All of the details of running construction projects today, tomorrow, next week and next month and seeking new business easily fill a day, but it is very worth the time to look down the road farther and think about who will be running things in the longer term, financial adviser Mike Wolff says in the December issue of Construction Executive Magazine.

His article accompanies links to 30 articles that the publication bills as, "One-Stop Shop for Industry Best Practices to Help Construction Companies Navigate the Tough Economy." They cover risk management, finances, business development, technology and legal matters.

"Construction company owners are consumed by planning initiatives – from short-term budgetary plans to longer-term bidding plans and contingency disaster recovery plans.... But, business owners who have dealt with ownership transitions know succession planning is time well spent and yields a positive return on investment," says Wolff, a partner in Atlanta-based French Wolf & Farr.

It may seem like an obvious thing to do, but not enough companies do it, Wolff says.

"it is estimated only one-third" of privately held companies "survive to the next generation," he writes.