Fall is a good time of the year to assess your risk management program in your Design firm. Projects are winding down for the winter and it doesn’t seem to be as busy as it was all summer long. Take the time to take a look at your risk management program to see what and if it needs some adjustments.
Quality Control – Does your firm have quality control procedures in place? If so, take a look at those procedures and determine what is working and what may not be working and make a change. If there are not procedures in place take the time to put some measures in place.
Sub consultants – Does your firm work with Sub consultants? If so, be sure to update your files with their current insurance certificates.
Client/Project selection process – Does your firm have a client and project selection process? If not this may be a good time to write down some details as to what project types and clients your firm will be working with going forward.
Contract – What type of contract are you using? If you are using Professional Association contract do you have the most current version. If you are using your firm’s standard contract when was the last time that was reviewed by your attorney? Be sure that the limit of liability and payment terms are updated as well.
There are so many factors that go into a good Risk Management program. The list above is just a few to consider. Additionally, here are some resources for assistance with a Risk Management program.
http://www.constructionrisk.com/
While Professional Liability does cover for design errors or omissions it is good to have some measures in place to prevent a claim. PUI Agency has many resources available for risk management as well, please call or email with questions.