By Rich Sghiatti for Old Republic Surety
It’s been a topsy-turvy period for contractors, but one thing I stressed back in November hasn’t changed: Project managers need to have a backup plan. That’s a given, regardless of the times, but it’s been especially critical during the pandemic, when uncertainty has been the operative word.
Smart managers must assume there will be disruptions and build that into their planning. You have a much better chance of delivering your project on time and within budget if you anticipate delays and shortages. Materials that you might normally expect to receive in a few weeks are now taking up to six months to get, and prices have gone up tremendously for certain items.
Contractors can stay on top of the supply chain if they plan effectively. Firms that utilize critical-path scheduling and take advantage of the latest project management software are probably going to do fine. But if you’ve put off modernizing your planning, estimating and takeoff capabilities, now is the time to invest in a system that can help you stay on top of a very dynamic market.