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In this episode, I talk with Maegan Spivey, contracts specialist at Document Crunch, about the impact of understanding contracts and the role of AI in making contract management more efficient.
***The video version of this episode can be viewed here.***
Engineering Quotes:
Here Are Some of the Questions I Asked Maegan:
- Could you explain what it means to be a “construction contract encourager” and how you work to make construction contracts less intimidating for industry professionals?
- With your experience in both general contracting and subcontracting, how do you see the key differences in managing contracts from each of these perspectives?
- How do you balance accepting a contract that might have unfavorable terms with the need to understand and manage the associated risks for your business?
- How do you ensure contract compliance within your workflows, and what tools or strategies have you found most effective in making this process smoother and more accessible for your team?
- How is AI transforming contract workflows in the construction industry, and what impact does it have on improving efficiency and job satisfaction?
- What are some common risks or pitfalls that construction professionals face when they don’t thoroughly read their contracts, and how can they avoid these issues?
- What final piece of advice can you offer on effectively using AI tools to streamline contract management while ensuring no critical details are missed that could lead to compliance issues?
Here Are Some Key Points Discussed in This Episode About How to Use AI Tools for Better Contract Management:
- Being a “construction contract encourager” means empowering engineers to take an active role in understanding and engaging with contracts, rather than relying solely on attorneys. By making contracts clearer and more approachable, engineers can navigate them confidently, enhancing their effectiveness in the field and creating stronger business relationships and outcomes.
- Standardized documents like those from AIA or EJD highlight key differences in managing contracts between general contracting and subcontracting. For general contractors, these documents ensure balanced relationships and clear obligations, leading to better project outcomes. For subcontractors, they provide clarity, protection, and effective communication throughout the project.
- Subcontractors must carefully assess the risks outlined in contracts, even when they feel pressured to “just sign it” to secure work. Understanding and managing these risks is crucial to protecting the business and ensuring successful project outcomes.
- Effective contract compliance starts with clear communication and understanding of the work involved before the contract is signed. Utilizing tools like AI can simplify access to contract details, ensuring that everyone involved can easily find and act on the necessary information throughout the project.
- AI plays a crucial role in transforming contract workflows by automating complex tasks, allowing professionals to focus on more meaningful work. It helps streamline processes, reduce time spent on manual tasks, and improve overall efficiency in managing contracts.
- Failing to thoroughly read a contract can lead to taking on unreasonable risks and potential financial losses. It’s crucial to understand all terms to avoid situations that could severely impact your business.
- Specializing in using AI tools for contract management in niche areas, like energy-related projects, can give contractors a significant advantage. This expertise ensures that no critical details are missed, which is crucial for maintaining compliance as regulations evolve. By focusing on and adapting to this specialization, contractors can gain leverage in negotiations and unlock substantial opportunities.
More Details in This Episode…
About Maegan Spivey
Maegan Spivey currently serves as a contracts specialist at Document Crunch, an AI-assisted contract intelligence platform, where she works on the Industry Solutions Team to uphold the connection between the platform and its practical implementation in the construction industry.
Every day, Maegan uses her love of construction contracts to support other teams in the company and serve customers, ultimately leading to a supercharged construction contracts workflow. As a self-described “construction contract encourager,” Maegan is passionate about making contracts less intimidating by actively sharing insights on how businesses can leverage contracts effectively, improve their processes, and understand what their contracts say. She has also made it her mission to emphasize the significance of reading contracts thoroughly, contributing to a more informed and empowered construction community.
With a construction background spanning retail, multifamily, and turnkey energy solutions, Maegan brings a wealth of experience from both the general contractor and subcontractor perspectives. Her professional journey has included diverse roles such as assistant business manager, energy services at Climatec, and accounting and bid coordination in commercial contracting companies. Additionally, Maegan has experience as a freelance contracts manager, where she collaborated with businesses in reviewing contracts and implementing contracting procedures to manage business risk from pre-signature contract review to project team contract use.
Maegan holds a paralegal certificate from the University of Arizona, a Bachelor of Science in Business Administration with a marketing concentration from California State University, Sacramento, and an Associate of Arts in Liberal Arts & Sciences from Las Positas Community College.
With her comprehensive understanding of the construction industry and dedication to improving contract workflows, Maegan continues to make a significant impact in her role as a contracts specialist at Document Crunch.
About the Host: K. James Taylor, Jr., P.E.
K . James Taylor, Jr., P.E., is a licensed professional engineer and an associate vice president at Verdantas, an emerging environmental, engineering, and technical consulting company with a green, sustainable, and people-first approach in the foreground. James has over 17 years of experience in civil engineering in the land development and municipal fields. Land development services include the design of subdivisions and site plans for compliance with local codes and ordinances, civil/site engineering, stormwater management, road design, and utility design. James has served as a project manager since 2018. In 2021, James was recognized with the Outstanding Project Manager Award at Duffield Associates (now Verdantas) for outstanding performance as a project manager and his consistent display of leadership traits valued by the company, including scheduling, management, proactive communication, collaboration, responsiveness, and client-focused service.
James was selected as the 2021 Young Engineer of the Year by the American Society of Civil Engineers (ASCE) Delaware Section, and served as the President of the Delaware Engineering Society and the New Professionals Director on the NSPE Board of Directors from 2021-2023.
Sources/References:
Document Crunch
AIA (American Institute of Architects)
Electri
AEC PM Connect
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We would love to hear any questions you might have or stories you can share on how you use AI tools for better contract management.
Please leave your comments, feedback, or questions in the section below.
To your success,
Anthony Fasano, P.E., LEED AP
Engineering Management Institute
Author of Engineer Your Own Success
