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Increasing Prequalification Rates to 90% Pre-award

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Description

Contractors with subcontractor default insurance programs face ever increasing risk from varying sectors: COVID-19 recovery, recessionary concerns, and rising costs of supply and labor. Ensuring that projects are awarded to the right subcontractor is paramount to deterring potential defaults. The combination of BuildingConnected and TradeTapp has led to a 90% prequalification rate in advance of award. By working bid packages with operations, risk management can detect potential problems and mitigate in pre-award.

Key Learnings

  • Learn how BuildingConnected and TradeTapp create transparency with ops on risk status of subcontractors during the bidding process.
  • Learn about working bid packages with operations to ensure all stakeholders are all involved in the prequalification process.
  • See how potentially risky subs are identified pre-award, allowing time for proposed mitigation plans if necessary.

Speakers

  • Candy Kong Kee
    Candy is a seasoned risk management professional with two decades of experience in the construction industry. Over the past eight years at Webcor, she has been instrumental in developing and enhancing their prequalification program.
  • Andrew Suozzo

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Tags

Product
BuildingConnected
Industries
Civil / Site development contractors
Finishing contractors
General contractors
Topics
Data Management
Project Manager
Cost Engineer
Construction Coordination
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