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Partnerships in LGSF – paving the way for a cumulative growth
By ridgexmetals.com

Partnerships in LGSF – paving the way for a cumulative growth

Partnerships in LGSF – paving the way for a cumulative growth

Partnering is a broad term used to describe a collaborative management approach that encourages openness and trust between parties to a contract. The parties become dependent on one another for success and this requires a change in culture, attitude and procedures throughout the supply chain. It is most commonly used on large, long-term or high-risk contracts.

Partnering in the Light Gauge Steel industry can be adopted for a one-off project or can be a long-term relationship over several projects (such as a framework agreement). The longer the contract, the greater the benefit of partnering as there is more opportunity for building working relationships, finding improvements and planning investment. Where a partnering relationship is for a specific project, it is known as ‘project partnering’. Where it is a multi-project relationship it is known as ‘strategic partnering’.

Successful LGSF partnering should enable the long-term integration of the entire project team for the mutual benefit of all, so the right partners must be selected.

What are some essential elements of a partnership agreement?

  • Commitment to partnering by the top management of every organization involved in the project.
  • The trust between all parties through personal relationships and open communication with mutual sharing and understanding of each party’s risks and goals.
  • A partnering charter developed jointly by all parties to the project identifies specific mutual goals and objectives of the partnering participants for continuous evaluation and review against the agreed-upon mutual goals.
  • Timely resolution of any disputes at the lowest level possible during the project.

How do you as an LGSF entity benefit by partnering with another?

Benefits to a stakeholder 

  1. Greater control of schedule and cost through close communication and regular evaluation of project progress.
  2. Higher quality through focusing on mutual goals by team members who are not sidetracked into adversarial relationships.
  3. The potential for a total claim-free project can be achieved through partnering. Lower administration costs can be achieved by the avoidance of case building and the use of outside counsel.
  4. Greater innovation through open communication and trust particularly in the area of value engineering and constructibility reviews.
  5. A higher profit potential for all participants resulting in a more efficient project delivery process.

Benefits to the construction manager and general contractor

  1. Reduced risk of delays and cost overruns by early and active involvement in issue resolution.
  2. Increased productivity by the elimination of adversarial relationships and case building. Reduced exposure to claims litigation through early low-level project resolution of problem issues.
  3. Greater profit potential.

Benefits to architect/engineering consultants

  1. Greatly reduced exposure to liability for document deficiencies through early review.
  2. Increased value optimization during conceptualization stages of both architectural and structural design phases.
  3. A cooperative effort to resolve problems early to reduce exposure to claims and litigation resulting in reduced administrative costs and increased profit potential.
  4. Increased technical & practical knowledge through close ties.

Benefits to subcontractors and suppliers

  1. Improved cash flow due to elimination of, or reduction in, disputes resulting in withheld payments. 
  2. Greater involvement in the decision-making process as an active team member in the project.
  3. Reduced exposure to, or elimination of, claims and litigation through early project dispute resolution.
  4. An increased profit potential through a “win-win” attitude.

As stakeholders of the LGSF industry, we at Stratus Steel, invite LGSF entities to collaborate with us! Our expertise lies in the design, manufacturing and installation of LGS Frames & accessories. We look forward to working with some brilliant professionals as well grow with you!

You can find our partner form here – FILL THE FORM HERE 

Or simply connect with us via work@stratus-steel.com or 9156551673 to get started!

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  • 09/01/2023

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