The Risk Developers Keep Ignoring Until Too Late
This ‘blind-spot’ puts three months of progress payments at risk. The construction industry has embraced drone surveys, 3D modelling and AI project management, but still releases millions based on 19th century verification methods.
While almost every other aspect of construction has been digitised, payment verification remains stuck in the era of handshake agreements. More than 2800 construction companies went into insolvency in 2024 alone, yet the industry continues operating payment systems that would be considered reckless in any other sector.
Modern construction projects use BIM software that can model building components to millimetre accuracy, while sophisticated software is used to track every variation to material volumes and coordinate trades.
payment systems that would be considered reckless in any other sector
Author summary: Developers ignore payment verification risks.
More News
- Azerbaijan’s expanding gas network redefines regional energy politics
- Who knew that the public would end up supporting striking teachers? Not Danielle Smith and the UCP! - Alberta Politics
- Armonico Consort and Baroque Players to perform series of classics
- Mateusz Gamrot Releases His First Statement Following His Loss To Charles Oliveira
- What Arkansas interim football coach Bobby Petrino said on his radio show ahead of Texas A&M game | Whole Hog Sports
- Uncovering untold stories: Finding Lucinda » Sandpoint Reader
- Electric Island Expands with Five Shows and a Massive Lineup
- The Power of Fear: How Women Turned Horror into Empowerment
- ONLY ON 13: Relatives of family killed by drunk driver call for action
- Who won fashion month SS26 on social media?