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Construction management (CM) firms providing professional managerial and advisory services on construction projects face multiple sources of risk. The development, implementation, and maintenance of a sound risk management program for the CM firm is not only a valuable part of the services a CM provides, but is essential for the financial viability and long-term success of the CM firm itself.
Schinnerer has created a new publication to assist policyholders providing agency CM services. Schinnerer’s Risk Management Primer for the CM Professional addresses the business, contracting, and professional practices of firms with respect to the particular risks CMs face.
Typically the CM provides services under direct agreement with the client and is independent of the design professional and general contractor or separate trade contractors. Therefore, it is important that the roles and responsibilities of the CM and the other parties—especially the design team—be adequately defined. Because CMs can have significant liability exposures for jobsite safety, construction means and methods, constructability, scheduling, and cost-related issues, special care must be taken to manage and minimize these exposures through the use of contractual provisions that appropriately protect the CM and clearly articulate obligations.
Schinnerer’s Risk Management Primer for the CM Professional is available through www.PlanetRiskManagement.com/constmgr.html. A limited number of printed copies are available to firms with agency-CM exposures. Requests for printed copies can be emailed to vos.RMeducation@Schinnerer.com.
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