You Can Never Start Closing Out a Project Too Early

So you just got awarded a brand new project and your raring to get started so what is the first thing you are going to do?  I am guessing that your answer was not “Start my closeout log”.  Even though it not likely one of the first things you think of when getting a project started it should be something that is on your radar early in the project.  Understanding and agreeing with your project team what the closeout requirements will be come the end of a project can truly reduce the heartache that is usually associated with project closeout

Setting Closeout Requirements for the Team

If your project is like most you will likely have a couple volumes of a project manual that tries to provide you with some direction on how to close out the project.  Between the project manual and the contract there should be enough information to get a good understanding of the requirements.  Some of these requirements will require information, inspections and reports that will need to be collected long before the documents are ever turned over.  This is another reason to understand this process early one.  Once you have an understanding of what the documents call for then you can have a conversation with the owner, design team and other stakeholders to understand if that is what they really want.  Often times specifications are re-used from project to project, from owner to owner and the items called for may not even be required.  By presenting the team with what the documents call for you can prove you did your due diligence and have an intelligent conversation about what the client actually wants.

Shortening the Closeout Process

Now that you have an agreed upon deliverable and you are still early on in the project there is plenty of time to collect the required information to ensure a smooth closeout process.  Subcontractors and vendors can be notified of requirements and given delivery dates required for the information.  All of this planning can lead to shortening the time it requires to collect all this data at the end of the project when we have millions of other things to worry about like turning the building over.  This also allows for staff to move onto new projects faster and reduce the overall cost of closeout.  Right about now we are guessing that starting your closeout early is starting to sound pretty good.

Collect Final Payment Faster

As if all of that was not enough reason to start your closeout early we will give you a few more, potentially a few million more, final payment.  As most project managers have lived collecting final payment can sometimes be an arduous task.  Usually this is due to some lingering documentation that an owner is holding your payment hostage for.  Sometimes it is something you may have not even known they were going to ask for.  With all of your upfront work and the information you collected throughout the project you will be well prepared for these requests and can turn over the documentation swiftly.  This leads not only to getting final payment but leaving a client with the best possible impression of how organized you and your organization operated.  It might even lead to more future work.  

If we haven’t convinced you already that starting your closeout process early is extremely important then reach out to us and we can show you how can help to plan and organize your project closeout process.  Our tools allow you to start early and track completion throughout the course of the project leading to the most efficient closeout process you could ask for.  

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