Owners: Get What You Pay For
As an Owner, a single non-conforming condition that survives the length of the project unnoticed can become a costly, even catastrophic, defect.
You paid for a project that is built to plans and specifications. Put simply, a non-conformance means something less than what you paid for.
Using digital construction photography and state-of-the-art online indexing and navigation, the Multivista Exact-Built™ system casts a “smart net” over your entire project, greatly reducing the chance of non-conforming conditions surviving through to completion.
Consider the impact of the following:
- On average, 10% of “error” is built into every project unknowingly by the subcontractors who perform over 80%, and often 100%, of the work that the general contractor manages; this means that you are only getting 90% of what you paid for under the construction contract.
- A Typical Defect Claim Costs $250,000.00 (Project Size: $20M) and can cost considerably more to litigate or resolve.
- Defect Claims typically take about 2 years to resolve; during which time, depending on the condition, the Owner may be losing rents, use or other measurable value.
Now consider that:
- Equipping your project team with the right QA/QC program can reduce unconscious error by an estimated average of 70%;
- Multivista is estimated to meet at least 33% of the requirements of a best practice QA/QC toolbox by providing your project team with a perfect, updating, living memory of every condition of your project, interior and exterior, from start to finish;
- Multivista thus contributes to over 1/5th of the recovery of lost value/diminution resulting from non-conformances!
The above information is based on studies provided by Zurich North America Insurance and University of Nevada Las Vegas.