It’s Scary Out There! Three Ways to Mitigate Project Risk Through Fund Control
You know the feeling — when your heart pounds against your ribcage, the hairs stand straight up on the back of your neck and cold fingers slip down your spine.
No, we’re not talking about a ghost encounter — we’re talking about something much scarier. If you’re a construction project manager who is feeling the cost, schedule and scope of a project creeping up on you, who you gonna call? QuickDraw!
QuickDraw Fund Control is there to help identify and correct discrepancies in paperwork, schedules and performance before they lead to additional costs and project delays. Here are three ways that QuickDraw mitigates risk so you can sleep with the lights off.
1. Knowing Vendors
You’re likely working with numerous outside vendors who perform work or supply materials and equipment for your project. These relationships can expose you to costs that are beyond your control and exceed your budget. Therefore, due diligence is critical. QuickDraw performs a deep dive on your construction budget ahead of time so that you know the total costs are sufficient to complete the project.
2. Monitoring Progress
Funding and construction progress are closely tied. After completion of a site inspection to verify the progress of work, QuickDraw works diligently to approve the payment request or suggest needed changes quickly. Informed communication allows the parties to address issues before they become problems. The goal is to always process and approve disbursement requests within five days of submission of a complete draw package.
3. Reassigning Resources
Getting a project across the finish line requires efficiency. Inaccurate budgets and completion schedules, incomplete plans, and an insufficient understanding of building costs can doom a project before it starts. QuickDraw can help by evaluating resources ahead of time and provide recommendations where they will be most effective. With continuous monitoring, QuickDraw’s experienced team can also propose where to reallocate resources to get a wayward project back on track.
Hey — it’s scary out there! When you work with QuickDraw Fund Control, there’s no reason to fear the chain-rattling spooks or chainsaw-wielding maniacs lurking on your project site. You know someone always has your back! As the trusted partner between lenders (banks, private equity firms and private individuals) and borrowers (developers, builders and contractors), QuickDraw Fund Control makes the fund disbursement process a positive experience for all!