothy Mason, STV

Mason explained the relationship between a prime contractor and its subcontractors is crucial.  It can determine the outcome of a project and the future success of each party.  Knowing what to expect is half the battle. This workshop will discussed roles of the prime and subcontractor, strategies to manage these expectations and working collaboratively for the win-win. The workshop was very engaging and allowed plenty of opportunity for Q&A and networking. More than half of the participants plan to attend the remaining workshops.  Some key takeaways included:

  • Before you respond to an RFP
    • Understand what you are selling
    • Understand who you are selling to
    • Build relationships with industry professionals
  • Your Pitch
    • Know what sets you apart from other contractors
      • Local based team, full-service capabilities, online project controls system, etc.
    • Understand your role in the RFP process and the project
      • Disputes could cost you a relationship and future business
      • Understand the insurance requirements not just from the prime contractor but the client as well
      • Read and re-read all documents
    • Interview with Client
      • Understand who you are presenting to
      • Support the prime contractor
    • After the Bid
      • If you lose, follow up, request a debrief, stay in contact
      • If you win, read and re-read all documents, ask for project kick off meeting, understand fee structure, fee schedule, billing etc.
    • Next Steps
      • Partnerships with developers
        • Can lead to future business
      • Take every opportunity you get to network and attend conferences.

STV PRESENTATIONPIDC offers a specific financing product for contractors. The Contract Line of Credit Loan provides support to small, minority, women, and disabled-owned businesses that need a line of credit to fund contract-related working capital. To qualify, contracts must be assignable to PIDC. Use of funds is restricted to labor, materials, and equipment costs directly associated with the contract being financed. Financing is available to qualified businesses that have been awarded public or institutional contracts or sub-contracts.  Private sector contracts may also be considered for financing.

For more information on how PIDC can assist your business with a Contract Line of Credit Loan please contact Chamor Hollinger at 215.496.8157 or .

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