Risk Allocation In Construction Contracts
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| Author | : National Research Council |
| Publisher | : National Academies Press |
| Total Pages | : 68 |
| Release | : 2007-10-09 |
| Genre | : Technology & Engineering |
| ISBN | : 030917998X |
The National Academy of Construction (NAC) has determined that disputes, and their accompanying inefficiencies and costs, constitute a significant problem for the industry. In 2002, the NAC assessed the industry's progress in attacking this problem and determined that although the tools, techniques, and processes for preventing and efficiently resolving disputes are already in place, they are not being widely used. In 2003, the NAC helped to persuade the Center for Construction Industry Studies (CCIS) at the University of Texas and the Alfred P. Sloan Foundation to finance and conduct empirical research to develop accurate information about the relative transaction costs of various forms of dispute resolution. In 2004 the NAC teamed with the Federal Facilities Council (FFC) of the National Research Council to sponsor the "Government/Industry Forum on Reducing Construction Costs: Uses of Best Dispute Resolution Practices by Project Owners." The forum was held on September 23, 2004, at the National Academy of Sciences in Washington, D.C. Speakers and panelists at the forum addressed several topics. Reducing Construction Costs addresses topics such as the root causes of disputes and the impact of disputes on project costs and the economics of the construction industry. A second topic addressed was dispute resolution tools and techniques for preventing, managing, and resolving construction- related disputes. This report documents examples of successful uses of dispute resolution tools and techniques on some high-profile projects, and also provides ways to encourage greater use of dispute resolution tools throughout the industry. This report addresses steps that owners of construction projects (who have the greatest ability to influence how their projects are conducted) should take in order to make their projects more successful.
| Author | : C. E. Porter |
| Publisher | : |
| Total Pages | : |
| Release | : 1981 |
| Genre | : Civil engineering contracts |
| ISBN | : |
| Author | : Deepankar Sharma |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
The paper aims to shade intensive lights over risks allocation and its related aspects embedded with a construction contract. For this purpose, an in-depth study of different types of risks which generally arisen in large sized construction projects is presented within the paper. For making the context clear, the paper elaborates some significant information about construction contract and different parties which are generally involved within a construction contract. In this section, the nature of different construction contracts is also discussed, which becomes a prime reason behind different types of risk in the contract. Further, the paper discusses different types of risks availed by different parties so that raw data for proper risk allocation can be collected. Further section of the paper is related with the risk allocation in a construction contract. The section explores disclaimer method for transferring risk from one party to other. Furthermore different roles played by different parties in the mitigation of risks in a contraction contract are also explained in the paper. The contractor under a construction contract is invariably required to carry out and complete the project by a specified date. This requirement is often accompanied by an obligation to produce a construction programme and to keep it up to date. There may be a contract administrator with powers to approve the programme. This paper identifies matters in relation to these obligations over which the parties can be in dispute and examines the legal principles governing their resolution. The matters include the contractor's choice of type of programming method, consequences of the contractor's failure to comply with its programming obligations, the contractor's right to complete earlier than required and delay from concurrent causes. Contracts for the construction of roads, buildings and other works present certain special features from the legal perspective. Having regard to the importance of these contracts in the economic life of the country, it is proper that their legal significance be examined in some detail.
| Author | : Donald Charrett |
| Publisher | : CRC Press |
| Total Pages | : 479 |
| Release | : 2018-07-04 |
| Genre | : Law |
| ISBN | : 1351006320 |
Written by an engineer and construction lawyer with many years of experience, The Application of Contracts in Engineering and Construction Projects provides unique and invaluable guidance on the role of contracts in construction and engineering projects. Compiling papers written and edited by the author, it draws together a lifetime of lessons learned in these fields and covers the topics a practicing professional might encounter in such a project, developed in bite-sized chunks. Key topics included are: the engineer and the contract; the project and the contract; avoidance and resolution of disputes; forensic engineers and expert witnesses; and international construction contracts. The inclusion of numerous case studies to illustrate the importance of getting the contract right before it is entered into, and the consequences that may ensue if this is not done, makes The Application of Contracts in Engineering and Construction Projects essential reading for construction professionals, lawyers and students of construction law.
| Author | : Nigel J. Smith |
| Publisher | : John Wiley & Sons |
| Total Pages | : 263 |
| Release | : 2014-02-03 |
| Genre | : Technology & Engineering |
| ISBN | : 1118347234 |
Investment in any new project invariably carries risk but the construction industry is subject to more risk and uncertainty than perhaps any other industry. This guide for construction managers, project managers and quantity surveyors as well as for students shows how the risk management process improves decision-making. Managing Risk in Construction Projects offers practical guidance on identifying, assessing and managing risk and provides a sound basis for effective decision-making in conditions of uncertainty. The book focuses on theoretical aspects of risk management but also clarifies procedures for undertaking and utilising decisions. This blend of theory and practice is the real message of the book and, with a strong authorship team of practitioners and leading academics, the book provides an authoritative guide for practitioners having to manage real projects. It discusses a number of general concepts, including projects, project phases, and risk attitude before introducing various risk management techniques. This third edition has been extended to recognize the reality of multi-project or programme management and the risks in this context; to highlight the particular problems of risk in international joint ventures; and to provide more coverage of PFI and PPP. With case studies and examples of good practice, the book offers the distilled knowledge of over 100 man-years of experience in working on all aspects of project risk, giving sound practical guidance on identifying, assessing and managing risk.
| Author | : Prof Dr. Mostafa H. Kotb |
| Publisher | : |
| Total Pages | : 12 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
Contracts are a vital tool in the projects for many justifications and it gains this level of importance as it represents the most powerful tool that enforces any decision. We will not exaggerate if we said that the contact is the gate of all project management processes. They define the various aspects, obligations, and relations between each party that are necessary to reach a common planed goal.Therefore, the contract shall be well-drafted to allocate risk properly and clearly which is the main purpose of the contract. Fair allocation of risk supports reaching a better level of project control which will result in optimum project cost and finish with contractual duration, quality, and the other constraints.There are several studies and surveys were conducted on risk allocation to reach the criteria of allocation and the influence of the allocation, however; risk allocation faces many barriers that came from the project parties themselves and their infrastructure. These barriers shall be defined well in order to overcome it and finally allocate the risk properly. The contractual parties shall do this identification and collaborate as long as the process of risk allocation is active.This paper aims to determine the major barrier of risk allocation and provide an assessment to rank these barriers based on a conducted questionnaire.
| Author | : Roger Flanagan |
| Publisher | : Wiley-Blackwell |
| Total Pages | : 228 |
| Release | : 1993-08-20 |
| Genre | : Technology & Engineering |
| ISBN | : 9780632028160 |
The construction industry is subject to more risk and uncertainty than perhaps any other industry. Yet, surprisingly, managerial techniques used to identify, analyse and respond to risk were not applied in the industry until the 80's. Existing texts deal with the theoretical concepts of risk and the techniques that identify and manage it. This book provides a set of tools that enable these management techniques to be put into practice in the construction industry.
| Author | : David B. Ashley |
| Publisher | : |
| Total Pages | : 437 |
| Release | : 1989 |
| Genre | : Construction contracts |
| ISBN | : |
| Author | : David B. Ashley |
| Publisher | : |
| Total Pages | : 437 |
| Release | : 1988 |
| Genre | : |
| ISBN | : |
| Author | : James R. Dunlop |
| Publisher | : |
| Total Pages | : 620 |
| Release | : 1987 |
| Genre | : Buildings |
| ISBN | : |
