There are many ways to build a detailed subcontractor prequalification process. Today, companies have an array of options, from simple forms to robust third-party platforms.
Whichever you choose, your process should include:
? Initial underwriting on standard metrics (stability, past performance, safety, financial health, ethics, compliance, etc.)
? Additional assessment of higher risk trades (e.g. curtainwall) in terms of setting approval authority and limits
? Additional assessment of potential subcontractor risk in new markets/geographies
? Setting overall company risk tolerance, both in terms of capacity and mitigation strategies
? Establishing clear process for review and approval of exceptions
? Setting a cadence for updating subcontractor qualifications: annual, bi-annual, or quarterly
? Coordinating with project management to create feedback loops with onsite teams
From there, you can establish a database of prequalified subcontractors for your estimating team to choose from. Or, build a list for upfront evaluation prior to bid selection and contract award.