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: A company faces a decision with respect to a product (code named M997) developed by one of its research laboratories. It has to decide whether to proceed to test mark

T ools and techniques used for quality planning Let us now see some of the tools and techniques used for quality planning. They are: C ost /benefit analysis: This is an


Public documentation/information centres: Established from public funds, these may not be self- supporting financially. In developing countries, documentation and information

Standards for library binding: The weigh of the stripped fabric shall not be less than 7.9 ounces per square yard. The total thread count including wrap and filling, shall not

C ultivating communities of practice In an organisational life, the CoP has been readily accepted by people. It will flourish irrespective of whether the organisation recognis

1. Carry out the preliminary investigation of the organisation and yourself in relation to it, as follows: a) Give an initial appraisal of the organisation’s aims and preparedness

Question 1: Explain how you would set up the Front Office Department of a new 100 room beach resort. You should consider the following points in your answer: • Manpower requ

what would you suggest to avoid delays in dispatch of products

Checking with the catalogue: The individual classifier  who is allotted a  set of documents for processing will first  check  each item in the set with the library catalogue.