Resources

Blog

Protecting Your Investment

A construction project for your school district is a huge undertaking. There is a massive investment of money, resources, and time that is being expended and you want to protect that investment to the best of your abilities. No one wants to see their time and money wasted because they didn’t properly prepare to safeguard their investment. 

There are many things you can do to protect your investment. Obviously you want to be adequately insured for any and all possible crises that might come up. And you certainly want to plan for things like labor shortages and supply chain delays that often plague construction projects. These are some other important steps you can take to protect your monumental project.

Documentation

The first and most crucial part of protecting your project investment is documentation. It is imperative that you have all documents easily saved and accessible for recall at any moment. Everything from contracts, to equipment rental agreements to RFIs could be needed anytime and should be readily available. This protects your investment both during the project and when the project has ended. It is also a must in the case of possible litigation. Owner Insite makes all documentation available in four clicks or less.

Physical Safety

Keeping a safe job site is imperative for protecting your investment. Injuries and accidents slow down a project and make for an unsafe job site. Doing things like installing adequate lighting and fencing, posting safety signage, and keeping equipment secure all help to create a safe and effective job site. A safe job site is a productive job site, and a productive job site moves along on schedule.

Planning Ahead

Having a solid plan in place ensures everyone is on the same page, and things are not happening that is a surprise to anyone. For example, scheduling your deliveries ahead of time when there is someone to take charge of them helps prevent theft and loss of materials. Sticking to your project timeline and making allowances for updates and changes as they happen help keep a small hiccup from turning into a major crisis. Good planning is an excellent safeguard for your investment.

Communication

Good communication is the foundation of a successful project. The best way to protect your project investment from delays and setbacks is to keep everyone in the loop about changes and updates. An informed team keeps things running smoothly and keeps issues to a minimum. Owner Insite automatically communicates any changes in activities, milestones, or project timelines with an email notification.

Protecting your investment is a top concern when undertaking a large construction project for your school district. With some careful planning, good communication, proper documentation, and physical safety precautions in place, your project should be well protected.

Owner Insite was created with features to help you protect your investment and see you through your project from pre-planning to post-completion. Contact us today for a free demo.

You May Also Like