Beacon Staff Profile: John Yeung, Vice President
John Yeung joined Beacon Consulting Group as a Project Manager in 2006, working in Beacon's New York City office. By 2012, John was managing Beacon's New York office and was then promoted to Vice President in 2017. John has more than 30 years of experience working in Construction Management and Construction Consulting. We caught up with John this week and asked him a few questions.
What were you doing before you started working for Beacon?
I had previously worked with Dennis O'Neill for a few years when he was managing the NYC office for another consulting company. We had worked together on a lot of construction consulting and surety consulting projects at that firm. After Dennis left to form Beacon Consulting Group, I continued to work for the old firm, but then left to be a Project Manager on a large renovation project at the Port Authority of NY and NJ. In 2006, I jumped at the chance to work with Dennis again when the opportunity opened up at Beacon.
What are some of the things that you like about working in the construction consulting field?
Beacon works on such a wide range of projects which really keeps things very interesting. One month, we may be working on an assignment related to the construction of a new high-rise apartment building or hotel in New York City. The next month we will be helping to manage and complete site work at a totally different type of project out in the suburbs or in a different state. Every project we work on is in a different state of completion, has its own unique issues, personalities, and challenges. So, I'm always learning something new. Plus, we don't just sit in an office. We have to go out in the field to construction sites, to meet with contractors, clients, owners, developers, and financial institutions.
You mention financial institutions. What kind of work does Beacon do for banks?
Over the past 10 years, we have been providing a growing range of services for banks, such as construction loan monitoring. This means that when a bank provides funding to a large construction project, Beacon helps to ensure that progress on the construction project is tracking with the agreed to milestones as far as the loan disbursements go. We also help banks to evaluate whether a planned construction project seems to be a viable, well-planned project when they are evaluating whether to issue a loan.
In the Surety Claims area, Beacon often must help to "fix" troubled construction projects, such as when a General Contractor goes out of business and fails to complete a project. Is it stressful to become involved in what can be pretty high-pressure projects with a lot different parties in conflict, partially-completed work, and lots of money at risk?
This is actually part of what I like about working at Beacon. It can be a little stressful at times, but we have a systematic approach that we use on every project. We know what documents and information to look for in order to quickly understand where a project stands financially, what the scope of work requires, and what work remains to be done. It's a little like being a detective putting together all the pieces of a puzzle to solve a mystery. As we learn more, the picture becomes clearer and we can then communicate to our clients about what the true status of a project is and what will be necessary to get it done in an efficient way.
Even though we often come into a situation where owners and contractors may be in conflict, we always help find a solution that will make everyone a little happier and ultimately get the project done. Once the parties involved see that Beacon is part of the solution, we can usually get a lot more cooperation from the key players involved. Ultimately, the project owner wants to get the scope of work they paid for, the Surety company wants to minimize its financial exposure, and the various contractors want to finish their work, get paid, and move on to another project. Beacon is there to help protect our client's interests and facilitate the efficient completion of the contracted work. This is usually good for all parties involved.
Do you need to have "thick skin" to work in this business?
Having a good sense of humor helps. There are a lot of different personalities to deal with. Sometimes a well-timed joke can break the ice or help people to relax when tensions are running high. But, it can't be a joke at someone else's expense. It's better to be like Rodney Dangerfield and be a little humble and poke fun at ourselves (or a funny situation) while trying to learn about the status of a project or develop a rapport with a contractor or vendor working at a site. Ultimately, being competent and doing a good job every time helps to ensure that we "get the respect" that Rodney Dangerfield said he never got!
Any advice for young Project Engineers and Project Managers starting out in this field?
At Beacon, we have a pretty clear process that we stick to when working on any project. Sometimes various players involved in a project don't want to go through the process, but it's necessary. It's very important to listen carefully, take good notes at every meeting, communicate clearly, and make sure you follow up on anything you promised to do. Staying calm is also important. Talking less and listening more is one good way to help calm down a situation. Even though a difficult situation may seem like "torture" in a particular moment, we have to keep in mind the old saying "This too shall pass." Everything is temporary.
What do you do in your free time?
My wife and I have two sons (15 and 17). So, in recent years we are usually focused on activities related to the kids, such as sports, school activities, or helping our oldest son visit and learn about colleges. On weekends, I also like doing home improvements, getting outside, watching movies, trying new restaurants with my family, and learning about / drinking good wines.
Anything else you like about working for Beacon?
We have a great team of people, many of whom are now my good friends. We have also developed friendships with so many great people in the industry who we get to spend time with periodically at industry events, when working on projects, or at Beacon's annual corporate meeting. So, it's fun to get together (especially after projects are completed) and reminisce about some of the more amusing challenges we have worked on together, as well as the interesting characters we have come across along the way.
