3 Ways to Minimize Project Risk During COVID-19

As contractors are met with new challenges during the COVID-19 pandemic, it’s crucial to find ways to minimize risk. Here are a few tips to help navigate these complex times.

Let’s talk about the biggest buzz phrase in construction – finishing projects “on time and under budget.”The reality is you’re going to face delays and unexpected costs. It’s imperative that you are documenting at every stage of projects. It is the single most important thing any general contractor or subcontractor can do to ensure full payment and, in worst cases, avoid litigation.
As deadlines loom and the work piles up, it’s natural for team members to put their heads down in an effort to get everything done. Working remotely can create an opportunity for communication to slip through the cracks. If you’re not following these two seemingly minor steps – communication and documentation – the owner of the project can turn around and say, “we don’t owe you anything because you didn’t follow contractual obligations,” and the finger-pointing begins.
Leverage Technology
One major step that’s going to help you with the previous points is having a single source of truth. Picture this: You receive a spreadsheet, make an edit, share it via email and suddenly there are numerous versions being emailed back and forth. By using software like StratusVue, you ensure version control and take a step towards the future of paperless job sites. It may seem daunting implementing technology, but doing so will have a massive effect on time savings. It’s not a matter of if, but when we will no longer see papers scattered around job sites.

Owners, now more than ever, are nervous about their projects. They not only want but need up-to-date documentation to feel at ease. Companies that provide accurate and timely data prove their reliability. This will appease owners on current projects and ensure future jobs. With all of your documents and communication in one location, you can focus on providing quality service.

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