Why should Contractors engage Claims Consultancies in spite of inhouse Contracts Team?
Who is a Construction Claims Consultancy?
A professional firm that provides independent and objective analysis, advice, and support for construction claims management.
They are not affiliated with any of the parties involved in the project, which allows them to provide impartial and objective recommendations.
Claims consultancies have specialized knowledge and expertise in construction claims and dispute resolution, enabling them to offer comprehensive and effective support for construction claims management.
Benefits of Construction Claims Consultancies
Objectivity: One of the main benefits of using a claims consultancy is their impartiality and objectivity. They are not tied to any particular party or project and are able to provide independent and unbiased recommendations. This can be particularly valuable in complex and contentious claims, where emotions and tensions can run high.
Expertise: Claims consultancies have specialized knowledge and expertise in construction claims and dispute resolution. They have extensive experience in the field and can provide comprehensive and effective support for construction claims management. This is especially valuable in cases where in-house contract specialists may lack the necessary expertise to manage complex claims.
Cost-Effective: Claims consultancies can provide cost-effective solutions for construction claims management. By providing expert support, they help resolve claims more quickly and efficiently, reducing the overall costs and duration of disputes, especially in complex claims where legal fees and expenses can be significant.
Access to Resources: Claims consultancies have access to a wide range of resources, including industry-standard software and databases, to manage and resolve construction claims. They also leverage networks and connections in the construction industry to provide additional support when needed.
Independent Perspective: A third-party claims consultancy can offer an independent perspective on construction claims, helping identify issues and solutions that may not be apparent to the involved parties. This can prevent disputes from escalating and help resolve claims more effectively.
Even with In-house Contracts Teams, Claims Consultancies Provide Value
Even with in-house contract specialists, third-party claims consultancies offer significant value. They provide impartial analysis, expert knowledge, and effective dispute resolution strategies that enhance claims management and ensure a smoother resolution of disputes.
By offering an independent perspective and utilizing extensive resources, claims consultancies streamline the claims process, minimizing the potential for disputes to escalate and reducing project delays.
Industry Changes and the Role of Third-Party Consultants
Project management approaches are evolving. Traditional waterfall methods are being enhanced by iterative development models like Agile, which breaks down project development into isolated phases that flow into each other while advocating for iterative development cycles.
While PMOs or in-house teams may have limitations, third-party consultants can go beyond these constraints. They collect valuable inputs, conduct frequent interviews with all stakeholders, and explore endless possibilities, offering solutions both prospectively and retrospectively.
Conclusion
In-house contract specialists are essential for project success, but third-party claims consultancies offer additional benefits. These firms bring impartiality, expertise, and access to resources that help manage construction claims efficiently and effectively.
Engaging third-party claims consultancies ensures better management of complex claims and leads to smoother project execution and timely resolution of disputes.