Commercial Management for Contractors
In construction, commercial management refers to the application of skills to maximise business potential by ensuring the successful management of the project’s finances, procurement and the processes that can impact upon a project’s profits, timescales and quality.
Commercial management plays a critical role in a project’s success, and this new course has been built around helping you take on the role of commercial management to help secure success in
construction projects. Featuring references to publications JCT 2016 and NEC 4 as well as references to recent case law, delegates will be well prepared for the day to day actions of commercial management.
Beginning with contract formation and design management processes, and then looking at best practice in the management of financial, time and quality mechanisms, the content covers all the principle matters arising in construction projects for both the main and subcontract.
Using key industry insights from a highly experienced professional this course will provide delegates with tools and skills to enable them to recognise and understand critical commercial issues and how to deal with them.
This course is suitable for Construction Managers, Project Managers, Contract Managers, Quantity Surveyors, Estimators, Contract Administrators, Employers Agents, and Consultants in both pre and post contract roles.
You should have a few years to significant experience in the construction sector. Ideal for those seeking to advance into new areas of commercial awareness.
By the end of the course you will be able to:
- Recognise the necessity for contracts and manage the contract formation.
- Identify where pitfalls in contract formation arise and learn how to avoid them.
- Identify the meaning and the responsibility for design and the management of design development.
- Manage other direct contractual processes such as subcontracts, collateral warranties, bonds, parent company guarantees and the like.
- Demonstrate a clear understanding of the principles forming the foundations for claims relating to core topics of payment, delays and change.
- Successfully manage the commercial needs of a project.
Delegates can expect a fully interactive session working through the following agenda :
- Successful Contract Formation
- Binding Contracts: Types of Contract Seen in the Construction industry
- Procuring Contractors and Subcontractors
- Letter of Intent and Ancillary Promises
- Design Management
- What is Design and Design Development
- Standard of Care, the Expressed Requirement
- Understand the Benefits for Establishing Sub Contract and Third Party links
- Bonds PCG Third Party Rights and Collateral Warranties
- Subcontracts and Back to Back Main Contract
- Effective Administration of Contracts identifying the principle clauses
- Notices Certificates Records and Other Communications
- How to Successfully Manage the Contract Mechanisms
- Ambiguity Inconsistency and Defects
- Changes and Variations
- How to Pay Others and Be Paid – The Mechanics and Law Surrounding Payment
- Assessment Date Due Date Notices and the Final Date for Payment
- Right for Suspension
- Pay When Pay and Pay If Paid
- Understanding the Management and Administration of Claims for Time and Money
- Extensions of Time Damages and LDs
- Delays; Float and concurrent Delays
- Loss and Expense