Obstacles Construction Subcontractors Must Overcome for Success Part 1
Subcontractor failure affects everyone on the construction site from the owner, to the general contractor, to the developers, and other subcontractors. No doubt subcontractors face many pain-points internally and externally. What they do or do not do can cause delays, additional expenses, and defaults. If you are currently facing a legal issue, we recommend you consult with a West Palm construction attorney to mitigate the issue right away.
Both this part and part two of this series will list several obstacles subcontractors must overcome if they want to have success in the industry.
Staying on Schedule
Deadlines are unavoidable, so managing the project schedule is critical. Streamlining projects is the key to saving time, staying organized, and meeting goals. To avoid chaos, use a calendar (electronic or otherwise), develop an action plan to address unforeseeable problems, and check in frequently with everyone to stay abreast of what’s going on in every project phase.
Communication can be a major issue or the key to your project success. Miscommunication can have a variety of negative consequences on the entire construction process. Miscommunication can impact everything including the project timetable, the safety of other people, the project’s budget, and the quality of the finished product. The rate at which these areas are affected could lead to legal problems as well. Real-time communication is needed on job sites so that your milestones and deadlines are met.
Managing Cash Flow and Getting Paid
Getting paid is one of the biggest challenges in the construction industry. However, it’s one thing to struggle to get a payment at the hands of your client, but it’s another thing to struggle to get paid because of your own failure to keep consistent and accurate records. Keep your records updated and in an easy-to-access location. This is also important for maintaining your cash flow. If you aren’t keeping thorough records and sending out your invoices in a reasonable timeframe, you’re only delaying your own payday.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.