| Managing and interpreting construction contracts in today’s climate is harder than ever. But it gets worse. Due to downsizing of facility engineering capabilities, it is critical for owners to modify their core competencies to incorporate the skills required for their construction contracts to meet with success. The truth is, with today’s limited manpower resources, rising commodity prices, and pressures to bring projects on stream sooner, you require knowledge of the construction contracting process to stave off failure. To be successful you have to understand the whole process of developing a contract, including, the tender document, the bidding process, construction management, contract administration, contract interpretation and contract enforcement.
Using, case studies, exercises and discussion, this seminar will address developing, managing, and interpretation of construction contracts in industrial applications including project life cycle, risk analysis, developing tender documents, contract first principals, tendering contracts, types of contracts, RFQ’s, bidding, contract language, Earned Value Analysis for the control of contracts, bonding and insurance. Developing, managing, interpreting, and enforcing contracts is a lot of work. It requires an understanding and the ability to develop the tender documents leading up to the contract. It is a team effort if success is to be achieved. In theory interpretation of construction contracts sounds easy, but it is a lot more difficult to put into practice if the backup material is not up to par.
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