Managing Your Construction Claim
Construction claims have been increasing in volumes due to the result of the rising complexity of project planning. The price structure of the industry plays a large role as well because improper funds are often allocated towards the project causing there to be delays and financial loss. When a claim is filed, contractors tend to lack the proper construction claims management skills to take care of it quickly and efficiently. Here are some tips to improve your managing abilities.
Recognize and Identify
Claim management is controlling the amount of consideration that one party is seeking. When recognizing and identifying a claim, you should do so in a quick and accurate manner. This is critically important for you because the dispute can be recognized in its early stages and dealt with before it becomes a three-headed monster and threatens your project even further.
Recording your management as a contractor is underrated. Be sure that your records are properly documented. One of the most important things that contractors do not know is that the daily reports of a project could be the decisive factor in the claim. Being one of the items that are given the least amount of attention to, take note that when it comes to legal matters they can be used for leverage.
Seek out an Expert
Hiring a construction expert witness for consultation and opinions can give you an unbiased perspective on the case. Preferably you would want an expert that has previously worked in the construction industry. They are the types that have experienced the ins and outs of the business.
Bio: Lyle Charles Consulting, headed by construction expert Lyle Charles, provides answers to your technical, operational, marketing or financial needs.