Imagine this scenario: A bank wants to build a new flagship headquarters, but the bank’s leaders want to keep costs to a minimum, and so they decide to take a new approach to the project. Instead of hiring a construction manager, they compose an advertisement that says, “Wanted: Bank headquarters. Fifty stories tall. Must feature innovative architecture.” They then send the ad to all the specialty contractors—electricians, architects, plumbers, etc.—they need to…

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Read more stories by Elisabeth D. Babcock.