Paying a Price Even When Innocent?
2017 ACEC National Convention Panel Discussion
Too often firms are unfairly held accountable for problems because documents absolving them cannot be located. Further, a dispute could put the company at financial risk as countless unbillable hours and dollars are spent in discovery, searching through tens of thousands (or more) of emails, files, and other electronic media.
This discussion featured four design and engineering project risk experts sharing insights into ways to protect your business. The panelists focused on four topics:
- The primary source of project risk
- Why it’s getting worse
- The consequences
- How to reign in risk: three key areas to address
The outcome: multiple perspectives on the problem, and tangible takeaways.
Meet the Panelists:
Brent Gurney, Partner, WillmerHale
“You have an opportunity at the early stage to take a position and head off what comes next.”
Shannon Kaplan, Director of Best Practices, and Engineer, AFK Group
“It’s a little more investment up front, but it pays off in multiples of dividends.”
John Rapp, Managing Director, A/E Professional Liabilities Group, Travelers Insurance
“Once you have a claim, underwriters look at the likelihood of future claims – impacting future premiums.”
Tyler Ferguson, Director of Industry Solutions, Newforma
“The discovery effort could go on for two to three years, costing absurd amounts of money simply to organize data so attorneys can make sense of it.”
Download the synopsis, or contact us to learn more about how you can protect your firm from needless, costly litigation.
Newforma makes it fast and easy to resolve project disputes, before they escalate to litigation. With Newforma Project Center software, collaboration amongst architects, engineers, contractors, and subcontractors is fast and easy.
Newforma indexes all project-related files regardless of where they reside, enabling its universal search capability to quickly pinpoint dispute-related emails, files, and records– even annotations on drawings. Upon completion of the project, Newforma compiles a complete, searchable project record that enables fast resolution in the event of future disputes.
Newforma has been used by more than 1,350 leading architecture and engineering firms, including 184 of the ENR 500, supporting collaboration on more than 2.5 million complex building projects worldwide, from small scale projects to Burj Khalifa, the worlds tallest building.