Risk Management Archives - Page 2 of 13

Survival Strategies for Small Subcontractors in a Big-Project World 0

By Patrick Hogan, handle.com Small subcontractors face a unique challenge in large commercial construction projects—big opportunities come with big risks. Long payment cycles, retainage withholding, and contract terms designed to protect general contractors and developers can make cash flow unpredictable. Without a solid strategy for managing payments, small businesses can quickly find themselves struggling to

The Tax Cuts and Jobs Act is Riding into the Sunset: Here’s How to Prepare 0

By Travis Klein, Ellin & Tucker THE TAX CUTS and Jobs Act (TCJA) of 2017 marked a significant shift in U.S. tax policy, introducing a range of changes aimed at stimulating economic growth and corporate investment. The landmark legislation included a whole host of provisions and significant changes to existing tax policies, including a corporate

How Proper Lien Waiver Management Reduces Payment Claims 0
- Cash Management, Claims, FINANCE, Improving Productivity, Payment, Risk Management
- November 26, 2024
By Patrick Hogan, handle.com Payment disputes are one of the most frustrating roadblocks on any project. They slow down cash flow, create unnecessary tension within the project, and often escalate into formal claims that consume time and resources. Fortunately, many of these disputes are avoidable. Effective lien waiver management—done with clarity and consistency—ensures all parties
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WIP Reports Speak Volumes: What Does Yours Say to a Surety?0
- Documentation, Improving Productivity, Payment, Risk Management
- November 26, 2024
By Merchants Bonding Company A construction company’s work-in-progress (WIP) report speaks volumes about an organization’s competence and financial stability. What should a WIP say, especially to the surety using it to extend surety credit? WHY WIP? For top construction companies, WIP reports are a best practice. Used correctly, they can be a powerful risk managementREAD MORE
An Ounce of Prevention is Worth a Pound of Cure: Prepare for Success on Your Construction Projects 0
- Claims, Contracts, Payment, Risk Management
- November 26, 2024
By: Jim Sienicki and Christian Fernandez, Snell & Wilmer L.L.P. An ounce of prevention is worth a pound of cure—a concept subcontractors would be prudent to adopt. Often the best approach a subcontractor can take to prevent or manage claims and disputes on a project is to implement best practices before the dispute arises. This
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