By: Kim Slowey
Ed Seglias spoke with Construction Dive about key elements contractors need to consider before signing onto a project. The article, “5 Red Flags That a Job Might Not Be Worth the Risk” outlines potential red flags for those taking on construction projects.
Most contractors are resilient, riding the ups and downs of the economy and doing whatever it takes to survive. This sometimes includes taking on low-margin or even no-margin projects just to keep the cash flowing and their employees working.
Now that the COVID-19 pandemic has put the construction industry, like many others, into a tailspin, some contractors will be faced with the decision of whether to take on a job that seems riskier than normal. No construction job is without some uncertainty, but there are some red flags that construction firms should recognize and evaluate, making the choice of whether to accept a borderline project at least a more educated one.