Construction is a risky business. During construction,
claims for personal injury, property damage and economic losses are
foreseeable and must be managed. After completion of
construction, warranty claims and claims for latent defects are
proliferating. Owners, developers and contractors must
proactively understand and manage these risks if they expect to
survive and thrive in today's increasingly complex construction
marketplace. Discussed below are five important strategies
for managing construction-related risks and positioning your
company for success in the context of construction claims and
litigation.
1. Avoid Inconsistent Dispute
Resolution Contracts. Owners, developers and
general contractors typically find themselves executing multiple
agreements relating to the design and construction of improvements.
Whether one is an owner contracting with design professionals
and one or more contractors or a general contractor contracting
with an owner and
