What is the primary function of regulatory standards in contractor management?

The primary function of regulatory standards in contractor management is to dictate compliance requirements that contractors must adhere to. These standards are established by governing bodies and serve to ensure that contractors operate within legal, safety, and ethical guidelines. By setting these compliance requirements, regulatory standards help protect the interests of all parties involved—including clients, employees, and the general public. They cover various aspects such as safety protocols, quality assurance, environmental regulations, and financial practices, thereby establishing a baseline for acceptable conduct and performance in the industry.

While guidance for contractor selection, outlining project deadlines, and recommendations for training are relevant considerations in contractor management, they do not encapsulate the core essence of regulatory standards. Instead, these standards primarily focus on ensuring that contractors meet specific legal and operational requirements crucial for maintaining industry integrity and safety.