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Why implementing efficient procedures will minimise your Project Liability

Learn lessons from past projects and implement efficient procedures on your next project and you'll go a long way to avoiding future shocks in respect of your Project Liability.

Do you have a good idea of the project costs as it progresses or are you too busy reviewing what's passed to see any bumps in the road ahead?

Get into 'full job forecasting'

Full job forecasting on projects right from the initial stages helps to ensure that projects don't run over budget. It also provides all the information you need to make informed decisions with regards to all project spending. 

It's really important and a key part of what we call Project Liability Review because monitoring the job cost forecasts allows:

• Contractors to maintain control over project spending.
• Procedures to be implemented to ensure that budgets are controlled.

Any discrepancies or changes identified by conducting regular Project Liability Reviews can be fed back into the tendering process, ensuring the project lifecycle and lessons learned are properly implemented, not only with regards to on site tasks but also the tender and estimating phases.

If you're not sure that the projected costs are in line with the project budget that you could end being liable and out of pocket.

Take this scenario...

A Sub-Contractor's budget has been agreed at £50,000, but their costs rise to £60,000 as the project progresses for all sorts of reasons. This will be your liability! If you spot it early, you will have time to adjust the overall project budget to accommodate it - if you don't you'll be £10,000 short on completion.

Quantum CPM will help you get it right

We help Sub-Contractors to look forward and understand the liabilities they will face in every project. We provide a Project Liability Review service which provides a full end of job cost forecast, putting you in a much better position early on during your client negotiations and discussions. In addition, this service helps to ensure that future cost liabilities are properly reported and provided for.

It is part of our bundle of services designed to help Sub-Contractors protect themselves more comprehensively in construction projects and make sure their services can be delivered as promised with the minimum fuss or risk of financial loss. This includes Contract Vetting prior to agreeing to work on the project, Final Account Control to ensure that Final Accounts are submitted on time after completion and Retention Fund Management.

For a free initial consultation, contact Quantum CPM on 0161 974 6655 or email .

Find out more about our bundle of services.