Why are monthly reports of Contract Performance important?

Q: Who is the Employers Agent?

A: Employer's agent is defined as the term which is used for the description of the agent who is…

Q: What is lump sum contract?

A: The lump sum contract is the traditional method of contracting in which the contractors are required…

Q: What is the difference between a typical contract and an engineering contract? Explain.

A:

Q: Why do the contract change need evaluation?

A: An agreement which follows the law is known as contract. The contract in construction is mutual or…

Q: Provide a technical justification for the following: i. Formula for price adjustment (escalation)…

A: Price adjustments on account of increases or decreases in the costs of products and services in…

Q: What are the various types of contracts? Discuss various stages in contract placement.

A: The task of doing any work or item of work under some prescribed set or terms and conditions by…

Q: What are the Methods and procedures for providing tiebacks?

A: Various types of restrained wall systems such as tiebacks, screw anchors, dead men anchors, soil…

Q: How can Some of the risks be transferred to others by contract?

A: The risk management technique in which the risk in a contract for project is transferred from one to…

Q: Define the term Contractual Allocation of Risk?

A: Risk management is the method of defining threats and deciding whether they can be distributed, and…

Q: What are construction progress payments?

A: Construction progress payment. The construction progress payment is the payments that are done based…

Q: What are the three important Negotiation principles?

A: Generally, meaning of negotiation is to get what you want from others. Suppose in a business firm,…

Q: There are several types of construction contracts. However, often a standard form of contract is…

A:

Q: What are the five principles of contract administration?

A: Six priciples of contract management:

Q: What are unit price contracts?

A:

Q: What are the  five basic rules of contract interpretation that are important in construction…

A: Contract interpretation starts by seeking out the decisions parties made.

Q: When are the unit price contracts used?

A: Introduction to Unit price contract Unit Price method is the kind of contract in which total cost of…

Q: What does the negotiation involve?

A: A Negotiation could be a strategic discussion that resolves a difficulty during a method that each…

Q: What are performance and payment bonds?

A: A performance bond seems to be a guarantee bond provided by a lending firm or bank to ensure a…

Q: Is the contract time always the same?

A: The contract is a legal agreement which is signed between two or more parties. The limitation period…

Q: What is a payless notice?

A: Pay Less Notice is defined as the notice which is written in order to notify the Payee from the…

Q: What is the difference between the Public contracts and the Private contracts?

A: Public contract is a contract to undertake a specific task which is financed by government funds to…

Q: . Is the contract lump-sum, unit-price, or cost-plus-fixed-fee?

A: The lump sum contract is the most common type of an owner-contractor agreement, and is fairly easy…

Q: What are the alternative methods for dispute resolution?

A: Alternative dispute resolution is a method for resolving conflicts outside of the courtroom or…

Q: How does the contract administration use the  work flow?

A: Contract administration could be defined as a multi-stage process that goes on through the entire…

Q: When do most disputes in construction contracts occur?

A: When a construction dispute occurs, the contracting parties may wonder which is the best course of…

Q: What are the benefits of open shop contracting?

A: Open shop contracting is a type of agreement that may have a union, but it has freedom to hire both…

Q: Who provides performance and payment bonds?

A: For several construction projects a payment bond is needed.

Q: What is Bidder Prequalification?

A: Bidder Prequalification:

Q: What are the guidelines for Negotiations?

A: Three key guidelines of Negotiation:

Q: What are the benefits of Employer Liability Insurance?

A: Employer Liability Insurance It is useful for a person/owner when one of his/her workers meets with…

Q: What is the role and obligation of the Employer's agent in the General Conditions of Contract…

A: Concept- General Conditions of Contract- A formal agreement between the buyer and the supplier, as…

Q: What is the fixed-price incentive contract?

A: Fixed price incentive contract is a contract in which a fixed percentage on the total target cost or…

Q: Is Partnering a totally informal process, or should it be addressed in the specifications?

A: When a mutually developed formal ideology of communication and responsibility planned to increase…

Q: What makes a contract?

A: Contract is a legally bound agreement between two parties.

Q: Describe the term “Order of Precedence of Contract Documents?

A: Construction contracts are a collection of various documents drawn up by various participants of…

Q: What is federal contract change?

A: - Federal contract is same as cooperative contracts in which government provide financial support…

Q: Is the written contract accurate?

A: A written contract is a printed agreement between two parties, one a borrower and one a lender. It…

Q: What is the purpose of a price allocation form?

A: The price allocation form is a start to finish list of work item on a project that represent the…

Q: What are the rights of all the parties in construction operations?

A: The construction of huge projects requires expertise from every field. It involves collaboration of…

Q: What are the disadvantages of the written contracts?

A: Written contract: A written contract could be a written agreement between 2 parties, one a borrower…

Q: What is Contractors All Risk Insurance?

A: Contractors all risk insurance is defined as an insurance policy in which all the risks during…

Q: What is Employers Liability Insurance?

A: Employers' liability insurance is also known as employment practices liability insurance which used…

Q: Describe the concept of a design-build contract?

A: The project delivery system is a process which is used to assign the responsibilities of the…

Q: What is the order of Precedence of contract documents?

A: Construction contracts are also very broad and contain a lot of different number of documents such…

Q: What is necessary to form a contract?

A: These are the key elements of a contract: Contract Basics Agreements are lawful arrangements between…

Q: What are the examples of unit price contracts?

A: The estimated quantities of items and unit prices on the hourly rates, rate per unit work volume…

Management levels

Management levels are the hierarchy of all the designations of people present in a construction company or construction project. For the proper execution of the project, all the components of a management hierarchy must work properly as per their responsibility. The main objective of creating management levels is that the whole work should be distributed in parts to the respective departments of specialization in that part.