Creative risk management can cheat time - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
April 22, 2014 Newswires
Share
Share
Post
Email

Creative risk management can cheat time

Carrison, Dan
By Carrison, Dan
Proquest LLC

During the end of the 2013 NFL season leading up to the Super Bowl, much of America watched football broadcast from the Denver Broncos' home stadium. Perhaps some of us noticed, as the overhead blimp provided a bird's eye view, the dramatic design of this one-of-a-kind edifice. The entire skyline of the stadium is contoured to resemble the profile of a saddle, in keeping with the Bronco symbolism.

It may come as a surprise to learn that the story of Sports Authority Field at Mile High is nearly as exciting as the games played within. And a couple of management lessons from the triumphant history of this NFL landmark can help those of us who call the plays for our organization, department or team.

The first lesson involves partnering with your adversary. The traditional method of building any large project puts the builder, in this case Turner Construction, and the architect, HNTB, in an adversarial relationship. The architect advocates for the owner and watches the contractor so that all is done according to plan. The contractor has every incentive to find errors and omissions in architectural drawings so that change orders can be requested legitimately. This arrangement has served the construction industry well for more than 100 years.

One problem: It takes a lot of time. The design alone could take a year and a half, putting off the construction date. Both Turner and HNTB could see that making the 36-month completion date mandated by the owner would be doubtful if they adhered to the traditional relationship. But by becoming partners - and building the stadium as it was being designed - the builder and the architect could trim six to eight months off the timeline.

So Turner and HNTB joined forces. The new stadium was the first ever built under a design-build joint venture. This meant that if the blueprints contained mistakes, Turner could not ask the owner for more money; the new partnership would bear the expense. But this very risky arrangement, in retrospect, made the completion date achievable.

This partnership helped foment a second important lesson: Don't wait for expected conditions. As Turner made ready to begin construction, the project management team had the shock of its life: Land parcels had not yet transferred title, meaning that team members were denied access, on day one, to nearly 75 percent of their job site.

City officials told the team that the necessary real estate transactions would require six months, a delay that would make the drop-dead completion date impossible. Turner had to start construction, but how?

Football stadiums always have been constructed as complete ovals, rising out of the ground as one recognizable shape. Turner and HNTB decided to design and build the stadium in a radically different way: as a series of interconnected high rise buildings that would form an oval. This way, they could start immediately on the little patch of land available.

No stadium had been constructed in such a manner before. It was like baking a pie one succulent piece at a time. This risky approach would not have been possible if Turner had not taken the earlier risk of partnering with the architect. Otherwise, the Turner team would have received blueprints to build the stadium in the traditional manner and would have waited for the land to become available.

These two examples of aggressive, creative management can help us meet our own, hopefttlly less dramatic, deadlines. Partnering with a customer or a supplier might be the most expedient way to meet a deadline. And beginning where you stand, rather than waiting, is a good way to cheat time itself.

Beginning where you stand, rather than waiting, is a good way to cheat time itself.

Dan Carrison, a business writer and consultant, has authored or co-authored four management books: Semper Fi: Business Leadership the Marine Corps Way, Deadline! How Premier Organizations Win the Race against Time, Business Under Fire and From the Bureau to the Boardroom. Carrison is a general partner of Semper Fi Consulting and founder of www.ghostwritersinthesky.com. He also teaches corporate communication for the University of La Verne. He can be reached at [email protected].

Copyright:  (c) 2014 Institute of Industrial Engineers-Publisher
Wordcount:  692

Older

The Anatomy of Pencil Whipping

Newer

Mark O’Brien Joins Contego Services Group As Northeast Account Manager

Advisor News

  • How to listen to what your client isn’t saying
  • Strong underwriting: what it means for insurers and advisors
  • Retirement is increasingly defined by a secure income stream
  • Addressing the ‘menopause tax:’ A guide for advisors with female clients
  • Alternative investments in 401(k)s: What advisors must know
More Advisor News

Annuity News

  • MassMutual turns 175, Marking Generations of Delivering on its Commitments
  • ALIRT Insurance Research: U.S. Life Insurance Industry In Transition
  • My Annuity Store Launches a Free AI Annuity Research Assistant Trained on 146 Carrier Brochures and Live Annuity Rates
  • Ameritas settles with Navy vet in lawsuit over disputed annuity sale
  • NAIC annuity guidance updates divide insurance and advisory groups
More Annuity News

Health/Employee Benefits News

  • Column: N.C.’s Medicaid ‘compromise’ comes at a cruel cost
  • Idaho farmers can band together to buy cheaper health insurance through Farm Bureau deal
  • HHS NOTICE OF BENEFIT AND PAYMENT PARAMETERS FOR 2027 FINAL RULE
  • Reports Outline Clinical Trial Research Study Results from Imperial College London (Multimorbidity, health service use, and health insurance by socioeconomic groups in 31 countries: A multi-cohort study): Clinical Trial Research
  • Findings from Brown University School of Public Health Broaden Understanding of Managed Care (Federal Enforcement Actions Against Medicare Advantage Plans): Managed Care
More Health/Employee Benefits News

Life Insurance News

  • AM Best Affirms Credit Ratings of Berkshire Hathaway Life Insurance Company of Nebraska and First Berkshire Hathaway Life Insurance Company
  • Generational expectations: A challenge for the industry
  • Greg Lindberg asks NC judge for no jail time in bribery, fraud cases
  • National Life Group Names Brenda Betts to Its Board of Directors
  • Ask Tim a Question? Business, Finances, Money, or Taxes
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

Inside the Evolution of Index-Linked Investing
Hear from top issuers and allocators driving growth in index-linked solutions.

Press Releases

  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
  • Hexure Offers Real-Time Case Status Visibility and Enhanced Post-Issue Servicing in FireLight Through Expanded DTCC Partnership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet