The stereotype is that Contractors are just claim machines. Time bars play an important role in this. This post and the music of Muse allow us to rethink our ways of working on claims & time bars in a positive atmosphere outside of the day-to-day projects.
Contract Management, in general, and liquidated damages, in particular, are serious subjects. Still, in this post, we manage to think about delay LDs drawing from Natalie Imbruglia’s “Torn”: genuine pré-estimate, sole remedies, rates & caps etc.
Mick Jagger can’t get no satisfaction. And what about Employers/Engineers? Should they get satisfaction from the way the contract is executed by the Contractor? Read about this funny link between the Rolling Stones and Contract Management.
Project teams, in general, and Contract Managers, in particular, often speak in a detached way about the contrat: “unfortunately, the contract says the following” as if it came from somewhere and was cast in stone. This posts reflects on the freedom and opportunity to change contracts.
Now that we are all on holidays or just coming back is the good time to do a relaxed but critical self-assessment of our competences as Commercial or Contract Managers.
On the road to achieving your company’s outcomes, some hurdles have to be taken. Contract Risk Scoring tools are there to identify the commercial & contractual hurdles that may stop you from achieving your outcomes. They allow you to take consistent decisions: Go/No Go decisions, mitigation actions, acceptable liability levels, provisions, margin levels etc. Please read this post for more details.
Contract Risk Scoring is a hot topic. IACCM is actively promoting it. But, as this subject is quite new for many of us, we’ll all have a couple of questions. Here below we provide the answers to the most asked questions on the topic.
Contract Risk Scoring is an effective way to analyse contracts for their risks on commercial and contractual issues. We have applied this on a typical World Bank Contract for PLANT. The Contract Risk Scoring is 25 which means it is a low risk contract. This article provides the report and analysis.
This article explains the changes from the first (1999) to the second (2017) edition of the Rainbow Suite (Red, Yellow and Silver Books). FIDIC has put good efforts in making their standard contracts more balanced: dispute avoidance, dealing with delicate issues like variations and programme and further introducing project management best practices.
Unless less you are a contract expert with a solid experience and capacity to compare, in your head, against benchmark contracts, you will have a hard time to give a solid opinion on any contract and identify risk areas after a first reading,
This articles proposes a free tool to analyse contracts. For twenty questions, carefully chosen to cover the whole spectrum, the risk level of the answers is positioned on a scale from 0 to 5.
Based on the report that will be provided, you can then set-up a Risk Review board.