Construction Risk Management: An Alternative to a Payment and Performance Bond
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Proactively manage the risk in your construction lending practices.Learn the components of a successful Construction Risk Management (CRM) program. An improving economy has meant a marked upturn in commercial construction. However, with that greater opportunity comes greater risk: increased regulatory governance by the FDIC and the OCC, and the tighter credit climate accompanying the recovery have combined to make risk management in construction lending an even greater priority. Given the commercial real estate losses incurred during the Great Recession, lenders are particularly sensitive to construction financing in this rebound. This timely topic will define and describe the components of a good CRM program and will enable you to proactively and comprehensively manage, as well as mitigate, your construction risk.
AuthorsJoseph (Joey) Bonin Jr., Partner Engineering and Science, Inc.
• What Is Construction Risk Management (CRM)?
• What Is Included in a CRM Program?
• What Are Some Common Problems?
Document and Cost Review
Construction Progress Monitoring
Funds Control and Disbursement
• Government Approved
Case Studies and Problem Solving