Lecture 9 - Contract Strategies Flashcards

1
Q

Contract Strategy

A

Determines contractual link between employer, designer and contractor

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2
Q

Choosing Contract Strategy

A

Employer: Experience, risk, funding, time
Contractor: Project, availability, payment

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3
Q

Strategy - Traditional (Seperated)

A
  • Designer appointed first
  • Contractor has little (if any) design obligations
  • Relative cost certainty, fair risk distribution
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4
Q

Strategy - Design & Build (Integrated)

A
  • Project requirements are clearly detailed in contractor brief.
  • Contractor contacts designer, sub contractors and suppliers.
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5
Q

Management Contract Strategy

A

Contractor appointed early, working on the management and coordination of construction work (partnering with employer)

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6
Q

Management Contracting

A
  • Design by independent team with contractor input
  • Contractor places sub-contract and takes responsibility
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7
Q

Construction Management

A
  • Firm of QS/Project Managers
  • Managers/coordinates contractors but NOT liable to performance
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8
Q

Partnering

A

Collaborate management of a contract by employer and contractor to share risk and reward. (NOT BINDING)

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9
Q

Partnering Objectives

A
  • Reduce tender times
  • avoiding disputes
  • quicker start
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10
Q

Partnering Workshop

A

Workshop to discuss introductions, project intentions and key difficulties

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11
Q

Partnering Charter

A

Agreements based on a charter consisting of objectives, intentions and goals

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12
Q

Alliances

A

Contractually binding agreements between companies to work together

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13
Q

Joint Ventures

A

Formal Agreement creates a separate legal organization

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14
Q

Consortium

A

Described formal agreement between groups of contractors

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15
Q

Private Finance Initiative (PFI)

A

Creates and public/private partnership. Private sector finances design and is payed back over the years.

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