You Can Manage Construction Risks

Colossal County Hospital was coming apart at the seams. With dozens of newly hired doctors, nurses, and technicians, millions of dollars of equipment on the road, and patient appointments backed up for months, the new facility was impossible to use. For one thing, construction wasn’t finished, and much of what was complete was faulty. Worse yet, the contractor had placed liens on the property for nonpayment, preventing occupancy. Costs had greatly outdistanced available financing. The hospital staff was frantic; the bank was apoplectic; the board of trustees was in despair.