John Moriarty & Associates of Virginia (JMAV), a construction firm in Arlington, Va., with work stretching across the Eastern seaboard, has found that implementing streamlined processes in preconstruction to better define and analyze risks upfront can bridge the divide between the proposed budget and actual spending. With JMAV being a contractor who negotiates all of their work, having a strong process in place for bid management is critical to their success.
Technology can play a crucial role in providing up-to-date information on construction risk factors and streamlining prequalification and bidding/estimating workflows. With BuildingConnected and TradeTapp within Autodesk Construction Cloud™, JMAV can minimize risk through a hands-on approach during preconstruction to ensure the right subcontractor partners are chosen to execute the project successfully.
“We never want to be in a situation where we are working with unqualified subcontractors. Our clients rely on us to pick the right subs for their projects. Early engagement in subcontractor risk assessment is critical to ensuring a successful project for all stakeholders.”
JMAV has adopted a culture of risk awareness, which has influenced change throughout the company and across the industry. Rather than a separate risk department, risk management is integrated throughout the entire project cycle, evenly distributing the responsibility of sharing information.
Utilizing BuildingConnected and TradeTapp enables JMAV to analyze financials and backlogs when evaluating a subcontractor before awarding a contract so that they can identify potential problems. With insight into a subcontractor’s financial health, short-term and long-term commitments, and operational risk and expertise, JMAV can flag risk earlier in the bid management process.
TradeTapp gives JMAV visibility into warning signs while vetting subcontractors, allowing the firm to evaluate the health and safety of a subcontractor to impact the overall success of a project. This knowledge is valuable not only for JMAV but for the client-owners they work with as well.
In managing risk across TradeTapp and Building Connected, JMAV has realized significant benefits, including developing strong relationships with trusted subcontractors, increased and open lines of communication with client-owners, and a repository of historical project data to evaluate subcontractors to mitigate risk.
“Thanks to TradeTapp, our prequalification process has become streamlined and collaborative. Before, it was managed manually by a couple of different people; maybe one of our principals had met with a principal at another subcontractor and seen their financial statements. But by using TradeTapp, it allows us to share up-to-date information with leadership much more effectively across the entire company, to ensure we have reliable subcontractor partners.”
FIRM SIZE :
FIRM TYPE :
FOCUS AREA :
Winchester, MA, US