TECHNOLOGY IN CONSTRUCTION RISK MANAGEMENT. Using Technology in Subcontractor Prequalification Management
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1 Workshop T4 Tuesday, November 19 9:00 a.m. noon and 1:30 4:30 p.m. TECHNOLOGY IN CONSTRUCTION RISK MANAGEMENT Using Technology in Subcontractor Prequalification Management Workshop T4 Presented by Maria Matamoros Vice President, Risk Management The Weitz Company, LLC Advancements in technology provide opportunities to improve risk management processes by improving the flow of information, tracking assets, monitoring compliance with policies and procedures, and visualizing problems in advance. In this session, construction risk professionals will demonstrate applications their companies are using to reduce risk with the use of emerging technologies. Learn how contractors are using technology to improve documentation, safety, compliance, and management of subcontractors and see how these same tools might be effectively applied in your company. Each presentation will be followed by a brief question-and-answer period. To print on both sides of the page, set your printer for duplex printing. Copyright 2013 International Risk Management Institute, Inc. 1
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3 Maria Matamoros Vice President, Risk Management The Weitz Company, LLC Ms. Matamoros has worked in the construction industry for 20 years. Since 2009, she has occupied the position of Vice President, Risk Management, for The Weitz Company and in her role has been involved in insurance, claims management, and risk management processes and controls, including subcontractor prequalification. Prior to occupying this position, Ms. Matamoros spent 10 years working in operations, managing more than a dozen high-end clubhouse construction projects. Prior to joining The Weitz Company, she spent 7 years in commercial construction administration roles in Ecuador, South America, on commercial construction projects. Before involvement in the construction industry, Ms. Matamoros held various positions in the areas of accounting, operations, and international commerce in the banking industry in Ecuador. Workshop T4 Ms. Matamoros is a graduate from the School of Business of the Catholic University of Santiago of Guayaquil in Ecuador and holds a master s degree in construction and real estate business administration issued by the same university in partnership with the Technical University of Madrid-Spain. Ms. Matamoros holds an insurance producer license in the State of Iowa for property, casualty, and surplus lines and a Construction Risk and Insurance Specialist certification from International Risk Management Institute, Inc. 3
4 Notes 4
5 Using Technology in Subcontractor Prequalification Management Workshop T4 Presented By: Maria Matamoros VP Risk Management The Weitz Company, LLC 5
6 Inconsistencies across the company Prequalified Subcontractors Region 1 Region 2 Region 3 Region 4 Region 5 Region 6 3 Resources Invested in Process Total Committees: 8 Total Committee Members: +/
7 Workshop T4 Duplication of Efforts Subcontractor form completion Entries into multiple internal systems Annual form completion and resubmission Committee meetings Managed by each office 6 7
8 Other Challenges Risk mitigation plan follow up Post completion performance evaluation information 7 Changes to Process & Technology Simplification of process and forms Reduction of people involved Electronic routing and archive Test run revised process Assessment of software options Implementation of ISqFt Prequalification Module 8 8
9 Preconstruction/Bidding Benefits 9 Bid & Prequalification management in the same system Centralized subcontractor database View, search, and filter capabilities 9 9 Workshop T4
10 Subcontractor Benefits Electronic submission Form completion and attachment uploads Annual update No cost to subcontractors Subscribed subcontractor capabilities 10 10
11 Prequalification Management Benefits 11 Customized forms Electronic solicitation Solicitation tracking & monitoring Search, sort, and filter Required fields minimize incomplete submissions Workshop T4
12 Prequalification Management Benefits 12 Electronic routing Controlled access to confidential information Internal note and calculation fields Annual renewal tracking & solicitation Export capability 12 12
13 Benefits for Risk Management Consistency High quality subcontractor pool Reduction of prequalification process cost Reduction of losses in our insurance programs Confidential information is secure Workshop T4 13 Things Learned Along The Way We continue to work on improvement Keep our end goals in mind Not one size fits all Many technology options Doing something is better than doing nothing
14 Questions? 15 14
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