Do you have an Appetite for Risk?
You probably wouldn’t be in business if you didn’t. That is just one of the factors when considering the amount of insurance your firm should carry. Other factors include your ability to manage risk, the local legal climate, the type and number of projects you generally undertake, or the reputation of your clients. Insurance is a risk transferring mechanism and is a major investment. All firms want to minimize insurance costs but at the same time want to protect personal and business assets from catastrophic claims. It is best to spend quality time with your insurance broker to evaluate your layers of coverage and limits.

Ever Have Projects Involving Hazardous Conditions or Materials?
Engineers involved in these types of projects must address risks not normally encountered by engineers who customarily provide only design and construction phase engineering services. It could include direct management of construction forces, responsibility for jobsite safety and procurement of materials and equipment. Before entering into such a situation you should identify the applicable laws and regulations and decide whether they require modification of normal contractual arrangements. Such laws vary from state to state and the consequences for non-compliance can be severe.

A Characteristic of High Performing, Highly Profitable Companies
Studies have shown that firms that commit to training in the process of project management do better then those who have traditionally concentrated on events or milestones. For example, as exchanges of information occur between internal project teams; the team checks for completeness of the information at the time of the exchange. Money spent there pays off rather than error-checking or reworking downstream. Another characteristic is performing functions in parallel rather than sequentially even if you must start with incomplete information. Effectively implemented this approach can result in a double win for your firm. Clients see the value in efficiency and are willing to pay for it and the firm gains internal efficiencies and increased fees.

Let’s Have Some Sympathetic Cooperation Here!
Other than just payment of compensation an unwritten duty of the client could be stated as sympathetic cooperation. They should give due consideration to all documents placed before them by the engineer. Inattention to such matters can result in failure to understand the work and possibly disappointment and expense. Clients rarely realize how much time is lost waiting for them to examine papers or make up their mind when a quick decision is necessary. If you can get your client to adhere to this approach, your chances are good that you will end up on terms of cordiality at the finish of your project.

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