The construction contract administration guide, we will look at what is required in terms of forming an effective and competent contract administration team that can oversee all processes effectively.
Here we have listed our 4 top tips for construction contract administration success.
Create a Superstar Team
As with most situations, having a great team is of utmost importance. Creating a contract management team that works together on logistical issues and successfully meet deadlines is imperative. This means that the optimal team should:
- Have great communication skills
- Be detail-oriented
- Be decisive
These skills will help your team to stay on top of the whole process.
In regard to experience amongst the team, it is best to have a senior person lead the team.
Team members can range from no experience to highly experienced. Having a mixture of experience levels means that the team should be able to cope with the workload of administering the construction contract.
Have a clear plan
Clarity around how the team will then manage your portfolio is essential. This means identifying each person’s key strengths and assigning work accordingly, taking into consideration objectives and timeframes. Contracts are a deeply important part of business operations, proper administration on is essential for:
- making payments and monitoring deliverables
- contracting with vendors that will be providing goods
- contracting with other firms for professional services
Proper evaluation of contracts is essential for understanding whether each is helping or hindering the facilitation of the businesses overarching goals.
Understanding the contract thoroughly will help you to create an effective plan. Once you understand the contract you can create systems and procedures that are too followed by the team members.
These systems can be built around particular contractual terms or deliverables. Building systems will mean that the administration of the contract will be smooth and effective when it needs to be. It is always more difficult to get things right if the team has not understood or built these systems at the start of the contract.
Stay up to date with Tech
Using the correct technology is essential if you want to stay organised and on top of your performance. When considering tech solutions some things to consider are:
- Size of portfolio and likelihood of growth – you need a solution that can accommodate growth.
- Data security
- User access
- Tech support availability
- Storage capacity
Embracing technology in this day and age is very important. In the construction industry, we are very slow to make changes and use technology. The right technology can make administering construction contracts much more effective. Training your team to use the software can be challenging due to the levels of understanding of technology amongst them.
To Sum Up
We love to hear from you. Please comment below to let us know your thoughts on construction contract administration. If you require these services please do not hesitate to contact us via our website, email, or on the phone. Our business focuses on the administration of all types of construction contracts.