Engineering Inc. - September/October 2003 - (Page 28)

BRANCHIN G OUT By Joe Panettieri DIVERSIFICATION MAY BE THE KEY TO GROWING YOUR FIRM IN TODAY'S CHALLENGING ECONOMY. I n s t e a d of waiting for the h e a v y industry remain weak, U.S. economy to shift into s t r o n g e r areas include health h i g h gear, CH2M HILL c a r e and wastewater manage- I n c . is forming strategic ment, according to Bill Fanning, alliances that may fuel the director of research at PSMJ. f i r m's growth for years to T h e re are growth markets, come. but opportunities aren't going to In recent months, the Denver- slap you in the face all the time, b a s e d consulting engineering says management development firm has partnered with Riskol- specialist Stuart Rose, executive ogy Inc., ADA Technologies Inc. director of Professional Devel- a n d several other specialized opment Resources Inc., in Poqu- technology firms. The relation- oson, Va. You have to go out ships solidify CH2M's position and look for them. i n such promising markets as Diversification is essential to homeland security and energy e a c h firm's survival, adds management. William A. Wallace, formerly of During the economic pull- CH2M HILL and now founder back, some consulting engineers a n d president of we re far too conservative and Wa l l a c e Futures Diversification, both d r o w n e d in red ink. But in Group LLC, a con- in terms of our services recent quarters, the pendulum sulting company in and our locations, is has swung in the opposite direc- Steamboat Springs, extremely important to t i o n . Many savvy companies Colo. Some single- the health and growth now use a mix of acquisitions, market firms believe of a firm. p a r t n e r s h i p s , and innovative their core industry FERMIN A. DIAZ, t e c h n o l o g i e s to unlock new w i l l grow forever, WILSONMILLER INC. o p p o r t u n i t i e s , maximize staff only to find that an productivity, control costs, and u n p l a n n e d event push profits higher. s e n d s their client The results appear promising. b a s e into rapid A majority of consulting engi- decline. n e e r s expect year-over-year One prime exam- t h i r d - q u a r t e r revenue to ple from yesteryear: i n c re a s e , according to a mid- I n the late 20th 2003 survey by PSMJ Resources centur y, some consulting engi- Inc., a market research firm in neering firms eagerly anticipated Marietta, Ga. Only 14 percent b u s i n e s s opportunities in of design firms expect year-over- nuclear energy, only to see nei- year revenue to slide during the ther the opportunities nor the period. While markets such as revenue materialize as hoped. 2 8 E N G I N E E R I N G INC. S e p t e m b e r l October 2003 M A R T Y BLAKE

Table of Contents for the Digital Edition of Engineering Inc. - September/October 2003

FROM ACEC TO YOU
ASK MEMBERS
NEWS & NOTES
LEGISLATIVE ACTION
INTERVIEW WITH SENATE DEMOCRATIC WHIP HARRY REID
TRIPLE PLAY
IS YOUR FIRM ETHICAL?
BRANCHING OUT
MEMBERS IN THE NEWS
ONE ON ONE

Engineering Inc. - September/October 2003