The document discusses risks associated with common practices in the construction industry. Main contracts typically last 12-36 months and involve 5-25 staff. Each project phase includes around 200 sub-contracts with 25 attachments each. Over 3,000 interim payments must be certified before the final accounts. Approval from 4-6 members is needed for every contract and payment. Without a proper system, key data can go missing, legal compliance is weak, financial estimates are uncertain, and internal fraud is possible. Confidential data may also leak and anyone can change or delete calculations or data when using unsecured systems like spreadsheets.

1. A. Main-contracts commonly last for
12 - 36 months.
B. Contract team comprises between
5 - 25 staff i.e. Quantity Surveyors
C. Each project phase usually has 200
sub-contracts + 25 attachments
each.
D. Over 3,000 interim payments need
to be certified before Final
Accounts.
E. Every contract & payment require
approval of 4 to 6 members.
Disrupt business operations
when key data go missing
Missing legal upper-hand due
to weak contract compliance
Uncertain financial estimates
when there is no system to
automate budget control
Absence of an industry proven
system encourages internal
frauds
Leaking of Confidential Data
due to unsecured system i.e.
Costing & Budget
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Anyone Can Change Calculations
Anyone Can Delete Data
Anyone Can Copy Company Data
Validate Thousands Clauses/BQ items
Copy & Paste Mistakes
Everyone Has Unique Contract Version
Openly Share Sensitive Information
Manual Formula has Margin of Error
Spreadsheet & Document Risk Factors
Such as MS Excel/MS Word Software
Associated Human Risk Factors
Using Spreadsheet and Document Software
IMPACT
Business Continuity
RISK FACTORS
Common Practices for Contractors
SCENARIOS
Nature of Construction Projects