Page 55 - CCD-Mag-Summer-Fall-2020

Chapter Sponsor
SPOTLIGHT
Almost every industry sector has their own version of the “three-legged stool” analogy where all three components are essential to providing the necessary stable structure or baseline for success. One of the more notable “three-legged stool” analogies used in construction and project management involves the following elements: Time, Cost and Quality. Remove any one of these factors, and a construction project could be at risk.
When it comes to evaluating construction firms themselves, Bill Farrell, Senior Vice President/Manager of the Contractor Division, Corporate Banking Group at BOK Financial, explains that the “three-legged stool” for contractors includes the contractor’s bank, their bonding company and their accounting firm. He noted that all three elements should complement each other so that construction firms can remain solvent and have the opportunity to grow. As a banker in Colorado for 39 years, Farrell is proud to serve the construction industry as part of that three-element system for success.
BOK Financial specializes in the construction industry and has been an active part of AGC of Colorado for over 30 years. This “continuity of involvement” as Farrell describes it, allows BOK Financial to develop long-term, stable relationships with their construction counterparts, learning their pain points and having pro-active conversations to help alleviate potential issues.
“As we look to the future of the construction industry, the feedback I am receiving from conversations with my clients is that we are operating with cautious optimism,” commented Farrell. “I encourage courageous conversations to find out what concerns you...nobody likes a surprise. My goal is to have these pro-active conversations to help my clients find the resources they need to be successful.” Contractors will continue to rely on the strength of their three-legged stool to manage through this economic cycle. BOK Financial looks forward to supporting this critical industry with a long-term view in mind.
To contact BOK Financial:
(303) 291-2950 www.bokfinancial.com
Thanks for Supporting
Our Industry & AGC of Colorado!
Bill Farrell
Senior Vice President
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