Risk Mitigation

At the P2Pv conference the presenter suggested we have a compliance officer… what does that even mean?

It was in reference to someone appointed by the company to oversee and do the mandatory tracking and reporting on requirements such as OSHA 10, track required certifications, attend mandatory job site meetings, manage the project closeout documentation processes, track any contracts with specific provisions for insurance or similar things.  We often assume one project Read the full article…

We struggle to have our frontline people conduct a “proof-of-performance” closeout procedure effectively because every client is different and the systems we provide are unique. Do you have any suggestions on how to be more systematic to avoid the risk of not meeting expectations and delaying final payment?

Yes! For one, include an explanation of the process and closeout procedures you use in the proposal or contract with the end-user upfront. Try not to use generic language that opens you up to subjective interpretation. Use industry closeout procedures and best practices; provide a timeline that maps out when the owner representative needs to Read the full article…

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