Blog

30th April 2021

Are you gambling on how much money you'll make in your contracts?

Do you know how much this will all cost in the end? It's a common question in construction contracts and one that you will only be able to answer if you are recording your costs AND your liabilities.

Are you taking a risky gamble in every contract about how much money you will actually make at the end? If you're not keeping a keen eye on your liabilities you might as well place your hopes on the next flip of a card or throw of the dice and pray that it lands in your favour.

No need to do this. Recording liabilities, not just the money you've paid out to date, is what this is all about. It is so important to know how the buying spend compares to progress and what the predicted outturn costs are going to be.

Armed with this information on liabilities you'll know the targets to meet - and get the effective management information you need too. Most Sub-Contractors like you probably already keep track of your liabilities in some way - but could you be doing it better? We can help - our construction industry specialists will handle this on your behalf through our Project Liability Auditing service.

How a Project Liability Audit works

Quantum CPM's team provides a full end of job cost forecast. This puts you in a much better position early on during your client negotiations and discussions, and importantly, this service helps to ensure that future cost liabilities are properly reported and provided for.

The key benefit is to give Sub-Contractors better cost control and early warnings for management decisions to be made to prevent or limit damage and maximise profit.

Part of our Bundle of Services

Our Project Liability Audit service is part of our bundle of services designed to help Sub-Contractors protect themselves in construction projects and make sure their services can be delivered as promised with the minimum fuss or risk of financial loss. These start with Contract Vetting prior to even agreeing to work on the project right through to Retention Fund Management.

To find out more call Quantum CPM on 0161 974 6655 or email .

RICS member logo, providing Quantum CPM clients with independent assurance on the quality of our services
Chartered Institute of Arbitrators (CIArb) member logo, the professional body for dispute avoidance & dispute management
Society of Construction law member, supporting its aims to promote the adoption and understanding of construction law