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A key element in bidding and managing a construction project is risk management. Central to managing risk is the requirement to create and retain accurate and complete records of the interactions between the various parties involved in the project. Lawyers providing proactive advice about how to manage risk are very clear about the need to record and retain complete and accurate records of project activity. Transmittals, courier receipts, submittal logs, registered mail and other mechanisms are all used to help manage this issue. Failure to properly manage these records can result in time consuming and expensive claims or disputes. Using an effective electronic document control system can significantly improve project accountability by automatically managing these issues. When considering your options look for these five key elements:
If your system includes these features you will be well on your way to having greater control over your project information with less effort and much lower risk of claims or errors.
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