Contract Novation in Construction: Definition, Process, and Benefits.

Novation is a term used to describe replacing one party in a contract with another party. In the construction industry, novation is widely used to transfer obligations, risks, and rights from one party to another. Essentially, novation allows replacing an original party with a new one who takes on the same obligations and rights as… Continue reading Contract Novation in Construction: Definition, Process, and Benefits.

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Understanding the Relevant Events for Claiming Extensions of Time in JCT Contracts

In construction projects, time is of the essence. Delays can lead to significant costs and, in some cases, legal disputes. To mitigate this, contracts such as the Joint Contracts Tribunal (JCT) are put in place to provide a framework for project management. JCT contracts allow for extensions of time in certain circumstances. In this article,… Continue reading Understanding the Relevant Events for Claiming Extensions of Time in JCT Contracts

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Understanding Critical Path Analysis in Construction using the JCT Suite of Contracts

Construction projects are complex processes that require careful planning and execution. With numerous tasks, activities, and dependencies, managing these projects efficiently can be challenging. One tool that project managers can use to streamline the process is Critical Path Analysis (CPA). Introduction to Critical Path Analysis CPA is a highly effective methodology used in project management that… Continue reading Understanding Critical Path Analysis in Construction using the JCT Suite of Contracts

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Comparing As-Planned vs As-Built Construction Programmes

Regarding construction projects, developers use two main programmes to manage the project’s life cycle: As-Planned and As-Built construction programmes. While both approaches aim to achieve successful project completion, they differ significantly in their operations, each with unique advantages and disadvantages. In this article, we shall delve deeper into these two construction programmes, highlighting their features,… Continue reading Comparing As-Planned vs As-Built Construction Programmes

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Critical Path Analysis in Construction: An Introduction

Introduction Critical path analysis (CPA) is a vital project management technique in the construction industry. CPA helps project managers identify the critical path of a construction project, allocate resources effectively, and ensure the timely completion of projects. In the UK, the JCT and NEC Contracts provide guidelines for critical path analysis in construction projects. This guide will discuss… Continue reading Critical Path Analysis in Construction: An Introduction

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Innovative ways contractors can manage cash flow, reduce costs and win more work during a recession (pt 4)

PART 4 OF 4: HOW DIVERSIFYING + WINNING NEW BUSINESS HELPS CONTRACTORS SUCCEED DURING A RECESSION Before we get stuck in, let’s have a quick recap… WHAT DOES THE FUTURE HOLD FOR CONSTRUCTION? The truth is no one knows the future, but there is some guidance to help assist in commercial decision-making. 2022: Despite the… Continue reading Innovative ways contractors can manage cash flow, reduce costs and win more work during a recession (pt 4)

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Innovative ways contractors can manage cash flow, reduce costs and win more work during a recession (pt 3)

PART 3 OF 4: HOW GOOD DESIGN MANAGEMENT CAN HELP CONTRACTORS REDUCE CONSTRUCTION COSTS DURING A RECESSION Before we get stuck in, let’s have a quick recap… WHAT DOES THE FUTURE HOLD FOR CONSTRUCTION? The truth is no one knows the future, but there is some guidance to help assist in commercial decision-making. 2022: Despite… Continue reading Innovative ways contractors can manage cash flow, reduce costs and win more work during a recession (pt 3)

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Innovative ways contractors can manage cash flow, reduce costs and win more work during a recession (pt 2)

PART 2 OF 4: HOW FREE ISSUING CAN HELP CONTRACTORS REDUCE CASHFLOW PRESSURE AND COSTS DURING A RECESSION Before we get stuck in, let’s have a quick recap… WHAT DOES THE FUTURE HOLD FOR CONSTRUCTION? The truth is no one knows the future, but there is some guidance to help assist in commercial decision-making. 2022:… Continue reading Innovative ways contractors can manage cash flow, reduce costs and win more work during a recession (pt 2)

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Strategies to Manage cash flow for a construction company during a Recession

Updated: 18/06/2024 Executive Summary: Learn how to effectively manage cash flow for a construction company. Key strategies include creating detailed cash flow projection reports to anticipate financial needs, maintaining consistent cash flow for timely procurement of materials and labour, and addressing common cash flow issues such as delayed payments and high upfront costs. Additionally, improving… Continue reading Strategies to Manage cash flow for a construction company during a Recession

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