Control and flexibility in contracts, Other Management

Control and Flexibility in Contracts

Contracts form the backbone of project management today. Project management techniques have developed in response to severe pressures such as unfavourable economic factors, inflation, uncertainties in the magnitude and duration of construction projects, and often unpredictable regulatory and environmental requirements. Executive control of a project can therefore be achieved only by controlling the progress of  contracts entered into for the project.

Major projects involving substantial construction are exceptional, one-time or at least infrequent. The popular mode is that you invest in capital works and execute the project through a single entity created for the implementation of the specific project.

The single entity is the project team, which in turn is led by a designated project manager dedicated to the project. This team should be established early in the development of the project concept and be given responsibility for  the  complete  project  life  cycle  from feasibility;  through  schematics, design, and procurement. In this way, managerial unity is established early in the project.

The single entity model can be achieved in three different ways, each way being a contracting mode for an entire project:

1. Award of a single contract (either Lump sum Fixed price or Engineering Procurement Construction (EPC), for the implementation of the project after the basic design of the project is finalised.

2. D-B (Design and Build) mode of contracting 

3. D-B-B (Design, Bid and Build) mode of contracting 

Posted Date: 9/28/2012 2:15:50 AM | Location : United States







Related Discussions:- Control and flexibility in contracts, Assignment Help, Ask Question on Control and flexibility in contracts, Get Answer, Expert's Help, Control and flexibility in contracts Discussions

Write discussion on Control and flexibility in contracts
Your posts are moderated
Related Questions
Question 1: (i) Why is it necessary for the rooms division staff to communicate effectively within the department, with other departments of the hotel and with the public? Sup

Stack Guides: Guides are to be put up at different places in the library in order to enable a user to find his/ her way into different parts of the library with minimum of ass

Question 1: What are the alternative ways in which a decision can be made that affects the parties involved? In what ways will negotiation be seen as a tactical contest?

Filing Equipment -LIBRARY EQUIPMENT-LIBRARY MANAGEMENT  Provision for filing has to be made for many kind of materials, from architectural and technical f very  large size  to

Question 1: What are the important steps a hotel could take in order to meet the environmental concerns of the country and the requirements of sustainability? Question 2:

Communication in Negotiations  In this section, we will analyse the importance of communication, both verbal and non-verbal. Negotiators understand the importance of effective

QUESTION 1 (a) Define (i) Conflict of Interest and (ii) integrity? (b) What would you recommend for an organization that go beyond obeying the law? (c) How far do you thi

QUESTION 1 (a) Distinguish between conflicts of interest and bid rigging in public procurement (b) Explain the importance of a Code of Conduct in preventing corrupt practice

Personnel: Technical processing work is, perhaps, the area in the whole library work where the highest degree of professional expertise is needed. Therefore, the technical dep

History of Filing Systems   The history of filing systems can be traced back to the history of libraries because basically man prefers order and early librarians, therefore, wo