How to Avoid Trouble in Building and Construction Projects (Part V)

We continue our series on how to avoid trouble in building and construction projects.

What is required in order to have a successful construction project?

Building and construction is necessarily a collaborative endeavour – there are many elements that need to come together in order for it to work successfully.

First and foremost you need a skilled and capable team:

1. Good architects
2. Good engineers
3. Good project managers and builders.
4. Good guys doing the shop drawing.
5. Good cash flow and funding.

Where can you go wrong?

But I’ve found that in this industry there are several pitfalls:

1. The competence of building and construction professionals.
2. The liquidity and ability of folks to pay. It seems to be a common practice in this industry that folks will receive goods and/or services and simply not pay for it – either out of unwillingness or an inability (or both).

My invective is necessarily harsh on architects on this point: bad architects are the bane of the industry, and are part of the reason why building and construction is notoriously expensive. I’ve seen many and there are but few worth their salt.

Now you know of the places where you can fall – you can take measures to maximize your likelihood of success.