Build your professional network on facebook via our app Go to app
 
<< Prev  89 of 123 in Topic  Next >>
Topic : Construction Project Management
  Rate : 
 
Asked by : M NITIN SHENOY, PMP, IPMA-D, CEng MICE, Manager
Industry : Construction
Functional Area : Project Management
Activity: Question posted: 03 17 2009 05:59:56 +0000, 1 answers, 1801 views, last activity 09 20 2010 03:03:08 +0000
 
Share
 
 
 
 

There are various types of Construction Contracts available in Literature lke -  Lumpsum, Turnkey, Item Rate, Cost Reimburseable, Design Build, PPP, BOT, BOOT ...etc.

In Practice which type of Construction Contracts you have come accross and their Merits and Demerits..?

If Possible kindly emphasis on the conditions or situations at which a Particular type of Contract could be choosen, or say an evaluation mechanism to choose a Type of Contract for any given conditions/ requirements...!!!

 
  Answered by     Mohammad Bakhsh, Consultant(Civil), Rail Vikas Nigam Limited  | 09 20 2010 03:03:08 +0000
[ Delete ]
[ Edit ]
Not Rated

Mr Nitin,the selection of the contract type depends on the volume,nature of works,geography of the area,topography political stability of the area.Now a days EPC contract is gaining ground.This type of contract has advantage over others,that the stake holders have to be rest assured of take over of the complete and finished work complete in all respect. The contracting agency has to all the spade work right from reconnaissance  survey to planning,specification fixing agencies.The stake holders or their representative monitor the progress as per conceptual plans.The disadvantage of such type of contract is that stake holders has no control over the design,execution and improvement during the course of  construction.

Monitoring by owner and EPCC

The following points will be helpful to the owner for monitoring the project:

  • Define guarantees well
  • Define scope and quality very carefully
  • Define milestones meticulously
  • Have the LD/penalty clauses well-defined

The handling of an EPC contract is a complicated and complex phenomenon for the EPCC management. Some important points to know are:

  • Have payment terms very specific
  • Have similar terms and conditions regarding quality, guarantee etc., as demanded by owner's with various vendors
  • Do not keep terms open-ended
  • Coordinate vigilantly to reduce chances of errors at site
  • http://en.wikipedia.org/wiki/EPC_%28contract%29
 
Leading staffing and human resources consulting firm
  • Create a confidential Career Profile and Resume/C.V. online
  • Get advice for planning their career and for marketing of experience and skills
  • Maximize awareness of and access to the best career opportunities
Viewers also viewed
What is PRINCE2 Certification, how different is it from other Project management...
 
8 referals 3 answers, 3539 views
What is FSI  -  Floor Space Index and what are its significance interms of usage ..?
 
0 referals 23 answers, 131214 views
What sholud be the cost of constructing 1KM of road with a) RCC ROAD b) Bitumeous road including...
 
1 referals 12 answers, 14880 views
more...  
Unanswered Questions (374)
+91 8872522276 WORLD FAMOUS ASTROLOGER}...NAGESHEWAR BABA JI DIAMOND  GOLD MEDLIST .... +91...
 
0 referals 0 answers, 0 views
love issue husband wife problem and all problem solution with in 7 hours that is 1001% guarnteed...
 
0 referals 0 answers, 0 views
+91-8872522276 WORLD FAMOUS ASTROLOGER}...NAGESHEWAR BABA JI DIAMOND GOLD MEDLIST .......
 
0 referals 0 answers, 0 views
More From Author
I think this is a perpetual INDIAN Phenomenon..and situation would become worse if we don't embrace Mechanization to the Core and also train and engage/ encourage more skilled workforce and professional workpractices.. Gone are the days of enaging...
Hospital Construction Projects - What is so unique about it?
Subcontracting works forms the heart of executing project for any Main Contractor... While negotiating with the Subcontractor, there are various contractual terms to be considered and agreed upon.. Of these terms please highlight the most...
more...