What We do
A company’s leadership is accountable for establishing the levels of risk the company is willing to assume. This requires a thorough understanding of the Cost of Risk (COR), the implications of risk to your company, those risks you are willing to accept, or not, in pursuit of profitable performance and the long-term financial health of your company.
Murphy Business Solutions will assist you in assessing the types and levels of risk your company is willing to assume. By establishing your risk tolerance, we can establish guidelines that can be incorporated into your business. You will have established a clear and consistent message throughout your organization, with your customers as well as your lower tier contractors and vendors.
Once we have established your risk tolerance and guidelines we can operationalize how you address contracting in three main phases of your work.
- Bidding – RTC (Read the Contract) – Understand the risk transfer concepts contained in the contract
- Contracting – NTC (Negotiate the Contract) – Structure an appropriately balanced contract
- Execution – FTC (Follow the Contract) – As work is performed and work is eventually closed out, address contractual obligations contained in the contract as agreed to by all parties
Supply Chain Contracting – Pre-Award through Closeout
When reviewing the components of supply chains it is important to understand where your organization fits. All companies have customers, contractors, vendors and suppliers. You do not produce and consume each and every bit of goods and services that run through your company.
In Supply Chain Contracting, we will focus on how to align your supply chain – from your customers, through your organization and down to your lower tier contractors, vendors and suppliers. The structuring of flow down contractual requirement is, many times, a requirement of your contract with your customer. Even when it is not contractually required, you will be in a better position after we establish what to include in your contracts, how to structure flowdown requirements and how to manage your lower tier providers.
For your projects you will be addressing scope, schedule, quality, safety and related commercial items as well as the risk transfer components of the legal side of the contract. In Supply Chain Contracting we will ensure you will be in a position to address those items, appropriately, with you lower tier contactors, suppliers and vendors.
Contract Execution Management – Contract Compliance
Contract Compliance administration should begin prior to signing the contract. Murphy Business Solutions will provide techniques to use during the precontract phase to understand contractual obligations. We will work with you to create tactics that allow your teams to comply professionally with your obligations, while protecting your rights.
Execution of a contract is broader than ensuring the deliverables are provided in a safe and quality manner, at or under budget, and on schedule. It is very common in today’s contracting environment to see complex agreements with significant administrative compliance requirements being placed on companies throughout the supply chain.
Many companies have predictable concerns about “execution” personnel remaining focused on “getting the job done” and taking care of contract administration. Contract Compliance support will allow you to understand how to identify and address those areas of concern. We will provide guidance on how to better understand and follow the “rules” that everyone agreed to in the contact. Your teams will work in ways that will increase the likelihood that each company’s rights are protected and obligations are met.
These identified areas will be monitored and controlled, as necessary, throughout the execution of the contract. Improved compliance leads to improved financial performance.
Commercial Strategy – Development and Implementation
Why is your company in business? Where is your business today? Where do you see it in the future? What has to be done to move your organization from where it is today to where you want it to be tomorrow?
Murphy Business Solutions can assist you in developing your strategic plan. Together we will work through various aspects of strategic thinking. The vision you develop will be the cornerstone in your strategic plan. It is vision that gives the organization not only direction, but passion, by allowing it to imagine and work toward what it can be.
Murphy Business Solutions will walk you through a strategic development and implementation program that is tailored to your needs. The plan will be forward facing. It will recognize where you are today and where you want to be in the future. We will allow you to concentrate on key areas that support the strategic vision of your company. These areas will be very important to your current and future decision making as you operationalize strategy and obtain sustainable results.
Market Research and Analysis Support
Murphy Business Solutions has the experience and capabilities to provide you with insight into markets and geographies you are currently serving as well as markets and geographies you wish to penetrate. Our investigation and analysis will provide details on products and services utilized in those markets, key customers, competitors, suppliers and subcontractors.
Our external assessments will be tailored to your needs and can include overviews identifying and evaluating target markets, customers as well as competitor trends that can influence the success of your products or services. Analysis will reveal key opportunities and threats confronting you so strategies can be formulated to take advantage of opportunities and avoid or reduce the impacts of threats as you establish your competitive positioning.
General Business Consulting
Murphy Business Solutions has the experience to provide a host of other consulting services. The following include a small sampling of other services that can be provided.
Training – Subject specific training as well as “train the trainer” training is available for most service areas. The training can be tailored to your specific company requirements. Training can be done at your location, an offsite location or may be provided remotely, if practicable.
Contract Review Support – Provide you with resources to review contracts in a manner aligned with your risk transfer guidelines.
Subcontract Review Support – Subcontractor, vendor and supplier reviews that support your supply chain requirements.
M&A – If you are looking at potential mergers or acquisitions, we can provide support in reviewing contract exposure, risk transfer maturity, contracting experience and contract management proficiency. Support can also be provided post acquisition in establishing and monitoring the integration plan.
Insurance Underwriter and Insurance Renewal Support – Speaking with your insurance carrier underwriters can provide improved relationships which can lead to enhanced policies and better premiums. You count on your broker to take the message to the market, however, having someone available to support those efforts can bring additional advantages to your company. Murphy Business Solutions can assist you with underwriter interaction and during insurance renewals.
Business Process Support – Services are available to support your business processes. Whether it is developing new or rebuilding existing processes, we are available to work with you to enhance performance by applying consistent processes to your workflows. Key aspects that need to remain front and center Include – the processes should be easy to explain, easy to understand and easy to apply in a sustainably effective and efficient manner.
Board Advisory Services – With extensive experience with executive committees and boards you can partner with Mike as a board or executive team advisor. His experience across industries, functional departments, safety, quality, finance/accounting, insurance, litigation and many facets of construction and engineering practices can provide you with a third-party perspective, in confidence, to support your decision making.