The Financial Keys Within an Executive Summary that Can Impact a Case

November 22, 2017 by  
Filed under Business Services, Legal

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Summary: In business, executives often only read the executive summary out of a large proposal. Follow this guideline to ensure your construction claims reader is fully informed when he or she reads your claim to maximize cost effectiveness.

In the case of a construction claim where the contractor is submitting the claim against the project owner, the reader of an executive summary is the owner’s executive. They should have a basic understanding of the project, the event that caused the claim, what the contractor wants, and why the contractor is entitled to it. The executive summary is the first line of defense in a good claim. However, in construction claim preparation, it may be the last step the preparer completes. It has six sections as follows:

  1. Title

This section outlines the project, the claim, the project owner, the construction contractors, and the date. It is just as its name suggests and identifies who is involved.

  1. Project Description

This should be no longer than one paragraph. It describes the parties involved, a general description of the overall project, and the work that is subject to the claim.

  1. Event

This section describes what happened and may include pictures or graphics.

  1. Proposal

This section lays out what the contractor wants from the project owner. It can include monetary compensation or simply more time to complete the project.

  1. Entitlement

This is where the contractor states why he or she has the right to file this claim.

  1. Summary

Restate what happened and how it affected the contractor’s project schedule.

As you can see, executive summaries are a crucial part of a claim. They hold a lot of important information and brief the reader on what’s to come. Firms like Lyle Charles for instance, can provide you with assistance on how to proceed with your executive summary.