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Contract Management. What is a Contract? Agreement between two parties (both sides think they will benefit) Legally enforceable.

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Presentation on theme: "Contract Management. What is a Contract? Agreement between two parties (both sides think they will benefit) Legally enforceable."— Presentation transcript:

1 Contract Management

2 What is a Contract? Agreement between two parties (both sides think they will benefit) Legally enforceable

3 Contract defines important parameters of the agreement Scope of what is being exchanged Schedule Price Risk sharing

4 Why enter into a contract? To use the resources or expertise of others To complete a project or achieve a result To acquire rights or property

5 OwnerOwner ContractorContractor ContractorContractorContractorContractor ContractorContractor Pipeline

6

7 Contract Blunders Selecting the wrong contract partner Not defining contract parameters (or not matching them to the situation) Unenforceable provisions (illegal, unreasonable or erroneous) Not following the contract

8 OwnerOwner Pipeline EngineerEngineer Sub- Consultant ContractorContractor

9

10 Contract management recommendations Quality based selection Appropriate risk sharing Partnering agreements Standard contract documents

11 Standard Contract Forms AGC AIA EJCDC Agency standard form Consultants standard form

12 Template/Standard Is familiar to parties involved Has legal precedent Uses established terminology Lowers risk and costs

13 Modifying the Contract Adapt to project needs (supplemental or special conditions) Deal with the unexpected Mutual agreement

14 Construction Contract Documents Bidding documents Agreement Standard conditions Supplemental conditions Technical specifications Addenda Change orders

15 Management Tools Progress meetings Progress reports Payment applications Progress incentives / delay damages Retain a construction manager

16 Jared Oldroyd, P.E. Bowen Collins and Associates UtCivilEng (twitter)


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