ISN Publishes White Paper on Best-in-Class Contractor Management
ISN recently published its latest white paper titled, “What is Best-in-Class Contractor Management?” The white paper discusses “Contractorization” as a growing trend and offers insight into 10 strategic elements that characterize best-in-class contractor management systems.
Contractorization of operations is identified in the white paper as outsourcing non-core business activities to third- party contractors, ranging from construction and maintenance activities to security and catering functions. While Contractorization allows more specialized contractors to undertake tasks or projects in a safe, sustainable manner, the white paper maintains that a robust contractor management strategy is critical to effectively mitigating risk exposures from third-party outsourcing.
Research by the International Association of Oil & Gas Producers’ on the Upstream Oil and Gas industry indicates that over the last 25 years, contractor work hours have quintupled, while employee hours have only doubled. Increased contractor work hours heighten the risk for Owner Clients and emphasize the importance of implementing a sound and thorough contractor management process.
“Contractors are an increasingly essential part of our competitive business world. Qualified and competent contractors enable their clients to streamline their operations, optimize their cost structure and sharpen their focus on core competencies,” stated Joseph Eastin, President, ISN.
Contractorization is beneficial to contractors providing their information within a contractor management system. By centralizing their company’s health, safety and environmental information, contractors are able to showcase their services and safety policies that meet regulatory requirements. This allows Owner Clients to readily access a contractor’s pre-qualification information and dedicate their resources to engaging their contractors on a personal level.
Choosing safe and reliable contractors is a challenging process. The 10 contractor management attributes discussed in ISN’s white paper provides organizations with a benchmark to continually improve their contractor management processes.
Visit “What is Best-in-Class Contractor Management?” to request a copy of the white paper.