Turner Construction Company
1. What are are the various types of contingency funds? How do they work? Do you think this approach to contingency funds is adequate? Overkill?
2. What is Turner’s business strategy towards their clients? How is it different from their competitors? What is your opinion of this strategy? What are its strengths and weaknesses? What could invalidate Turner’s business strategy?
3. Evaluate the IOR system and related reports and meetings. Does the IOR system force managers and the project team to address contingencies and problems you identified previously? It appears to take a lot of time in meetings; is this necessary, wise? The system seems to be based purely on financials. What are the benefits/ disadvantages of this type of control system?
4. If you were Gary Thompson, what would you say about the $500,000 to:
(a) Les Shute and Don Kerstetter?
(b) Owner of Kent Square?
(c) Our project team (Jim Verzella and bill Rantenen)
Bill Rantanen – project manager (one project)
Jim Verzella – project executive (several projects)
Gary Thompson – Territory General Manager (several project executives)
Jane Murphy – senior cost engineer
Les Shute – Group Vice President
Don Kerstetter – Executive Vice President
Bob Meyer VP of Project Cost Systems
THE TURNER CORPORATION AND ITS SUBSIDIARIES
POLICY GUIDELINES FOR BUSINESS CONDUCT
Policy on Compliance with Law
The Company’s policy is to comply fully with all laws and regulations of the U.S. and its and other political subdivisions, as well as each foreign country.
Policy on Political Contributions
Support of political candidates and parties in the U.S. is desirable for individuals and is a responsibility of citizenship. However, no money, goods, or services shall be contributed on behalf of the Company directly or indirectly for these purposes. Political contributions may be made in foreign countries...
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