Manage Potential Change Orders = Minimize Risk of Lost Revenue
Summary
Now time to process lessons learned, by reviewing your budget versus actual costs to determine if any areas need attention for the next project. After further investigation, you realize that you forgot to submit for a change order, and any hopes of recovering those costs are probably gone because you just received the final payment. Establishing the communication standards at the onset sets expectations for everyone on the project, and eliminates frustration when approvals are slow in coming. Clarity: Find a means to deliver the PCO requirements with clear and effective dialogue, and details if needed. Trying to manage an ongoing, ever changing list of PCO’s and CO’s in Excel or worse via email is not efficient and can be time-consuming trying to reconcile with actual costs and approvals submitted for payment.
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