Project-based industries such as construction have very different business challenges from other manufacturing or process based industries. Almost every project is unique, often with a new team, so each is a new challenge from the outset.
It can be argued that five challenges are common to all project-based businesses:
- Cash flow
The way these factors are managed, both individually and collectively, determines the success or failure of a project, and ultimately of the project-based businesses behind it. All five factors are variables that should be weighed against each other before any major decision can be made.