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Contract Strategies For Major Projects
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Book Synopsis Contract Strategies for Major Projects by : Edward W. Merrow
Download or read book Contract Strategies for Major Projects written by Edward W. Merrow and published by John Wiley & Sons. This book was released on 2022-12-13 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major Projects are Delayed by Months or Years, and Cost Millions More Than Budgeted, Because of Common Mistakes Made at the Contracting Stage Organizations that invest huge amounts of capital in major building/industrial projects almost never do the engineering and building themselves. They hire engineering and construction contractors to do it for them. Unfortunately, selecting contractors and negotiating the terms of a major project is one of the most difficult aspects of project management...and organizations waste billions of dollars and "bake in" months or years of delay by doing it wrong. Contracting is also the area of project management that is most prone to firmly held opinions unencumbered by any facts. We intend to remedy that situation with this book. Drawing on a properietary detailed database of over 1100 major projects, the world's leading industrial engineering project consultant, Ed Merrow explains: Key Principles of Contracting for Major Projects: Owners are from Mars; contractors are from Venus All the biggest risks in contracting belong to the owner Contracting “games” will normally be won by contractors, not owners Most risk transfer from owners to contractors is an illusion Contractors do good projects well and bad projects poorly Contractors may have shareholders, but they are not your shareholders! Mixing different contract types with different contractors on the same project is unwise Economize on the need for trust; trust only when being trustworthy has value Merrow also explains: Which contract incentives work and which don’t and WHY Which of over a dozen contracting strategies work best and which ones hardly ever work and WHY The strategic advice in this book is designed for owners and contractor project managers, team members and supply chain, executives, and other business leaders involved in major projects. It's also an indispensable resource for engineers, leaders of industrial firms, bankers, and academics studying the messy realities of the construction and engineering industries.
Book Synopsis Industrial Megaprojects by : Edward W. Merrow
Download or read book Industrial Megaprojects written by Edward W. Merrow and published by John Wiley & Sons. This book was released on 2011-05-03 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Avoid common pitfalls in large-scale projects using these smart strategies Over half of large-scale engineering and construction projects—off-shore oil platforms, chemical plants, metals processing, dams, and similar projects—have miserably poor results. These include billions of dollars in overruns, long delays in design and construction, and poor operability once finally completed. Industrial Megaprojects gives you a clear, nontechnical understanding of why these major projects get into trouble, and how your company can prevent hazardous and costly errors when undertaking such large technical and management challenges. Clearly explains the underlying causes of over-budget, delayed, and unsafe megaprojects Examines effects of poor project management, destructive team behaviors, weak accountability systems, short-term focus, and lack of investment in technical expertise Author is the CEO of the leading consulting firm for evaluating billion-dollar projects Companies worldwide are rethinking their large-scale projects. Industrial Megaprojects is your essential guide for this rethink, offering the tools and principles that are the true foundation of safe, cost-effective, successful megaprojects.
Book Synopsis Leading Complex Projects by : Edward W. Merrow
Download or read book Leading Complex Projects written by Edward W. Merrow and published by John Wiley & Sons. This book was released on 2018-05-01 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative analysis of outcomes vs PMs at the individual level Leading Complex Projects takes a unique approach to post-mortem analysis to provide project managers with invaluable insight. For the first time, individual PM characteristics are quantitatively linked to project outcomes through a major study investigating the role of project leadership in the success and failure of complex industrial projects; hard data on the backgrounds, education, and personality characteristics of over 100 directors of complex projects is analyzed against the backdrop of project performance to provide insight into controllable determinants of outcomes. By placing these analyses alongside their own data, PMs will gain greater insight into areas of weakness and strength, locate recurring obstacles, and identify project components in need of greater planning, oversight, or control. The role of leadership is to deliver results; in project management, this means taking responsibility for project outcomes. PMs are driven by continuous improvement, and this book provides a wealth of insight to help you achieve the next step forward. Understand why small, simple projects consistently outperform larger, more complex projects Delve into the project manager's role in generating successful outcomes Examine the data from over 100 PMs of complex industrial projects Link PM characteristics to project outcome to find areas for improvement Complex industrial projects from around the world provide a solid basis for quantitative analysis of outcomes—and the PMs who drive them. Although the majority of the data is taken from projects in the petroleum industry, the insights gleaned from analysis are widely applicable across industry lines for PMs who lead complex projects of any stripe. Leading Complex Projects provides clear, data-backed improvement guidance for anyone in a project management role.
Book Synopsis Understanding and Negotiating Construction Contracts by : Kit Werremeyer
Download or read book Understanding and Negotiating Construction Contracts written by Kit Werremeyer and published by John Wiley & Sons. This book was released on 2023-07-19 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding and Negotiating Construction Contracts The complexities of construction contracts are made easy with this thorough and readable guide Construction contracts can be complex for both owners and contractors. For contractors, negotiating fair and balanced commercial terms in contracts is just as important as properly managing projects; a properly negotiated contract can mitigate unnecessary risk and unnecessary risk transfer. This, in turn, reduces exposure to financial liability for the contractor and for avoidance of contract claims and disputes. Understanding and Negotiating Construction Contracts provides a comprehensive and readable introduction to the world of construction contracts. Providing, for example, coverage of the four most common types of contracts—lump sum/fixed-price, cost-plus, time-and-materials, and unit-pricing—it promises to reduce uncertainty and allow contractors to enter contractual negotiations with greater confidence to be able to achieve a fair and balanced contract. This updated new edition reflects the up-to-date best practices to understand how to better negotiate the commercial terms and conditions in construction contracts. Readers of the second edition of Understanding and Negotiating Construction Contracts will also find: Updated information on indemnity, insurance, and negotiation An all-new chapter with a contract analysis checklist Real-world examples drawn from small residential, retail, large commercial, and international projects Understanding and Negotiating Construction Contracts is essential for construction professionals and college students studying construction contracts and the liabilities arising out of them.
Download or read book Capital Projects written by Paul Barshop and published by John Wiley & Sons. This book was released on 2016-09-06 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A real-world framework for driving capital project success Capital Projects provides an empirically-based framework for capital project strategy and implementation, based on the histories of over 20,000 capital projects ranging from $50,000 to $40 billion. Derived from the detailed, carefully normalized database at preeminent project consultancy IPA, this solid framework is applicable to all types of capital investment projects large and small, in any sector, including technology, life sciences, petroleum, consumer products, and more. Although grounded in empirical research and rigorous data analysis, this book is not an academic discussion or a conceptual dissertation; it's a practical, actionable, on-the-ground guide to making your project succeed. Clear discussion tackles the challenges that cause capital projects to fail or underperform, and lays out exactly what it takes to successfully manage a project using real-world methods that apply at any level. Businesses report that 60 percent of their projects fail to meet all business objectives, and IPA's database shows that projects' final average net present value undershoots initial estimates by 28 percent. This book provides concrete, actionable solutions to help you avoid the pitfalls and lead the way toward a more positive outcome. Avoid the missteps that make capital projects fail Learn the specific practices that drive project success Understand what effective capital project management entails Discover real-world best practices that generate more value from capital When capital projects fail, it is almost always preventable. Inefficiency, underestimated timelines, and unforeseen costs are the primary weights that drag a project down—and they are all avoidable with good management. Capital Projects gives you the insight and practical tools you need to drive a successful project.
Book Synopsis Project Management for Construction by : Chris Hendrickson
Download or read book Project Management for Construction written by Chris Hendrickson and published by Chris Hendrickson. This book was released on 1989 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Introduction to Building Procurement by : Brian Greenhalgh
Download or read book Introduction to Building Procurement written by Brian Greenhalgh and published by Routledge. This book was released on 2011-01-11 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The procurement stage of the building process is critical to the success of any building project, and as such must be understood by everybody entering the industry. This book familiarises the reader with the principles and methods of the procurement of buildings, starting at the most basic level.
Book Synopsis Managing Risk in Construction Projects by : Nigel J. Smith
Download or read book Managing Risk in Construction Projects written by Nigel J. Smith and published by John Wiley & Sons. This book was released on 2014-02-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in any new project invariably carries risk but the construction industry is subject to more risk and uncertainty than perhaps any other industry. This guide for construction managers, project managers and quantity surveyors as well as for students shows how the risk management process improves decision-making. Managing Risk in Construction Projects offers practical guidance on identifying, assessing and managing risk and provides a sound basis for effective decision-making in conditions of uncertainty. The book focuses on theoretical aspects of risk management but also clarifies procedures for undertaking and utilising decisions. This blend of theory and practice is the real message of the book and, with a strong authorship team of practitioners and leading academics, the book provides an authoritative guide for practitioners having to manage real projects. It discusses a number of general concepts, including projects, project phases, and risk attitude before introducing various risk management techniques. This third edition has been extended to recognize the reality of multi-project or programme management and the risks in this context; to highlight the particular problems of risk in international joint ventures; and to provide more coverage of PFI and PPP. With case studies and examples of good practice, the book offers the distilled knowledge of over 100 man-years of experience in working on all aspects of project risk, giving sound practical guidance on identifying, assessing and managing risk.
Book Synopsis Early Contractor Involvement in Building Procurement by : David Mosey
Download or read book Early Contractor Involvement in Building Procurement written by David Mosey and published by John Wiley & Sons. This book was released on 2009-11-24 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can contractors and specialists add value to a project by theirearly involvement in design, pricing, risk management andprogramming? How can this be structured and what role docontracts have to play? What is the impact on procurement andproject management? Commentators from Banwell to Egan have recommended earliercontractor appointments, and this has also been linked tosuccessful project partnering. How are the two related? Early Contractor Involvement in Building Procurementconsiders the case for a two stage procurement approach based on asystem of agreed project processes during the preconstructionphase. It examines the ways in which a contract can describeand support this model throughout its procurement, partnering andproject management, and is illustrated with case studies taken fromprojects and programmes across the construction and engineeringindustry. The roles of the various parties involved, the obstacles theyencounter and the benefits they can achieve are examined indetail. There is practical guidance on how to improve speed,economy, sustainability, change control, dispute avoidance, andclient satisfaction. This book bridges the gap betweencontract law, partnering and project management and will beessential reading for middle and senior management at constructioncontractors, consultants and clients in both the public and privatesectors.
Book Synopsis Risk Navigation Strategies for Major Capital Projects by : Asbjørn Rolstadås
Download or read book Risk Navigation Strategies for Major Capital Projects written by Asbjørn Rolstadås and published by Springer Science & Business Media. This book was released on 2011-06-22 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investors and managers of major projects know how often they result in cost overruns and schedule delays. Risk Navigation Strategies for Major Capital Projects builds on conventional best practice to provide a risk-based view of current practices for planning and executing large international projects. As economies of scale continue to drive projects to ever-higher levels of scope and complexity, new thinking about strategy and risk is required. Since major projects are highly exposed to external risks, the traditional view of predictability as something that can be mandated and ensured by rigorous application of conventional best practice has become a myth. Fresh thinking is required to manage projects today, and this book provides a framework for taking project management best practice to the next level. Risk Navigation Strategies for Major Capital Projects is intended for executives investing in major projects, project leaders and managers, as well as those with a teaching or research interest in project and risk management.
Download or read book NEC3 Box Set written by NEC and published by Thomas Telford. This book was released on 2005 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: - NEC3 Engineering and Construction Contract (ECC) - NEC3 Engineering and Construction Contract Option A: Priced contract with activity schedule - NEC3 Engineering and Construction Contract Option B: Priced contract with bill of quantities - NEC3 Engineering and Construction Contract Option C: Target contract with activity schedule - NEC3 Engineering and Construction Contract Option D: Target contract with bill of quantities - NEC3 Engineering and Construction Contract Option E: Cost reimbursable contract - NEC3 Engineering and Construction Contract Option F: Management contract - NEC3 Engineering and Construction Contract Guidance Notes - NEC3 Engineering and Construction Contract Flow Charts - NEC3 Engineering and Construction Subcontract (ECS) - NEC3 Professional Services Contract (PSC) - NEC3 Professional Services Contract Guidance Notes and Flow Charts - NEC3 Engineering and Construction Short Subcontract (ECSS) - NEC3 Engineering and Construction Short Contract (ECSC) - NEC3 Engineering and Construction Short Contract Guidance Notes and Flow Charts - NEC3 Adjudicator's Contract (AC) - NEC3 Adjudicator's Contract Guidance Notes and Flow Charts - NEC3 Term Service Contract (TSC) - NEC3 Term Service Contract Guidance Notes - NEC3 Term Service Contract Flow Charts - NEC3 Framework Contract (FC) - NEC3 Framework Contract Guidance Notes and Flow Charts - NEC3 Procurement and Contract Strategies
Book Synopsis Large-Scale Construction Project Management by : Yan Tan
Download or read book Large-Scale Construction Project Management written by Yan Tan and published by CRC Press. This book was released on 2020-04-02 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: A majority of large-scale construction and major infrastructure projects are funded by public funds from taxpayers. However, these projects are often subject to severe delays and cost overruns. Large-Scale Construction Project Management: Understanding Legal and Contract Requirements introduces integrated approaches to project management and control mechanisms to effectively manage large-scale construction projects. It explains the contractual requirements and associated legal principles under the latest edition of the leading standard forms of contracts, including FIDIC 2017, NEC4, and JCT 2016. It explains integrated project governance regarding time, cost, risk, change, contract management, and more. Further, it discusses the legal issues of scheduling delays and disruptions regarding the Delay and Disruption Protocol (Society of Construction Law) as well as Forensic Schedule Analysis guidance (American Association of Cost Engineering). Features: Provides strategies to effectively resolve disputes during construction projects Examines Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) Introduces the most recent software and techniques used in managing large-scale construction projects This book serves as a useful resource for project control and management professionals, researchers in construction management and project management, and students in building construction management and project management.
Book Synopsis The Oxford Handbook of Megaproject Management by : Bent Flyvbjerg
Download or read book The Oxford Handbook of Megaproject Management written by Bent Flyvbjerg and published by Oxford University Press. This book was released on 2017 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides state-of-the-art scholarship in the emerging field of megaproject management. The 25 chapters cover all aspects of megaproject management, from front-end planning to project delivery, including how to deal with stakeholders, risk, finance, complexity, innovation, governance, ethics, project breakdowns, and scale itself.
Book Synopsis Project Management for Facility Constructions by : Alberto De Marco
Download or read book Project Management for Facility Constructions written by Alberto De Marco and published by Springer Science & Business Media. This book was released on 2011-03-23 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes concepts, methods and practical techniques for managing projects to develop constructed facilities in the fields of oil & gas, power, infrastructure, architecture and the commercial building industries. It is addressed to a broad range of professionals willing to improve their management skills and designed to help newcomers to the engineering and construction industry understand how to apply project management to field practice. Also, it makes project management disciplines accessible to experts in technical areas of engineering and construction. In education, this text is suitable for undergraduate and graduate classes in architecture, engineering and construction management, as well as for specialist and professional courses in project management.
Book Synopsis Project Execution of Mega-Projects for the Oil and Gas Industries by : Soosaiya Anthreas
Download or read book Project Execution of Mega-Projects for the Oil and Gas Industries written by Soosaiya Anthreas and published by CRC Press. This book was released on 2021-03-24 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers execution of mega industrial projects especially in oil and gas industries covering engineering, procurement, construction, commissioning and performance testing. It enumerates various tasks and deliverables under each discipline and sub-disciplines to define the detailed scope of work, supplies and services, as per level III of Prima Vera Schedule developed from the contract-based schedule. It gives an overall idea of how a project rolls out from commencement date to initial acceptance and executed practically with total contractor’s scope of work broken down into tasks/activities at level III platform, while highlighting that support for fool proof project execution.
Book Synopsis Integrating Project Delivery by : Martin Fischer
Download or read book Integrating Project Delivery written by Martin Fischer and published by John Wiley & Sons. This book was released on 2017-03-27 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revolutionary, collaborative approach to design and construction project delivery Integrating Project Delivery is the first book-length discussion of IPD, the emergent project delivery method that draws on each stakeholder's unique knowledge to address problems before they occur. Written by authors with over a decade of research and practical experience, this book provides a primer on IPD for architects, designers, and students interested in this revolutionary approach to design and construction. With a focus on IPD in everyday operation, coverage includes a detailed explanation and analysis of IPD guidelines, and case studies that show how real companies are applying these guidelines on real-world projects. End-of-chapter questions help readers quickly review what they've learned, and the online forum allows them to share their insights and ideas with others who either have or are in the process of implementing IPD themselves. Integrating Project Delivery brings together the owners, architect, engineers, and contractors early in the development stage to ensure that problems are caught early, and to address them in a collaborative way. This book describes the parameters of this new, more efficient approach, with expert insight on real-world implementation. Compare traditional procurement with IPD Understand IPD guidelines, and how they're implemented Examine case studies that illustrate everyday applications Communicate with other IPD adherents in the online forum The IPD approach revolutionizes not only the workflow, but the relationships between the stakeholders – the atmosphere turns collaborative, and the team works together toward a shared goal instead of viewing one another as obstructions to progress. Integrated Project Delivery provides a deep exploration of this approach, with practical guidance and expert insight.
Book Synopsis Integrated Project Delivery by : Renee Cheng
Download or read book Integrated Project Delivery written by Renee Cheng and published by . This book was released on 2019-04-25 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a resource prepared for practitioners of Integrated Project Delivery. It is a step by step guide to the implementation of Integrated Project Delivery for new and experienced leaders. It is full of real project examples and pictures.
