Every general contractor (GC) knows the importance of prequalification for subcontractors, suppliers, and vendors. An entire project can be derailed when signals are missed as it relates to a partner’s ability to perform their tasks for the project team. Prequalification involves assessing the capabilities, experience, and financial stability of potential partners before entering into a contractual relationship with them. While prequalification offers many benefits, it also presents some challenges. In this article, we'll explore the benefits and challenges for GCs with prequalification. Challenges of Prequalification for General Contractors: Interested? Learn more here or talk to an expert!
Benefits of Prequalification for General Contractors:
Prequalification is a crucial step for GCs to ensure predictable and successful project outcomes while mitigating risk. By maintaining a consistent and repeatable prequalification process, GCs can improve the quality of their partners and the overall success of their projects. With Constrafor's new Prequalification module, General Contractors can streamline the prequalification process of trade partners to ensure the verification and validation of their capacity to complete a project.
Prequalification: Benefits and Challenges for General Contractors (2024)
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