The high prevalence of risks in construction projects brings vast damages. The parties involved in the construction project can only avoid the foreseen risks and damages. They cannot do much in the case of natural hazards and issues. The damages slow down the progress of work, in addition to causing monetary loss to the involved parties.
Most of the time, the parties involved in the construction project indulge in conflicts regarding the responsibility of damages. The situation becomes worse to the point of claims and legal handling. However, before proceeding with it, quantifying the damages is quite necessary, as it provides a clear idea about the statistics of loss and damages.
This article will help you learn the ways of performing damage quantification in the construction projects.
Top 4 Expert Strategies to Quantify Damages in Construction
Damages can occur at any time and stage of construction projects. The very first thing that the involved parties need to accomplish is quantifying them. It means to assess the scale and probability of the damage. Doing this requires expertise or at least expert methods to make the right assessment and follow the procedure accordingly.
The following are some of the ways experts utilize in quantifying the damages in the construction projects.
1. Analyze Direct Damages
The very first expert strategy of quantifying the damages in the construction projects is to analyze the direct damages. The analyzers need to visit the whole construction site, as well as a number of projects being completed at the same time.
After that, you need to make a list of the damages which are right ahead of you, as well as those, which can occur at a later stage due to the problems caused now.
2. Review Cause and Effect of Damages
The second strategy experts utilize to quantify damages in the construction projects is to review the cause and effect of the damages. Identifying the causes of damages holds significant importance in dealing with claims and other legal issues.
Moreover, it can help you identify the role of the responsible parties. Similarly, identifying the effects of damages is essential to make arrangements for the future and avoid unfortunate happenings.
3. Evaluate Extended Project Cost
Damages bring a vast range of after impacts for the parties involved in construction projects, and extension in cost is the most prominent among them. Therefore, the next strategy experts utilize in quantifying the damages is the evaluation of extended project cost.
It will include the cost of preparing the project after damages as well as completing the construction work on it. Moreover, if the parties try to complete the project in the set deadline, they will have to engage more resources, which will further increase the project cost.
4. Asses Labor Productivity Loss
One of the most important strategies to quantify damages in construction projects is to assess labor productivity loss. After the occurrence of damages, the project sites often require maintenance, as well as a little time to settle the changes.
During this time, the labor force cannot complete their work. Moreover, the damages can be life-threatening and make the labor force to step back from production work. It causes labor productivity loss to the project owners, which should be calculated efficiently.
Are you starting a new project in the UAE?
The UAE is enjoying a boom in the construction industry due to the onset of Dubai expo 2020. If you are also starting a project there, it is a great opportunity of earning profit. However, you need to be well prepared for any type of unfortunate happening.
Moreover, the unfortunate happenings can bring lots of claims which can waste your time, energy, and resources. So, you can acquire the services of construction claim consultants in Dubai and prepare well beforehand to deal smoothly with any problems.
You can ensure to resolve the claims smoothly and quantify the damages with the help of experts. So, do not wait for the time and sat well prepared for any type of incident.