Published 01st February 2011 by Constructing Excellence
The Constructing Excellence Economic Task Group, chaired by Steve Vickers of Birmingham City Council, identified that in the current market conditions there is a significant risk of subcontractor and supplier insolvency, especially amongst SME businesses (and that this risk could worsen when the upturn comes due to subeconomic bidding and rising labour and material costs). It was recognised that this issue could have a direct impact on all Constructing Excellence members involved in project delivery. The negative impact that insolvency can have on a project is significant both in terms of cost and programme.
Filed in: Collaborative Working, Procurement