17 Apr Importance of a Performance Review
It can be tempting to skip the contractor performance review – after all, the work is already finished so what can you gain from prolonging your involvement? But this step is a critical one for both the contractor and your company. Here’s why:
Improve Your Contractor Management Processes
Reviewing the project after completion allows you to see where you did well and where you could have improved – and soliciting feedback from your contractor is a good idea, too.
You might discover, for instance, that your prequalification process was tedious and should be streamlined. Or maybe you realize that you need to develop a better system for communicating with your contractors.
Looking back once a project is finished lets you see more clearly whether there are any inefficiencies or unnecessary speed bumps in your contractor management (learn more about Contractor Prequalification: Top 5 Purchaser Behaviors to Avoid).
Helps the Contractor Improve
Most contractors want to provide the best service possible, but they can only do so if they receive constructive feedback.
Having an open and honest review session after the project is complete allows you to build on your relationship with the contractor and provide direction for potential future collaborations.
It can also be useful for others who are considering hiring the contractor, as many companies consult previous performance reviews when making their hiring decisions.
Benefits the Entire Company
If you think performance reviews only benefit the few individuals involved with the project, think again. From scheduling and setting expectations to regulatory issues, many of the lessons learned during performance reviews can be applied to other projects, too, which could save the company time, money, and resources.
Don’t Skip the Review
Post-project reviews are often informal, and it’s okay if you want to use a standardized evaluation form to ensure you don’t miss any key details. But the key point here is: please don’t skip the step altogether. It’s one of the best ways to evaluate your own processes and ensure that things go better the next time.