A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Procurement and Contract Strategy
Risks Allocation and Construction Cost
Significant investment is required for the development of construction projects. An appropriate procurement and contract strategy is therefore necessary to protect such investment and to achieve value for money for clients and investors who have a stake over the long‐term use of such facilities. The central dilemma for clients is often how to select consultants and contractors that can act in their best interests in the project. This chapter examines the link between procurement and contract strategy, the role of contracts in allocating risks, and the relationship between parties in various types of procurement as well as the implications for construction cost. It starts with an overview of the need for an effective procurement and contract strategy. The key risks in relation to the different forms of contract, and mechanisms for the allocation of risks from traditional architect‐led approaches to integrated fast‐track methods of delivering projects are discussed.
Procurement and Contract Strategy
Risks Allocation and Construction Cost
Significant investment is required for the development of construction projects. An appropriate procurement and contract strategy is therefore necessary to protect such investment and to achieve value for money for clients and investors who have a stake over the long‐term use of such facilities. The central dilemma for clients is often how to select consultants and contractors that can act in their best interests in the project. This chapter examines the link between procurement and contract strategy, the role of contracts in allocating risks, and the relationship between parties in various types of procurement as well as the implications for construction cost. It starts with an overview of the need for an effective procurement and contract strategy. The key risks in relation to the different forms of contract, and mechanisms for the allocation of risks from traditional architect‐led approaches to integrated fast‐track methods of delivering projects are discussed.
Procurement and Contract Strategy
Risks Allocation and Construction Cost
Robinson, Herbert (editor) / Symonds, Barry (editor) / Gilbertson, Barry (editor) / Ilozor, Benedict (editor) / Adriaanse, John (author) / Robinson, Herbert (author)
2015-03-02
16 pages
Article/Chapter (Book)
Electronic Resource
English
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