Business deals and especially construction projects are very public things that are exposed to a lot of commentary and observation. The perception and impression that the investing and general public has concerning a construction project – or any public project of almost any scale – can have a direct impact on its eventual success, its ability to find funding to bring the final stages into completion, and even the stock performance of involved corporations. With so much at stake in terms of real money and potential value, resolving disputes must be done quickly – but more importantly, they must be resolved in confidence.
Allowing a temporary dispute to negatively affect the perception and thus the value of a project is never good business. That’s where private mediation shows its value: By allowing parties to resolve disputes to everyone’s satisfaction while maintaining privacy, the project is kept on schedule and on-point without airing “dirty laundry” that could have a deleterious impact on the investment and the eventual success of the overall endeavor.
Unlike litigation and even arbitration, private mediation is a completely voluntary process. Both sides can come to terms on disclosure and privacy issues, protecting not only their own interests but the interests of investors, employees, and contractors in their employ. With everyone’s privacy and data security assured, there can be a much freer and friendlier negotiation. In the best possible situation, conflicts can be resolved before the general public is even aware of their existence, keeping the reputation of the project and all involved protected.
Words have impact, and gossip about any public endeavor can threaten its success. Private mediation is often the best course for all involved in order to encourage candor and protect sensitive data, spurring a fast, effective resolution to even the most complex disputes between partners and vendors.