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Contracts need risk management

Construction Law

More than ever, a watchful eye will have to be kept on programmes; just as over-optimistic schedules will risk big problems somewhere along the critical path. It is poor risk management, unsuited to the increasingly sophisticated commercial world that contractors have to inhabit.

Risk 52
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Sharing Your Budget Streamlines the Pre-Construction Phase

Wolgast Corporation

Sensibly, we understand that sharing a budget feels risky because it shows the owners “full hand” so to speak in poker terms and he or she could feel like it reduces the opportunity to negotiate. We can come to the owner with ideas without delays.

Budgeting 126
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The Percentages Favor Settlement of Claims and Appeals

Federal Construction Contracting Blog

Some of those settlements resulted from Alternative Dispute Resolution (ADR), which the Board enthusiastically promotes, or simply reflected settlements achieved by the parties through negotiation. It involves a realistic litigation risk assessment that provides the client with an explanation of the strengths and weaknesses of the case.

Claims 52
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3 cash flow forecasting tips for your next big construction project

Viewpoint Construction Technology

Better manage commercial risk and opportunity. Combined with rolling forecast capabilities, this will result in reduced cycle times and, best of all, an idea of the latest financial standing of the project at any given time. This means you need to build rolling enterprise operating cash flow forecasts, project by project.

Cash Flow 130
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BIM 101 for Andrew Hayward; Balfour Beatty plc: Head of Ethics, Risk and Assurance

DebunkTheBIM

Although I was still very bitter over being fired mainly because of my actions related to this job (mainly, but not entirely) at the time of writing, I was still genuinely hoping to start an exchange of ideas going within the learned and even more importantly, experienced part of the global BIM community.

BIM 48
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OpenJOC (TM) LEAN Job Order Contracting Framework

Job Order Contracting

Attacking variation reduces risk. Encourage new ideas… each project has its own dynamics outside of the process that drive day-to-day operations. Focus upon life-cycle costs in addition to first costs. Lower bid projects rarely provide the greatest long-term return on investment. viewed quite differently.

Contract 100
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Mastering construction project management with 6 key strategies

Fieldwire

Preconstruction and procurement: Negotiate and sign contracts with subcontractors. Your vendor can give a good idea of how long training will last, so determine this and set up an abbreviated training schedule at the point of purchase. Risk management You must keep your crews safe.