As a reputable Orlando construction lawyer law firm, we know that finishing a project late can be disastrous. Finishing late means more money spent and your clients will be disappointed. Not to mention, you could end up in a dispute because of the delays. However, you can finish your project on time using our list of strategies as a starting point. For the first few tips, read part one of our article.
Strategy 4: Make Sure Finances in Order
Strong finances are the backbone of a successful project, without it, you risk many interruptions due to a lack of or steady cash flow. Finance-related delays can be prevented when you request proof of financing, review lending agreements, and understand payment and change order stipulations in your contract.
Strategy 5: Communicate Clearly
We can’t stress enough the importance of communication on construction projects. Many disputes and increased risks are linked to miscommunication and a lack of information management. With so many moving parts, a strong communication system is a must. Establish clear project objectives, communicate goals in leadership as well as with team members, and implement a documentation and correspondence system before the project begins to ensure a seamless flow between everyone.
Strategy 6: Establish Clear Deadlines and Roles
Certain parties may know project deadlines, but this does not mean everyone down the chain of command knows. For this reason, clear deadlines and roles must be established. Find a place to post specific objectives, budget, deadlines, and scope of responsibility for everyone. It also doesn’t hurt to provide incentives for meeting deadlines.
The Result of Project Delays
One of the biggest issues with project delays is increased costs. As the project lags, you’ll experience a cost increase in areas like materials, labor, and equipment, just to name a few. Not only that, but delays can impact everyone including the public and the economy. For example, if you’re working on a public project such as a highway, the delay could affect work commutes, business delivery and services, fuel costs, and more. A stalled project basically delays the original benefit of the project. On the contractor side, your reputation and your bottom line can suffer.
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.