It’s the way that things build momentum from something seemingly small and insignificant, to something larger. Often the snowball effect can spell DISASTER.
Time is one way for things to get out of control. In today’s video, we talk about time management, and how, no matter how good you are at managing your time, inevitably there’s someone below you who disrupts your schedule. Watch the video to find out more, or continue reading.
The construction industry is a pyramid of hierarchy, which is the perfect breeding ground for snowballs to go from small to very large, very quickly.
At the top you have the client. These are often corporate, oil and gas companies, developers, the government, mining companies, etc. These guys award the contract to one large construction company.
These large construction companies, AKA Tier 1s, are typically finance companies.
WHAT?! But they’re construction companies?
Here’s the deal… They may look like construction companies, but they’re more like finance companies. Typically they farm out the work to subcontractors and do very little of the work themselves.
So subcontractors are under the Tier 1s, and there can be quite a long chain of these businesses.
You can see how this creates a pyramid of workflow?
The client wants things done on time.
They put contracts in place to make sure this happens.
You have to make sure that no matter what, you are protected from time delays that are caused by others.
Because when your subcontractor is late, you’re late.
You need to make sure that you protect yourself with your contracts.
Make sure that what you need to do in your subcontract is back to back with your head contract.
So, if you get hit with liquidated damages your contract covers this.
Basically, protect yourself whereby the person below you is accountable through the contract.
For more contractual advice, Quantum Contract Solutions is here to guide and assist you through everything contract related. Let’s reduce risk in your contracts and save time and money, just click this link to get our FREE case study to show you how clients just like you are doing it.
