The OAKS Capital Improvements (OAKS CI) team successfully deployed the final six business processes contained in the original scope of work on June 29. OAKS CI now provides full functionality for all phases of a construction project beginning with budgeting and preparation of a program of requirements and continuing through design, construction and project closeout. New business processes include Liens, Escrow Accounts, Punch Lists, Warranties, Contractor Closeout and Professional Services Closeout. The Liens business process records, tracks and reports project related liens. This business process records the liens by project and contractor, identifies when and by whom liens are filed and released and records the original lien amount, amounts of releases and the lien balance. The Escrow Accounts business process records and reports any funds deposited in escrow on a project. This can include retainage, liens and statutory delay forfeiture (liquidated damages) and other miscellaneous escrows. The financial institution holding the escrow and account balances are maintained. The Punch List business process provides a structured process for the submission, evaluation and final approval of the contractor’s work. The process is initiated by the contractor and includes evaluation of the contractor's work, creation of a punch list, corrections, a final inspection and acceptance of the completed work requirements. The Warranties business process records specific warranty information from service providers and material suppliers for each construction project. This assists the owner in organizing the warranties associated with a facility. Contract completion is not fully realized until all work is correctly completed and accepted. A major element of contract completion is the complete and acceptable submittal of all closeout requirements. The Contractor Closeout business process documents the receipt and approval of the contractors’ closeout requirements. Similarly the Professional Services Closeout business process provides an accounting of the required closeout documentation for the professional services provider.
For more information about OAKS CI, go to http://ci.oaks.ohio.gov or contact either Steve Mayo at 614.728.4310 or Fred Holcomb at 614.466.0830.
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