Reducing fraud and theft on construction projects
The types of theft in construction"Theft and fraud take many guises in construction. It is often difficult to control as we depend on many people, subcontractors and suppliers." Theft and fraud take many guises in construction. It is often difficult to control as we depend on many people, subcontractors and suppliers. Project sites are often spread out and unsecured. Some forms of theft on construction include:
The cost of theft on construction projectsWhen we have theft we often only consider the direct cost of replacing the item. But the cost is often more than this. The cost may include:
"You need to be ever vigilant and ensure that there are checks in place that will detect when fraud or theft have occurred. " Preventing fraud and theft on construction projectsWhat you can do You need to be ever vigilant and ensure that there are checks in place that will detect when fraud or theft have occurred. Not only will this be a deterrent to potential fraudsters and thieves but it will enable steps to be implemented to prevent more theft. Doing simple material reconciliations on projects is a simple way of detecting stock losses, but it is also useful as a double check that all work and materials have been invoiced to the client. It also serves to detect excessive wastage. We have to place some people in trusted positions but it is important to realise that people’s circumstances change and we cannot know what financial stresses they may be experiencing in their lives, or what temptations they are unable to resist. It’s therefore important to ensure that where necessary there are 2 stage checks in place. In addition by knowing your employees and regularly talking to them you may be able to see the warning signs of potential problems. Staff need to be vigilant and understand how important it is to have checks in place and ensure that these checks and controls are diligently carried out. On project sites where theft is a possibility extra security measures may have to be installed such as cameras, fencing and security guards. High value and high risk items may need to be secured when not in use. Like this article – please comment, like and share it. Questions What is the worst theft or fraud you have uncovered on your project? What was the cost? How did you discover the theft? Is theft generally a problem on your projects? #constructionmanagement #contractors #constructioncontrols "Very useful guide regarding the management of the construction projects. Open, direct and insightful." (Reader 3 - Amazon.co.uk) To read more about the author’s books and find out where you can purchase them visit the pages on this website by clicking the links below:
'Successful Construction Project Management: The Practical Guide' 'Building a Successful Construction Company: The Practical Guide' Order your books from Amazon now 'Construction Book reviews' To read more about the author visit the page 'Paul Netscher' Want to contact Paul Netscher please enter your details on 'Contacts' Find out how Paul Netscher can help you © 2015 This article is not to be reproduced for commercial purposes without written permission from the author. construction management construction project management
1 Comment
Your comment will be posted after it is approved.
Leave a Reply. |
Archives
June 2024
Note: We welcome genuine comments, especially comments that add additional information to the subject matter in the article. We however reserve the right to remove inappropriate comments, which includes comments that have nothing to do with the subject, comments that include inappropriate language, and comments that are an advertisement for a product or company, or which include an advertising link. Comments must be in English. We will not enter into discussion on why a particular comment was removed.
CategoriesCopyright 2016 - The attached articles cannot be reproduced for commercial purposes without the consent of the author.
The opinions expressed in the attached articles are those of the writer. It should be noted that projects are varied and different laws and restrictions apply which depend on the location of the contractor and the project. It's important that the reader uses the supplied information taking cognisance of their particular circumstances. The writer assumes no responsibility or liability for any loss of any kind arising from the reader using the information or advice contained herein. "I have what I consider some of the best books on construction management."
Books are available from: Amazon.com Amazon.co.uk takealot.com kalahari.com Amazon.in Amazon.de Amazon.fr Amazon.it Amazon.com.au Powell's Fishpond uread bokus Amazon.ca Amazon.es Other retail stores Available in paperback or on Kindle "28 YEARS OF CONSTRUCTION PROJECT MANAGEMENT EXPERIENCE, DEVELOPING SUCCESSFUL CONSTRUCTION PROJECT MANAGERS AND BUILDING SUCCESSFUL CONSTRUCTION COMPANIES"
|