BLOGS
Traditional Claims Management in EPC Projects
Conflicts arise when multiple parties are involved in a construction project inevitable and when one party feels the other party is not following them. They can make a claim if they are working under contract.
Construction Delay Analysis Methodologies- Strengths & Weakness
Numerous critical path-based delay analysis approaches are used to show the effects of delay events and then to assign blame for these delays to the accountable party. The following are the main techniques:
Recommended Practice on Forensic Schedule Analysis is Simple or Complex?
Finding out what happened, how it affected the timeline, and what was the cause, is the desired goal of schedule delay analysis. Delay analysis should start by identifying the events and their times.
Project Accounting: The most underrated responsibility in Project management
The financial activities involved in operating a project, such as costs, billing, and income, are the main emphasis of project accounting. This approach is used by experts like project managers and accountants to integrate crucial financial duties on a project-by-project basis and report their success to management.
Thumb Rules to Write Success Stories in Delay Claims
Sometimes it’s impossible to avoid delays on construction projects. Contractors and subcontractors frequently incur higher expenses as a result of delays, and owners may be exposed to claims for liquidated damages for delays.
Why concurrent delays are only excusable but not compensable to contractors?
The delay occurrence are mainly from critical delays, which affects the critical path and contract completion date as a result of which it leads to prolongation claims, EoT claims to favor the contractor, if at all the contractor is not responsible for the delay.
Retrospective Vs Prospective Delay Analysis
Delay analysis is an essential aspect of the construction industry, as it helps identify the causes and effects of delays, thereby enabling parties to take appropriate action to minimize or mitigate their impact. Delay analysis is generally divided into two categories: retrospective delay analysis and prospective delay analysis.
Hurdles to overcome in Change Management
Change is inevitable in any construction or EPC (Engineering, Procurement, and Construction) project. However, managing changes effectively is critical to the success of any project. The change management process is a critical element of project management that involves identifying, documenting, approving, and implementing changes to the project.
Measured Mile Approach for Disruption Analysis
Construction projects can be complex, time-consuming, and often involve various disruptions. Disruptions can come in the form of change orders, delays, or unforeseen events that can impact the schedule, budget, and overall success of a project. In the Engineering, Procurement, and Construction (EPC) industry, it is important to understand and mitigate the impact of these disruptions.
Powerful Contemporaneous Records For Forensic Schedule Delay Analysis
Forensic Schedule Delay Analysis, Unlike Conventional Delay Analysis, not only relies on the minimal protocols of the Delay analysis records such as Schedules and its updates, in addition they include a comprehensive range of contemporaneous records to establish a credible case of facts such as
Why should Contractors engage Claims Consultancies in spite of inhouse Contracts Team?
EPC projects are complex endeavors that require the coordination of many different parties, including Employers, Contractors, Engineers, and PMCs. While in-house Contract team can play an important role in managing contracts and negotiations, the use of third-party construction claims consultancy can provide additional benefits.
A Positive perspective on “Negative Float”
Always a positive approach to a negative conclusion in project planning, monitoring, and controlling involves acknowledging the setback and its impact, but also focusing on the steps that can be taken to mitigate the negative effects and move forward.
Significance of Project Cost Control & Its Basis
Project cost control is important because it helps ensure that a project stays within its budget, which is crucial for the overall success of the project. Cost control involves monitoring and managing project expenses, identifying cost overruns, and taking corrective action when necessary.
Failure to Notice results in the denial of construction claims.
Failure to submit notices is one of the biggest failings of contractors when it comes to claims. Notices are a critical part of the claims process, as they serve to protect the rights of both the contractor and the owner. In fact, failure to submit proper notices can result in the contractor losing their right to recover damages or even termination of the contract.
“Time at large” – is it rarely successful?
When time is at large, there is no set deadline for completing the contracted work when time is limited. It does not imply, however, that the parties cannot set a realistic deadline for finishing the task. The contract must get closer to its completion date.
Why Two Indian Parties Prefer to have a Foreign Seated Arbitration
This topic is one of the most popular themes in recent years, it has always been popular since the law has been evolving as a result of different high court decisions, although, though.