Page Tags: Risk management

Managing Risks: The Crucial Role of Architects

Managing Risks: The Crucial Role of Architects, Engineers, and Quantity Surveyors in Commercial Organizations Architects, Engineers and quantity surveyors are often required to provide services to commercial organisations at risk the majority of Architects, engineers and quantity surveyors engaged by commercial organisations have at one time or another undertaken to provide services on a risk …

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Empowering Subcontractors in the Construction Industry

Unlocking the Potential: Empowering Subcontractors in the Construction Industry Subheadings: Understanding the Power Dynamics in Construction Contracts Overcoming the Challenges Faced by Subcontractors The Importance of Building Strong Relationships Navigating the Next Job Syndrome Empowering Subcontractors for a Brighter Future Understanding the Power Dynamics in Construction Contracts In the intricate web of the construction industry, …

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Hudson Formula

Hudson Formula

Hudson Formula The so-called “Hudson Formula” is a topic of considerable debate within the legal and engineering communities. However, it is crucial to recognize that this formula lacks a solid foundation in both law and logic. Generally, it is widely accepted that damages and off-site overheads cannot be accurately determined through a rigid formula. While …

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Extensions of Time

Extensions of Time

Extensions of Time What is Extension of Time (EOT)? Extension of Time (EOT) is a delay which could not be reasonably foreseen at the time of contract signing. The granting of an Extension of Time relieves the contractor from liability of damages such as Liquidated Damages from the original date of contract completion for the period …

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Licensing and Building Claims

Dubai Municipality

Licensing and Building Claims Licensing Legislation In United Arab Emirates each State of Emirates has legislation providing for licensing of some categories of contractors. The legislation in each emirate is completely efferent. It is beyond the scope of this article to examine the differences. That would be an enormous task. However, there are some uniform …

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Project Close and System Improvement

Project Close and System Improvement What Is Project Closure? Project closure marks the final stage of a project. At this stage, the project manager confirms that the project deliverables have been accepted by the client, stakeholder, or customer. If the project or product is ongoing beyond this stage, appropriate maintenance measures must be established. In …

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Managing Risk and Value

Managing Risk and Value

Managing Risk and Value Risk and value management are strongly connected with each other because enhancing value for client also means ensuring that risk is minimized or at least planned and managed. An intention to produce best value for the client must be implemented by identifying and managing risk. The main objectives are: Consider the …

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Project Manager Skills and Functions

Project Manager Skills and Functions Skills required for Project Manager  A project manager is a person who has the overall responsibility for the successful initiation, planning, design, execution, monitoring, controlling and closure of a project. Construction, petrochemical, architecture, information technology and many different industries that produce products and services use this job title. Project management …

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FIDIC RAINBOW SUITE

FIDIC Rainbow suit

FIDIC RAINBOW SUITE The International Federation of Consulting Engineers   In today’s world, the construction industry is expanding rapidly. With the rise in the number of infrastructure projects, it is important to have a standardized contract agreement between parties. One such agreement that has gained popularity is the FIDIC Rainbow Suite. In this article, we …

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Project Team Roles and Responsibilities

Project Team Roles and Responsibilities Successful projects are usually the result of careful planning and the talent and collaboration of a project’s team members. Projects can’t move forward without each of its key team members, but it’s not always clear who those members are, or what roles they play. Here, we’ll describe five roles – …

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