Business Opportunities
Program Purpose
The BOWDC will provide developmental services to DBE firms who are ready, willing and able to compete for and perform federal-aid highway contracts. This program will provide developmental assistance and services to enable DBE firms to operate more competitively and successfully.
The program’s goal is to provide DBE firms with the tools necessary to support their ability to eventually graduate from the DBE Program. We provide supportive assistance in two areas: Business Assessment and Development Plan Implementation.
Eligibility for Program Services
- CTDOT certified DBE
- Actively working or soliciting work on CTDOT projects related to heavy and highway.
Business Assessment Services
An assessment is done to determine a firm’s overall health or condition. The assessment will determine strengths, weakness and other threats as well as identifying deficiencies, and opportunities for improvement. The assessment will also prescribe steps or actions in the form of a Development Plan to promote business growth and development.
Development Plan Implementation Services
The implementation of prescribed steps or actions outlined in the Business Assessment will include the actual delivery of supportive services to address.
deficient areas. Firms will be provided with a designated number of hours of one-to-one technical assistance to develop and implement this plan.
The areas of assistance may include, but not be limited to the following:
Financial Management Services
- Accounting
- Asset and debt management
- Cash flow analysis
- Loan Packaging
- Bond Packaging
- Project Financing
- Change orders
- Insurance Requirements
- Project Cost Comparison
Construction Management Services
- Quality control
- Subcontract Development
- Analysis of ongoing project requirements
- Contract Performance problem resolution
- Interpretation of plans and specifications
- Preparation of Certified Payrolls
- Managing construction schedule
Operational Management Services
- Organization Development
- Automated Record Keeping
- Business Plan Preparation
- Time Management
- Decision-making practices
- Administrative Operations
- Workforce Development and Training
- Technology
Procurement
- Identifying contract opportunities
- Developing marketing strategies
- Bid and Proposal Preparation
- Manpower allocation
- Equipment needs
- Assessing Subcontractor Requirements
- Work Schedule Management