Cash is your best mate… In all lines of business ‘Cash is King’, but in construction, it’s more critical than most. There are so many reasons why cash in your bank rather than in your clients is important – whether it’s to buy equipment, employ and pay subcontractors, or simply to improve your credit rating,… Continue reading Cash is your best friend – Project Lifecycle 8
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Risks and Opportunities – Project Lifecycle 7
In any industry, for a project to be a success, a defined project strategy is critical – Construction is no different. So, what’s the strategy on your project? How are you interacting with your client? Are there Value Engineering opportunities and key risks you need to focus on? Are there specific design risks in Subcontract… Continue reading Risks and Opportunities – Project Lifecycle 7
Stealth CDP
The design element of a contract represents one of the best opportunities for a contractor to increase margins on a project. It also represents one of the riskiest areas where you can lose margin. Ever been hit by a Stealth CDP (Contractor’s Design Portion)? If you have, there’s a good chance you’ve lost a decent… Continue reading Stealth CDP
Design Delay Claims – Project Lifecycle 6
Last week we discussed the various tools to use to make sure you can claim for time lost during the design period. I’m a firm believer that when you suffer delays in construction, the priority is to get an Extension of Time and following that, to recover the money associated. The question is – how… Continue reading Design Delay Claims – Project Lifecycle 6
Design Delays – Project Lifecycle 5
I’ve already mentioned that where Construction Contracts include design, my experience is that the success or failure of the programme, typically hinges on the success of the design period. If like me, you’ve worked on contracts where your company had major design responsibility, design delays will not be uncommon to you. So … how do… Continue reading Design Delays – Project Lifecycle 5
Understanding the contract – Project lifecycle 4
Understanding the contract is of absolute importance to the success of your project. Do you know how many days you have to give notice of a variation? What do you do when there is a delay event – are there particular rules on this? Projects are not simple. Knowing how to act in difficult situations… Continue reading Understanding the contract – Project lifecycle 4
Design Management Process – Project Lifecycle 3
Where Construction Contracts include design, my experience is that the success or failure of the project typically hinges on the success of the design period. At tender stage, understanding, and successfully negotiating a favourable Design Management Process will help you to plan and deliver the project. So why is the Design Management Process paid lip… Continue reading Design Management Process – Project Lifecycle 3
Programme Negotiations – Project Lifecycle 2
Contract negotiation almost always involves compromise to achieve a document that is acceptable to all parties. Projects may succeed or fail as a direct result of the terms and conditions in the contract and the quality of the programme is no different. Successfully negotiating a favourable programme can help you hold others to account and… Continue reading Programme Negotiations – Project Lifecycle 2
Variations – The Elephant in the Room
I’ve got breaking news for you, and you heard it here first: A lot of people in the construction industry don’t like Quantity Surveyors. In fact, you could probably split the industry into three groups. A third of the industry don’t like what we do; a third of the industry don’t know what we do;… Continue reading Variations – The Elephant in the Room
Order of Precedence – Project Lifecycle 1
What is Order of Precedence in Contracts? Construction Contracts are often very large and include lots of different Numbered Documents like the drawings, scope of works etc. To give these documents meaning and to rank their importance, many contracts include an ‘Order of Precedence’ Clause which helps you interpret which of these documents is most… Continue reading Order of Precedence – Project Lifecycle 1