Keeping the paper trail
An article in the latest issue of US-based Constructor magazine entitled 'The Electronic Paper Chase: What You Don't Save Can Hurt You' outlines why companies need effective systems for document retention in order to meet new 'e-discovery' laws.
Two key points I took away are that businesses must act now to set up systems and policies for document retention; and that failure to comply with the new rules by not providing electronically stored information will likely see firms lose any legal case.
The issue of document retention has huge legal, as well as operational, implications for construction projects. And the larger the project, the greater the exposure to risk resulting from not maintaining a complete archive of documentation and correspondence.
Most online collaboration tools provide detailed audit trails and don't allow files to be deleted for any reason. One of our clients, a senior project manager on a multi-billion dollar hotel development, was recently asked by a journalist how important the document collaboration system is for his project. He said:
"Although it is often understated, a very significant feature of Aconex is that deletion of records is not possible. This means that we have easy access to critical information that may result in significant benefits such as cost savings, for example. In addition, access to important information means that certain issues can be clarified factually quickly and easily."
This wasn't the answer I was expecting - his project has any number of operational challenges. However, considering the litigious world we all operate in, perhaps it's not surprising that he sees the real value of web-based document management as being in risk reduction.
If anyone has a horror story about lost documents on a project, we'd like to hear them.
Labels: Good practice
