RISK MANAGEMENT GUIDANCE
Although the client will have the final say in the selection of a contractor for a particular project, unless that project is designer-led design-build, the design professional plays a vital role in providing clients with information to assist them in their selection of a contractor.
Factors to consider when evaluating a contractor include:
• compliance with requirements from a prequalification list;
• approach to the bidding process, if an open bid project, and adequacy of the bid;
• financial strength of the contractor; and
• experience with project type.
Using the four evaluation factors above can help identify areas of potential risks with any given contractor. For more information on factors to consider when evaluating a contractor, please refer to the Risk Management Matrix on page 49 .
26 • From Risk to Profit - Benchmarking and Claims Studies
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