article thumbnail

From Zero to Hero: Construction Risk Management

Safety Services Company

IS YOUR BUSINESS EFFECTIVELY PRIORITIZING CONSTRUCTION RISK MANAGEMENT? Truth be told, every industry involves risk. Whether the project involves a multi-million-dollar office building or a three-story apartment complex, there are several risks that need to be considered in order to ensure the success of any construction project.

Risk 62
article thumbnail

From Zero to Hero: Construction Risk Management

Safety Services Company

How Well Does Your Business Prioritize Construction Risk Management? Truth be told, every industry involves risk. Whether the project involves a multi-million-dollar office building or a three-story apartment complex, there are several risks that need to be considered in order to ensure the success of any construction project.

Risk 62
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

No Free Warranty: Connecticut Court Adopts Correction or Repair Test

Constructlaw

ALS’s subcontract permitted the DOT to hold back 60% of its payments to assure ALS would warranty the work, which ALS did with site checks performed between June 2019 and May 2020. This case presents important lessons for both subcontractors and developers, including: Claim forms matter, especially when submitted as sworn statements.

article thumbnail

#67:  Paying Your Subcontractor's Employees

NH Construction Law

Before subcontracting any significant portion of a long term job to someone who isn’t known to be financially solvent, the wise general will ask for proof that the sub can carry the strain of weekly payroll through a monthly requisition procedure, with retainage. But hey, who ever said that general contracting was risk-free?

article thumbnail

#100:  Dealing With Rising Costs

NH Construction Law

Another approach is to negotiate with subcontractors or suppliers to lock in prices for an extended period of time, thereby kicking the price increase risk downstream – but in the present volatile market, subs and suppliers are increasingly reluctant to hold their prices for long, typically not more than 60 or 90 days.

Deals 40
article thumbnail

These 5 essential traits in your team are the secret to a successful construction project

Fieldwire

Even when you disagree with someone’s point of view, you’re prepared to listen and present your opinions respectfully. Without proper planning, there may be an increased risk of delays. Effective project management Successful subcontracting relies on effective project management. Will it help make the processes efficient?

article thumbnail

LEAN construction cost estimating

Job Order Contracting

Shared risk/reward. Put another way, a scope of work is division of construction items to be performed under a contract or subcontract in the completion of a project, typically broken out into specific tasks with deadlines. A certain degree of change management is also present. Early and ongoing participation.