A project is a set of interrelated activities, usually involving a group of people working together toward a common goal or objective over a period of time. If you’re managing a project and you want to ensure its success, you ...
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DESIGN & BUILD CONTRACTS
Design and build contract is contract where contractor is responsible for design as well as construction of the project. Client is only interested in the output of the project, and full responsibility of delivering such type of contracts lies with ...
Project Planning And Management
Consider the planning stage of a large scale project. Successful completion of the project requires completion of hundreds of different activities by several different groups or companies. Ideally, we want to complete the project as soon as possible. This could ...
COST PLUS CONTRACTS
COST PLUS CONTRACT Cost + (cost plus) is a Contract agreement where the Owner agrees to pay the cost of all labor and materials plus an amount for Contractor overhead and profit (usually as a percentage of the labor and ...
BIDDING PROCESS
Following completion of the construction plans and specifications, the regulatory approval process begins. Since the regulatory agencies are so numerous and varied in their areas of authority, It is very difficult to describe them all even naming them all would ...
EARNED VALUE ANALYSIS
In construction industry Earned value analysis (EVA) is the one of the most popular and standard method of measuring a works progress at any given time, also forecasting its final date of completion and completion cost. it is also used ...
SOME NOTABLE EXCERPTS IN CONTRACT MANAGEMENT
Some excerpts of the decisions given by the Indian courts on arbitration: 1. In case of errors apparent on the face of the award it can only be set aside if in the award there is any wrong proposition of ...
THE TIME VALUE OF MONEY
THE TIME VALUE OF MONEY The time value of money is a relationship between the value of money today and its value at some future date, considering the interest charged or paid for the use of money. When an asset ...