Engineering and construction contracts can be drawn in a great variety of forms, depending on the contract strategy and the financial resources of the contractor. The most successful contracts have at least one element in common: thoughtful and thorough preparation before the contract is let.
Contractual arrangements in construction are becoming increasingly more involved, which leads to the potential for significant added costs. Project complexity, and the changing and increasingly costly legal and insurance environments, are major reasons for considering whether better contractual arrangements are possible. Contracts, of course, must be made early in the life of a project. To do this while simultaneously providing for the risks of uncertainties and gaining improved performance and innovation presents major challenges for owners and contractors alike.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.