What kind of records should a General Contractor maintain for each project?

Maintaining comprehensive records for each project is crucial for a General Contractor, and the correct choice emphasizes the importance of keeping detailed documentation throughout the construction process. Financial records such as budgets and invoices are essential for tracking expenses and ensuring the project stays within financial constraints. Contracts provide a clear legal framework for the project's obligations and expectations, protecting both the contractor and the client.

Change orders are significant as they document any modifications to the original contract scope, ensuring all parties are aware of and agree to the adjustments in work or cost. Communication logs capture ongoing correspondence and decisions made throughout the project, serving as a reference for resolving any disputes that may arise. By maintaining these types of records, a General Contractor can effectively manage projects, adhere to legal requirements, and provide transparency, which cultivates trust with clients and subcontractors alike.