Control and flexibility in contracts, Other Management

Assignment Help:

Control and Flexibility in Contracts

Contracts form the backbone of project management today. Project management techniques have developed in response to severe pressures such as unfavourable economic factors, inflation, uncertainties in the magnitude and duration of construction projects, and often unpredictable regulatory and environmental requirements. Executive control of a project can therefore be achieved only by controlling the progress of  contracts entered into for the project.

Major projects involving substantial construction are exceptional, one-time or at least infrequent. The popular mode is that you invest in capital works and execute the project through a single entity created for the implementation of the specific project.

The single entity is the project team, which in turn is led by a designated project manager dedicated to the project. This team should be established early in the development of the project concept and be given responsibility for  the  complete  project  life  cycle  from feasibility;  through  schematics, design, and procurement. In this way, managerial unity is established early in the project.

The single entity model can be achieved in three different ways, each way being a contracting mode for an entire project:

1. Award of a single contract (either Lump sum Fixed price or Engineering Procurement Construction (EPC), for the implementation of the project after the basic design of the project is finalised.

2. D-B (Design and Build) mode of contracting 

3. D-B-B (Design, Bid and Build) mode of contracting 


Related Discussions:- Control and flexibility in contracts

acquisition section-staff activity area of library building, Acquisition S...

Acquisition Section-Staff Activity Area of library building in libraray management The acquisition work consists of selection, approval (by competent authority, Library commit

Maintenance work and management, MAINTENANCE WORK AND MANAGEMENT: Of a...

MAINTENANCE WORK AND MANAGEMENT: Of all the functions in a library, the maintenance  work is the least discussed in professional literature. However, the importance of mainten

Devise a strategic control plan for a business organisation, QUESTION 1 ...

QUESTION 1 Attempt a SWOT analysis for the Cyber Island Concept in your country. You will have to analyse the business environment in the first instance and propose at least thr

Self-managed teams, In these teams the members themselves will not only per...

In these teams the members themselves will not only perform the work but also monitor, measure, and manage their performance.

Microforms - non-print materials, Microforms: Micropublishing is retro...

Microforms: Micropublishing is retrospective, being merely the reprinting of previously existing materials. Back files of newspapers,  periodicals and out-of-print materials a

Important qualities and skills required of negotiators, QUESTION 1 Nego...

QUESTION 1 Negotiators are likely to make systematic errors while processing information. Discuss the cognitive biases that are likely to hold back the performance of negotiato

Document delivery service of insdoc, DOCUMENT DELIVERY SERVICE OF INSDOC: ...

DOCUMENT DELIVERY SERVICE OF INSDOC: INSDOC has been offering DDS at national level since 1952. The service is provided utilizing the entire country's resources including thos

What do you understand by the term conflict, QUESTION 1 A team is a sma...

QUESTION 1 A team is a small number of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mu

Derivatives section of a bank treasury, Question 1 Discuss the various act...

Question 1 Discuss the various activities carried out by commercial banks these days that are common to clients of both commercial banks and development banks Question 2 What

Allocating funds - library management system, Allocating Funds: Financ...

Allocating Funds: Finance is the most important factor in document selection. Proper planning of finance is basic to good  acquisition  work. Every library works according to

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd