Developer Risk


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Developer Risk

  1. 1. Mitigating Project Risks with Contractors and SuppliersIt is common for developers to assume that their general contractors and construction managers have the appropriatetypes of subcontractor qualification programs in place. This typically isn’t the case due to lack of systems, staffingrequirements and time. Don’t assume. Require. The cost of managing the risk is minimal compared to the size of the risk and how much a single incident can cost the overall project. Missed deadlines, increases in project cost, and loss in profits, can all occur if even one subcontractor fails. Proper due diligence on the front end can help mitigate the chances of incidents like this occurring throughout a project. As the owner of the project, you have the ability to dictate how this process is being handled. By mandating that a contractor implement an effective screening and credentialing program, you will experience increased corporate control and have the ability to audit subcontractor files by accessing the Assurance Screening database. Both ownership and the general contractor are being protected from hiring subcontractors with financial instability, questionable past performance, improper insurance or lacking appropriate credentials. The contractor you select for your project will be able to make informed decisions when it comes to subcontracts. To put things in perspective: the cost of having all subcontractors and suppliers screened by Assurance would cost approximately one half of one percent, or less, of the total project cost. Because of our flexible pricing options, our process can defer the cost to the businesses being screened and there would be no additional cost to ownership or the prime contractor. Assurance Screening handles everything from document retrieval, storage and verification of required and requested documentation, including the management of certificates of insurance. With our subcontractor notification system and document collection and verification team specially trained to run the process for your general contractors, you can feel confident knowing that you have the information your firm needs to make the right decisions when it comes to working with quality subcontractors and suppliers. In addition, with our customizable screening parameters, flexible pricing schedule, and bulk enrollment discounts, your organization can have the peace of mind knowing that your subcontractors have the right insurance, supplier payment histories, licenses, or other types of credentials required to work with your firm. Meet with us today to see how we can help your firm Be Sure. ©2011 Assurance Screening, LLC