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
INDIVIDUAL ASSIGNMENT BDS2874 – MANAGEMENT DECISION SCIENCE INSTRUCTIONS TO STUDENT 1. This Assignment is an Individual Assignment and consists of 7 pages including c

what is the definition for stock exchange

Environmental Assessment and Management: 1. Using a case study area of your choice, explain and demonstrate different understandings of nature, environment and / or landscape

Problem 1 Radio, as a medium of communication, functions in two main ways: it serves the individuals; and it operates on behalf of the society (Leish, 2007). Using suitable exa

In order to give unique co-extensive representation to each subject in the UoS, the classificationist has to ascertain the various attributes - infinite, turbulently dynamic, conti

QUESTION 1 (a) In many parts of the world, health problems and diseases have been caused by discharging untreated or inadequately treated wastewater. Discuss comprehensively p

managing construction to build 15,000 sq meters office you budget is $10 per sq meter timeline is to construct 3,000 sq meters per day you finish 7,000 sq meters of parking lot yo

PLANNING AND ORGANISATION: The major items of work are classification and cataloguing. They are of a highly  technical nature and accuracy is the very essence of all technical

Question 1: a. What are the traditional measures of development? b. What are the basic characteristics of the least developing nations? c. According to Denis Goulet, what

Simple and Stratified Random Sampling: Simple Random Sampling  is  a type  of probability sampling that ensure that each  element of the population has  an  equal and indepe