After three decades in construction, I have realized that you have to be constantly on guard against people and/or circumstances that can endanger your company.
These are the go-to management tools, documents and procedures you must implement if your business is going to survive.
You will use these survival tools to placate government regulators, keep your clients in line, maintain job-site quality with your subcontractors and handle the multiple risks you face when operating a construction company.
Not always nice, but always necessary. These lessons are fundamental to protecting your business in a selfish and dangerous world.
In this course, the first section, the Risk Management Decision Model, will help identify the risks faced in managing a construction company.
The second section deals with developing a risk management mindset.
The remaining sections explain, and provide tools for, some of the most helpful risk management strategies I have developed in my construction company.
Sections in this course include:
Feel free to contact Dennis if you have additional questions. firstname.lastname@example.org.
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You need to be a RISK TAKER to go into business…You need to be a RISK MANAGER to succeed in business.
A construction job site is full of risks. So is a construction company.
This lesson contains a list of the business considerations you should include in your contracting package.
Acquiring this booklet from the NAHB will be one of the smartest risk management tactics you ever employ. Learn how to use the booklet in this lesson.
Use the Initial Specifications document to establish and document the baseline materials list from which you develop your proposal. Eliminate the confusion your clients might have about what is or is not a change to their contract.
How to complete and use the Initial Specifications document to mitigate client transaction risk in your construction business.
Have a series of these completed and on hand when OSHA comes snooping around. Show that you are serious about safety.
If it isn’t written down, it didn’t happen. Nothing is more effective at answering vague accusations than a written record of what happened on the jobsite day-by-day.
Get all the important jobsite information gathered into one location on your jobsite. The Job Board is the answer for jobsite communication.
When all the information relating to a project is gathered in one place in your office, you can sleep better knowing that the details are handled. The Job Binder is a low-cost, efficient way to accomplish that task.
Here are five of the most important documents in the Builder Academy library. The Confirmation of Instructions, Notice of Completion, Draw Request, Delay Notice and Restart Notice are key to controlling your client relationship. Failure to use these documents could put your business at risk.
Clarify what the Buyer wants. Inform the Buyer of the effects of changes on the finances and the schedule for the project. The Confirmation of Instructions is the document to accomplish these important tasks.
A series of mini-punchlists and signed acceptances is far superior to the usual practice of the final walkthrough. See how to use this document to move the project along and protect your company at the same time.
This draw request contains all the information the Buyer and the Lender will need to make payment. Speed the draw payment up with this document.
If you are going to stop production on a project, you must document why, provide remedies for the problem, and explain the impact on the schedule of the decision. This document provides that information to the client and for your records.
One of the biggest frustrations and largest source of profit slippage is dealing with subs who aren’t on the same track as you. Use the Terms and Conditions, Scope of Work, Work Order, and Inspection Report to get the results you want at the jobsite. Control jobsite quality and profit slippage with these documents.
If you want to be a member of my team, this is how you will conduct yourself.
A major portion of the risk you face comes from the work of your subcontractors. Your insurance carrier requires that you monitor the insurance coverages of your subs. Here is how to set up and use the Sub Insurance Coverage Monitor in Quickbooks Desktop and Asana.